Navy’s Tech Chief Pitches Co-Investment Model to Venture Capitalists

The U.S. Navy’s chief technology officer, Justin Fanelli, outlined a new approach to working with venture capital firms and startups in an interview published by TechCrunch on September 19, 2026. According to the report, Fanelli discussed the interview even as he was preparing for a secret flight, underscoring the pace of his schedule.

Fanelli told TechCrunch that the Navy is moving toward co-investing alongside venture capitalists rather than funding early-stage research on its own. The approach, as described in the interview, would have the Navy participate in funding rounds together with private investors rather than acting as the sole backer of nascent technologies.

Among recent transactions cited in the interview was a $562 million deal for autonomous refueling technology, which TechCrunch reported as an example of the kind of contract the Navy has recently pursued.

The interview also touched on what TechCrunch described as the Navy’s updated wish list for emerging technology, spanning areas from artificial intelligence to quantum computing. Fanelli reportedly indicated these are fields where he wants founders and startups to focus their efforts going forward.

TechCrunch's report did not provide additional details on the timeline for the co-investment model or further specifics of the technology wish list beyond the categories mentioned.