United Airlines is doubling down on startup investing with a new venture capital fund.
The Chicago-based airline said Thursday that it has launched United Airlines Ventures, a corporate VC fund that will back companies with the "potential to influence the future of travel." Specifically, United plans to invest in companies focused on sustainability, given the airline's goal of net zero emissions by 2050. It will also invest in innovative aerospace companies and other types of technology relevant to its business, United said.
The fund will be led by Michael Leskinen, United's current VP of corporate development and investor relations.
The fund currently lists three companies in its portfolio: electric aircraft maker Archer Aviation, airport fast-pass CLEAR, and low-carbon fuel producer Fulcrum BioEnergy.
Last week United announced plans to buy 15 supersonic jets from Denver aviation company Boom Supersonic. Those plans, which are expected to carry passengers by 2029, will fly on 100% sustainable aviation fuel, United said.
