United Airlines has started a corporate venture fund that will focus on investing in emerging companies in the fields of aviation sustainability and “revolutionary” aerospace technology, the carrier announced.
With United Airlines Ventures, the carrier hopes to accelerate growth of small and midsize companies, similar to its partnership with short-haul electric aircraft developer Archer, announced earlier this year. United VP of corporate development and investor relations Michael Leskinen will serve as the fund’s president.
“Younger companies today have learned from aviation’s rich history and are combining it with more advanced technology and creative thinking to develop new ideas that give us the ability to revolutionize how airlines operate and in turn, the experience customers have when they fly,” United CEO Scott Kirby said in a statement. “With United Airlines Ventures, we’re signaling our confidence in these companies and propelling them forward with our expertise and financial support.”