EPISODE SUMMARY
This week’s episode features Tess Hatch, Partner at Bessemer Venture Partners. Tess joins us to chat the firm’s new strategy around space and defense technology. She also recounts her transition from an aspiring astronaut to a deep tech investor.
EPISODE NOTES
San Francisco-based venture capital firm, Bessemer Venture Partners, is diving into defense technology, with Payload securing the first interview to discuss the firm’s new strategy with Partner Tess Hatch. Despite the firm’s historical successes with space companies such as Terra Bella (formerly Skybox), Spire, and Rocket Lab, they are cautiously awaiting a new technological catalyst before making further industry investments.
Meanwhile, Tess has turned her attention to the defense sector highlighted in the firm’s recent Bessemer’s defense tech roadmap. She highlights AI/ML solutions and autonomous systems as critical investment areas, aiming to influence the future of national security significantly.
Tess joins us to recount her transition from an aspiring astronaut to a deep tech investor. In addition, Mo and Tess discuss:
- Bessemer’s early space thesis
- A breakdown of defense tech
- The concept of “dual use”
- Tech shaping the future of national security
- Challenges to defense investing
And much, much more…
• Chapters •
00:00 – Intro
02:15 – Tess’s career arc
04:06 – Tess’s transition from engineer to investor
06:27 – High capex in deep tech investing
09:04 – BVP’s investment strategy
15:59 – Space industry today and future predictions
18:37 – New investors in the space industry
21:07 – A third catalyst?
23:41 – Bessemer’s defense tech roadmap
26:28 – How does Bessemer differentiate itself
28:11 – How do you define defense tech?
30:43 – Concept of dual use
32:21 – Reality of dual use
35:12 – Challenges of defense tech investing
38:41 – Future opportunity in national security
40:53 – Liquidity in defense tech
42:48 – Who should partner with Bessemer?
45:08 – Favorite war movie/book
• Show notes •
BVP’s Defense Tech Roadmap — https://www.bvp.com/atlas/roadmap-defense-tech
BVP’s socials — https://twitter.com/BessemerVP
Mo’s socials — https://twitter.com/itsmoislam
Payload’s socials — https://twitter.com/payloadspace / https://www.linkedin.com/company/payloadspace
Pathfinder archive — Watch: https://www.youtube.com/@payloadspace Pathfinder archive — Listen: https://pod.payloadspace.com/episodes