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Press Release: Pallas Advisors Announces Pallas Ventures

Updated: Jan 28, 2021

Pallas Advisors is pleased to announce the launch of Pallas Ventures, a private investment fund that provides capital to technology companies whose products will benefit the national security sector. Pallas Advisors, a fast-growing Washington-based consulting firm with decades of experience in the U.S. government and in the private sector, is establishing this venture arm to enhance our advisory services and help resource our clients. 

"In just the last two years we have come across several ground-breaking start-ups that are looking to maximize rapid growth and scale in the public sector," said Pallas Founding Partner Tony DeMartino. "In addition to being a trusted advisor, we wanted to establish a firm that can bring capital to bear to accelerate their success. We think this is particularly relevant as the national security sector looks to new solutions in this COVID era."

Pallas Ventures is excited to announce that the firm will be led by Richard Spencer, the former Secretary of the Navy, Acting Secretary of Defense, and corporate executive. Spencer was known at both the Navy and as the Vice Chairman of Intercontinental Exchange for his decisive leadership, direct style and sound management. Spencer will become the Managing Director of Pallas Ventures. "Richard Spencer is a rare talent who rose to the top levels of Wall Street and the Pentagon," said Pallas Founding Partner Sally Donnelly. "He combines executive experience running and modernizing one of the world's most complex public sector enterprises--the U.S. Navy--with a distinguished and successful career in selecting and growing private sector companies."

Others involved in the firm will be Gary Cohn, the Chairman of the Board of Pallas Advisors and the former National Economic Council Chair, and Pallas Advisors' founders Sally Donnelly and Tony DeMartino. Rich Gross will be General Counsel for Pallas Ventures. For further information visit our website here or email us at

Disclaimer: This communication does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Pallas Advisors or Pallas Ventures or any other third party, regardless of whether such security, product, or service is referenced in this communication. 


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