Hon. Ellen Lord, undersecretary of defense for acquisition and sustainment and a 2020 Wash100 Award winner, said she expects the Department of Defense to launch in December 2020 a marketplace project meant to protect the defense industrial base and U.S. technologies from adversarial capital, DoD News reported Wednesday.
"What we want to do is instead of driving companies, or driving people trying to sell real estate to these adversarial and nefarious kinds of actors out there, we want to be able to partner people with clean money with companies where we understand the beneficial ownership and grow that capability for the betterment of our national security and economic security," Lord said of the Trusted Capital Marketplace during an online discussion as part of the ASCEND Summit.
The Trusted Capital Marketplace project is the Pentagon’s response to a congressional mandate in the 2018 National Defense Authorization Act (NDAA). The marketplace will work by connecting U.S. businesses with critical defense technologies to cleared investors that do not have links to adversarial countries.
"We'd like to think the capital markets are very, very efficient. But we work with the Council on Foreign Investment in the U.S. to block or undo a lot of transactions where our adversaries are coming in and buying companies that are critical for our national technology initiatives,” Lord said at the event.
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