Venture Capital and the Military — Bridging the Divide — Major Chris Mitchum

Founded and run by veterans, Moonshots Capital believes in the power of synergy between the tech sector and the national interest of the United States.

Military service fosters extraordinary leadership, and we benefit from it as a business when we invest in veteran founders, who make up about one-third of our assets under management. Meanwhile, some of our portfolio companies — ID.me, Gretel.ai, Red 6, Transmute, Yonder, Outpost — are developing dual-use solutions that serve both the government and the commercial sectors, and they are improving crucial public services and defense capabilities ranging from digital identity verification to fighter pilot training.

We are proud to support communication and cooperation between military and industry by participating in the Army Training with Industry Program, which places active-duty service personnel into businesses as Military Fellows to exchange skills and management know-how. This year, Moonshots Capital welcomed Major Chris Mitchum, a decorated veteran of the Iraq and Afghanistan wars with over 50 combined months of overseas deployment in support of contingency and combat operations. As an artillery officer he conducted two operational deployments in Iraq while performing duties as a Fire Support Officer in Infantry and Armor (Tank) Battalions. Chris has served in the Army Acquisitions Corps for more than a decade, where he deployed to support Operation United Assistance, the Ebola response mission in Liberia, and Operation Inherent Resolve — the key Coalition effort to retake Mosul from ISIS. Later, he served as the executive officer to the Director of the Defense Security Cooperation Management Office — Afghanistan.

Chris’s deep knowledge of the Department of Defense’s current needs and processes has been a remarkable asset to Moonshots Capital as we select companies to invest in from our new Fund III and provide value to our existing dual-use founders. To mark Veterans Day, we wanted to highlight Chris as a model example of the vital connection between business and military, and we asked him to share his insights from the Training with Industry Program.

What sparked your interest in venture capital? How did you choose the Military Fellows Program?

I have been interested in entrepreneurship and investment since I was teenager, but I decided to take a different route after 9/11. I enlisted in the Florida National Guard as an infantryman in early 2002 while still in college, and I have been in active-duty service since I graduated from college in 2006. By the time I applied for the Army Training with Industry Program through my Army career manager, I had spent a combined 50 months deployed overseas in support of contingency and combat operations. In my last mission, I assisted in the humanitarian operation to evacuate Afghan partners to the United States and the responsible closeout of the final stages of U.S. operations in Afghanistan. At that point, I decided that it was a good time for me to expand my professional skills and broaden my experience by partnering with Moonshots.

I thought that being a Training with Industry Fellow in a venture capital firm founded by two former Army Officers would be the perfect environment for me to experience a different walk of life. I was also looking forward to mentorship from Managing Partners, Kelly and Craig, who understood my background, skills, and areas requiring growth to successfully adapt to professional life outside the military.

How does your military leadership style transfer into the startup world?

My leadership style espouses decentralized, values based, servant leadership where individuals are empowered to take initiative, openly communicate, and solve problems at the lowest level possible. So far, I found that the team-members at startups partnering with Moonshots are highly skilled, motivated, and disciplined professionals seeking to provide a product or service that has a meaningful and positive impact on society. I think great leaders are ultimately problem solvers seeking to genuinely help others and that’s exactly what I’ve observed. It is clear to me that Moonshots ensures the startups they partner with have exceptional leadership.

How do you use your military experience in your work at Moonshots?

I get to leverage my military acquisitions and program management background to evaluate potential dual-use opportunities and make recommendations to the Moonshots team on whether the dual-use technology fulfills a critical requirement or capability gap within the Department of Defense. It is very fulfilling to contribute to the Moonshots team and learn from everyone as we review different investment opportunities across multiple market segments.

What’s the most valuable lesson you’ve personally learned so far in the Military Fellows Program?

The most valuable lesson I’ve learned, and have also been pleasantly surprised by, is how active of a role venture capital firms like Moonshots undertake in supporting the start-ups they invest in. Since starting the fellowship I’ve had the opportunity to see Kelly and Craig advise founders, attend board meetings, and assist start-ups in talent acquisitions and marketing. The level of active investment of their personal time is truly impressive.

What’s something valuable that the military establishment learn from what you’ve seen in the startup world?

I believe the military could adopt several aspects of how Firms like Moonshots Capital operate when teaming with the companies they invest in. If the department of defense played a more collaborative and active role in partnering with start-ups to fulfill technology gaps associated with operational requirements, I suspect capabilities could be delivered faster.

What’s your favorite Moonshots Capital portfolio company and why?

My favorite company is Outpost. Outpost uses a NASA-designed heat shield and paraglider technology to recover and reuse their satellites in a similar fashion to what SpaceX does with rockets. This has been the most impressive dual-use opportunity, with multi-domain, cross military service operational capability that I’ve come across so far.

What advice would you give other veterans looking to explore opportunities outside of the military?

I would encourage other veterans to pursue their professional interests and seek out veteran mentors already established in the field for career advice and assistance. During my time as a Fellow in Moonshots Capital I have seen numerous examples of Craig, Kelly, and their network of professionals assisting veterans and entrepreneurs achieve their professional goals and aspirations.