Exit Ventures, a Provo-based early-stage venture capital firm focused on energy, AI infrastructure and sustainable materials, has been acquired by KittyHawk Ventures of Los Angeles. Exit Ventures founder Paul Burgon will join Kitty Hawk as a partner.
Founded in 2015, KittyHawk focuses on AI, energy, aerospace, blockchain, health care and robotics, targeting frontier markets projected to exceed $3 trillion by 2025, the firm said in a release.
“The acquisition of Exit Ventures brings a highly complementary portfolio of energy, climate and AI infrastructure companies and relationships that will immediately strengthen KittyHawk’s platform,” said Will Weisman, founder and managing partner of KittyHawk. “By combining our firms, we’re expanding our reach into some of the most critical frontier markets. Paul’s proven ability to create strategic exits and his unmatched network of corporate and strategic investors will be invaluable in accelerating outcomes for both our new and existing founders and investors. This combination positions KittyHawk at the forefront of next-generation energy and climate innovation.”
Burgon has led nearly 100 mergers, acquisitions and corporate venture capital investments. He co-created the Danaher acquisition and corporate venture system, recognized as one of the most successful in the U.S. His career spans senior leadership roles at Danaher, Steel Partners and SWK Holdings, as well as serving as CEO of a climate tech
startup.
“I am honored to join KittyHawk and look forward to collaborating with this amazing team,” said Burgon. “I was drawn to KittyHawk’s commitment to highly disruptive technologies that address critical global issues and massive markets. I’m especially excited to bring the Exit Ventures portfolio into KittyHawk, where these companies will benefit from the firm’s global platform and resources. Together, we can accelerate commercialization of critical technologies, create meaningful liquidity for founders and investors, and drive real impact.”
In addition to its headquarters in Los Angeles, KittyHawk has offices in San Francisco, Salt Lake City, Austin, New York, London, the UAE, Riyadh and Australia.