Peter Tague

Background

Peter Tague is the Managing Partner of US Innovative Technology Fund (USIT), a venture capital and growth equity firm founded by Thomas Tull that backs dual-use technology companies serving both commercial and national security markets ¹².

Before joining USIT, Tague served as Executive Vice President for International and IQT Labs at In-Q-Tel (IQT), the not-for-profit strategic investment organization supporting U.S. intelligence community missions ³⁴. He joined IQT in 2018 to establish its international business unit, opening offices in London and Sydney to support partnerships with U.S., UK, and Australian intelligence agencies ³⁴⁵. Under his leadership, IQT International completed more than 35 deals in seven countries ². He also oversaw IQT Labs, a group conducting collaborative applied research on hard national security problems ².

Prior to IQT, Tague spent three decades in investment banking. He served as Vice Chairman and Co-head of Global Mergers & Acquisitions at Citigroup, where he specialized in international clients and cross-border transactions ⁶⁷. At Citi, Tague managed a franchise spanning advisory, defense, and capital-raising transactions across a wide range of industries ². He left Citigroup in February 2018 ⁸.

Tague graduated from Hamilton College in 1988 with a degree in anthropology ⁶⁹. Before Hamilton, he spent time in London working as a bartender and file clerk at a British bank, where a partner advised him to return and finish his education — advice he has called “probably the best single piece of advice I’ve ever gotten” ⁷. He began his banking career at Chase Manhattan Bank in a leveraged finance group and later moved to Salomon Brothers ⁹. While at Chase, he began MBA courses at Wharton but did not complete the degree ⁹.

Stated Thesis

Tague has publicly described USIT’s investment focus through statements on specific portfolio company investments. On defense AI, he stated: “AI is revolutionizing the defense space, from intelligence gathering and threat analysis to decision support systems” ¹. On supply chain technology, he stated: “In this new era of globalization, it is crucial for all public and private organizations to shore up their supply chains and for the whole ecosystem to maintain a streamlined, unified information flow” ¹⁰.

His career trajectory — from Wall Street M&A to intelligence community investing at In-Q-Tel to dual-use technology at USIT — reflects a stated focus on the intersection of national security and commercial technology ²³.

At Citigroup, Tague noted that M&A transactions increasingly required geopolitical expertise, stating he spent time in Washington, D.C. with government officials addressing national security concerns — something he “would never have done 10 years ago” ⁷. This government-interface experience appears to directly inform his investment thesis at USIT.

Inferred Thesis

Based on 6 verified investments where Tague is specifically named or quoted as involved (out of USIT’s approximately 26 total investments; Tague’s individual involvement in other USIT deals is not independently confirmed):

Sector breakdown: Of 6 verified Tague-associated investments: 2 are defense-tech/AI (Primer, Shield AI — 33%); 1 is supply chain AI (Altana — 17%); 1 is semiconductors (Halo Industries — 17%); 1 is AI infrastructure/photonics (Celestial AI — 17%); 1 is cloud infrastructure (Oxide Computer — 17%). Defense and national security applications are a common thread across all investments.

Stage distribution: Tague-associated investments skew to growth stage: 1 Series B (Halo Industries), 2 Series C (Altana, Celestial AI), 1 Series D (Primer), 1 Series E (Shield AI), 1 Series C (Oxide Computer). No seed or pre-seed investments identified — this is exclusively a growth-stage investor.

Dual-use pattern: Every verified investment has both commercial and government/defense customers. Primer provides AI decision support for intelligence agencies and enterprises; Altana’s supply chain platform serves both government trade enforcement and corporate compliance; Halo Industries’ semiconductor manufacturing technology supports U.S. onshoring goals.

Board involvement: Tague sits on the board of Primer Technologies ¹¹¹. This suggests hands-on engagement with at least some portfolio companies.

Co-investor patterns: Within the broader USIT portfolio, frequent co-investors include Founders Fund, 8VC, Andreessen Horowitz, and Eclipse — all firms active in defense technology ¹²¹³¹⁴.

Geographic focus: All verified investments are in U.S.-based companies, consistent with the fund’s national security thesis.

Note: As Managing Partner of USIT, Tague likely plays a role in all fund investments, but only investments where he is specifically named or quoted in press materials are attributed to him individually. The USIT firm profile contains the complete portfolio of 15 verified investments ¹⁵.

Portfolio

This table includes only investments where Peter Tague is specifically named or quoted in press materials. As Managing Partner of USIT, he likely plays a role in additional fund investments — see the USIT firm profile for the complete portfolio of 15 verified investments.

In Their Own Words

“AI is revolutionizing the defense space, from intelligence gathering and threat analysis to decision support systems. Primer is developing cutting-edge decision support technology for national security and military organizations that has mission critical applications.” — Peter Tague, Managing Partner of USIT, Primer Series D announcement, June 2023 ¹

“In this new era of globalization, it is crucial for all public and private organizations to shore up their supply chains and for the whole ecosystem to maintain a streamlined, unified information flow. Altana’s supply chain intelligence software provides this collective information, empowering companies and governments to understand the vulnerabilities and opportunities within their supply chains, while still maintaining strict customer data privacy. We look forward to supporting Altana’s team as they grow these critical tools that will make global business more resilient, secure, and sustainable.” — Peter Tague, Managing Partner of USIT, Altana Series C announcement, July 2024 ¹⁰

On the evolution of M&A and geopolitics: “Our clients have gotten so much more sophisticated about the advice…that if we don’t have some degree of specialization we really aren’t credible.” — Peter Tague, then Co-head of Global M&A at Citigroup, University of Arizona Law event, April 2017 ⁷

On career advice: “Probably the best single piece of advice I’ve ever gotten” — Peter Tague, describing a British banker’s recommendation that he return to Hamilton College to finish his degree, University of Arizona Law event, April 2017 ⁷

What Founders Say

“This investor group is uniquely suited to accelerate our go-to-market efforts with both governments and enterprises globally.” — Evan Smith, Co-Founder and CEO of Altana, on the USIT-led Series C that Peter Tague publicly supported, July 2024 ¹⁰

No independently sourced founder testimonials specifically about Peter Tague’s individual contributions were found. Founder quotes about USIT as a firm are available in the USIT firm profile.

Connections

• Board member, Primer Technologies — sits on the board of the AI-powered decision support company ¹¹¹
• Former Executive Vice President, In-Q-Tel (2018-~2022) — led international expansion across UK and Australia, completing 35+ deals in seven countries ³⁴⁵
• Former Vice Chairman & Co-head of Global M&A, Citigroup (~1988-2018) — three decades in investment banking ⁶⁷⁸
• Hamilton College (Class of 1988) — anthropology major; has returned to campus as a guest speaker ⁶⁹
• USIT advisory board connections — works alongside advisory board members including Jim Breyer (Breyer Capital), Joe Lonsdale (8VC), former Secretary of the Army Ryan McCarthy, and Rear Admiral Wyman Howard ¹⁹
• Co-investor relationships — through USIT, frequently co-invests with Founders Fund, 8VC, Andreessen Horowitz, Eclipse, and Riot Ventures ¹²¹³¹⁴

Sources