Coalition

Three managing partners — Tom Hennessey, Steven Hong, and Troy Brown — all carry the CEO title and manage the firm collectively. The firm's website describes them as "Portfolio CEOs who source, diligence, and integrate across Coalition companies." There is no publicly disclosed investment committee or outside board.

Coalition embeds itself in the MIT and Kendall Square research ecosystem, which it explicitly names on its site, and uses its portfolio CEOs as active participants in sourcing and diligence for new investments. The firm's own partners have built and exited frontier technology companies, which it claims gives them a network advantage within defense, computing, and manufacturing research communities.

Coalition operates as a venture firm, not a family office. It writes first institutional checks, has a portfolio of external startups, and its website solicits founders to "Find and test the best hard problem to solve" and "Raise capital and scale." There is no evidence of a single-family wealth source or permanent capital base beyond the firm's own fund structure.

Coalition describes itself as providing "first institutional checks when you're just getting started," which indicates direct equity investments rather than fund-of-fund commitments. Its portfolio companies — Mach Industries, Phoenix Semiconductor, and Flux Photonics — are all direct startup positions, with co-investors including Khosla Ventures, Sequoia, and Lockheed Martin.

Coalition targets the earliest institutional stage, calling itself the source of "first institutional checks when you're just getting started." Later rounds are led by external investors such as Khosla Ventures and Sequoia, as seen in the Mach Industries Series B and the Flux Photonics syndicate.

Coalition explicitly offers what it terms 'non-dilutive defense funding' to portfolio companies, stating it "strategically leverage[s] defense R&D to de-risk your technology — just like the internet, GPS, and semiconductors." This creates a dual-track capitalization where companies draw on government research budgets alongside venture equity, a structure that differentiates it from venture firms without a defense-origination capability.

Coalition invests in four named verticals: next-generation computing (optical, analog, novel silicon, hybrid architectures), resilient communications (secure, adaptive, high-capacity links), physical AI and autonomy (machines that sense, decide, and act in the real world), and advanced manufacturing (new processes, infrastructure, and domestic supply chains). It does not tag software-only or consumer internet companies.