Enlightenment Capital Raises $147M for Second Investment Fund

Nov 1 2016 | 6:23pm ET

Direct capital specialist Enlightenment Capital has raised $147 million in commitments for its second fund aimed at investments in middle-market aerospace, defense and government companies, exceeding its fundraising target. 

The new fund will invest in the senior debt, mezzanine debt, and minority equity of middle market aerospace, defense & government (ADG) companies. The launch comes less than three years after the company’s first fund raised $80 million in early 2014, the firm said in a statement. 

Enlightenment received capital commitments from a diverse group of investors, including insurance companies, fund of funds, family offices, and foundations. 

“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, Enlightenment’s 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.”

Enlightenment has invested in eleven ADG companies across its two funds, including UAV designer/manufacturer Aurora Flight Sciences. 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.

Based in Washington, DC, Enlightenment Capital was founded by Talbott, a former executive with D.E. Shaw, and former sell-side aerospace & defense equity analyst Pierre Chao in 2012. 


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