November 1, 2016 | by Iris Dorbian
Enlightenment Capital has raised $147 million for its second fund. Fund II’s limited partners include insurance companies, fund-of-funds, family offices, and foundations. Based in the Washington, D.C. area, Enlightenment focuses on mid-market companies in the aerospace, defense and government sectors.
Chevy Chase, Maryland – November 1, 2016: Enlightenment Capital has closed its second fund with total capital commitments of $147 million, exceeding its fundraising target. Enlightenment is a private investment firm providing senior debt, mezzanine debt, and minority equity to middle market Aerospace, Defense & Government (ADG) companies. The firm was founded by Devin Talbott and Pierre Chao in 2012.
The closing of Fund II comes less than three years after the close of the firm’s first fund, which was $80 million and closed in early 2014. Enlightenment received capital commitments from a diverse group of investors, including insurance companies, fund of funds, family offices, and foundations. The fund will continue to execute on Enlightenment’s strategy of investing throughout the balance sheet in innovative businesses at the intersection of an underserved middle market and a changing ADG landscape.
“We are grateful for the new investors that joined Enlightenment’s second fund and for the original fund investors who have renewed their commitments,” said Devin Talbott, Managing Partner. “And we are thrilled to be able to expand on our strategy of backing innovative entrepreneurs tackling a range of national security and government challenges.”
“We continue to look for the brightest companies in the aerospace and government services sector,” added Jason Rigoli, Partner. “We strive to be both a capital and a strategic partner and will continue to build out a strong portfolio of ADG companies.”
So far, Enlightenment has invested in eleven ADG companies across its two funds, including most recently Aurora Flight Sciences, a UAV designer / manufacturer, and Gleason Research Associates, an engineering services firm. Enlightenment also recently exited its initial investment from Fund I with the sale of Vistronix, a cyber and data analytics firm with a focus on the intelligence community.
Enlightenment was the Company’s first third-party capital provider and supported Vistronix through six acquisitions.
Enlightenment Capital, a Washington, DC-area based private investment firm, provides senior debt, mezzanine debt, and minority equity to middle market companies in the Aerospace, Defense & Government (ADG) sector. The firm partners with management teams, equity sponsors, and those businesses that provide vital services, protect critical infrastructure, innovate cyber and data solutions, engineer aerospace systems, safeguard national security, and endeavor to meet the challenges of today and tomorrow. For more information, visit www.enlightenment-cap.com.