Koch Industries launches a venture capital group

Koch Industries has launched an early-stage venture capital arm that will be led by Chase Koch, the son of company chairman and CEO Charles Koch.

Bottom line: Charles and David Koch might differ strongly with most of Silicon Valley on politics, but they believe there can be alignment when it comes to disruptive technologies.

• It's called Koch Disruptive Technologies, and will be separate from the company's private equity group (Koch Equity Development), which is supporting Meredith Corp.'s takeover of magazine publisher Time Inc.
• No word on dollar allocations, but a Koch source calls it a "significant focus" for the company, as evidenced by putting the boss' son in charge.
• Also on the team will be new hire Jason Illian, founder and ex-CEO of a Dallas-based startup called BookShout.
• Its first deal was announced this morning: Leading a $150 million Series E round for INSIGHTEC, an Israel-based developer of MRI-guided ultrasound devices for surgery.
• Per an internal email from Koch CFO Steve Feilmeier: "We all know that the rate of change in the marketplace is accelerating. This is a threat to every business we operate; however, it also creates opportunity if we identify and invest in those entrepreneurs and technologies that can improve our businesses or potentially create a new business platform."
• Go deeper: Politico's Nancy Scola recently wrote on the unexpected partnership between Koch and Silicon Valley.