Andrew Chang, managing director at United Airlines Ventures, is one of the 100 leading corporate venturing professionals in our 2026 Powerlist.
Andrew Chang is the managing director of United Airlines Ventures and heads corporate development and strategy for United Airlines.
Launched in 2021, the corporate venturing unit now has a strong five-year track record and focuses on aerospace technology, customer-facing innovation and sustainable aviation fuel (SAF).
UAV has already had considerable impact with its Sustainable Flight Fund (SFF), boasting more than $200m in committed capital from 22 corporate backers, including United Airlines, Google, Boeing, Chase, GE Aerospace and Honeywell.
Over the past year, UAV deployed capital in companies operating across its three core pillars: aerospace, travel technology and renewable energy/SAF, including deals for Navi AI, Blockskye, Dfinitiv, Mindtrip, Layla, JetZero, Astro Mechanica and Twelve.
Aside from capital, UAV also provides other types of support to its portfolio companies.
“In the case of SAF investments, we are not a fuel producer, but we are one of the largest fuel consumers, so we can definitely give them insights on regulatory approvals and certifications, as well logistics and distribution. When it comes to aerospace technology, we have even more to offer – anything from test pilots with extensive experience to external and internal partnerships to leverage,” Chang said for his GCV Powerlist 2024 award.
This foundational philosophy has further enabled United Airlines to better serve its brand-loyal customers by evaluating automation opportunities and data-driven insights to create bespoke customer-engagement opportunities.
Chang started his career as an analyst at Credit Suisse and subsequently spent 15 years, between 2004 and 2019, working at financial advisory and asset management firm Lazard, rising through the ranks from senior analyst to vice-president and director. Prior to joining United Airlines, he served as senior vice-president at Intrepid Financial Partners, focusing on energy transition and sustainability.
As UAV invests in technologies requiring significant capital and coordination amongst multiple stakeholders, its main challenge lies in convincing startups to prove the viability of their technology, believes Chang.
“It’s important for early-stage companies to try not to provide all solutions to all customers all at once. Differentiation of a new technological approach while leveraging existing infrastructure and supplier/customer networks is important to scaling quickly and cost-effectively. This is where United Airlines acting as both a potential customer and investor can provide value and guidance,” he said.
The GCV Powerlist represents the 100 individuals spearheading the future of the corporate venturing industry.
These individuals excel in terms of their venturing approach and structure, number and quality of portfolio companies and in their contributions to the corporate venturing profession.
Here’s a snapshot of their recent deals:
