What Enlightenment Capital does

Enlightenment Capital is a Chevy Chase, Maryland-based private investment firm founded in 2012 that makes control and strategic non-control investments in middle-market businesses operating within the Aerospace, Defense, Government, and Technology (ADG&T) sector. The firm has raised $540 million for Fund IV (closed June 2022) and an oversubscribed $825 million for Fund V (closed 2024), deploying capital across more than 35 active and exited portfolio investments. It invests directly through management team relationships, provides strategic support for both organic and acquisition-driven growth, and partners with portfolio companies to scale into mission-critical defense and intelligence customers including the Department of Defense, U.S. Space Force, U.S. Special Operations Command, the Intelligence Community, and federal civilian agencies.

The firm operates a platform-building investment model, consolidating multiple acquisitions into scaled defense technology platforms. Core current platforms include Auria (command, control, and communications software for space and missile operations, 500+ employees post-RKF/Kythera/BCubed acquisitions); RealmOne (AI-enabled cybersecurity, data science, and analytics for the Intelligence Community, ~1,000 employees); Agile Defense (digital transformation, DevSecOps, and IT services for DoD and federal civilian agencies, 2,000+ employees post-IntelliBridge); Forterra (autonomous ground systems for defense and industrial applications, $1B valuation); Cryptic Vector (offensive cyber, electronic warfare, and secure RF communications, ~250 engineers post-Caesar Creek); Allocore (cloud-native federal platform for loans, grants, and fraud programs); Veilant (secure communications and tradecraft platforms, formerly Ridgeline International); Laxton Group (biometric identity solutions); and Expedition Technology (AI/ML-powered C5ISR for SIGINT/GEOINT).

Returns are generated through equity appreciation and exits to strategic acquirers, with a documented track record of large-scale realizations including the sale of EverWatch to Booz Allen Hamilton for approximately $440 million (October 2022), the sale of Aeyon to CGI Federal, Fenix Group to Nokia, 1901 Group to Leidos, and Infinite ID to First Advantage. The firm leverages an Advisory Board composed of former senior government officials including former Deputy Secretary of Defense, former Vice Chairman of the Joint Chiefs of Staff, and former Secretary of the Air Force, which provides differentiated access and credibility across defense and intelligence communities. Investor relations are conducted through Juniper Square and Viewpoint platforms, and the firm maintains offices in Chevy Chase with portfolio operations across the United States and select international markets.

Name

Enlightenment Capital

Legal name

Enlightenment Capital

Website

http://www.enlightenment-cap.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Private Equity Investment Management (Aerospace, Defense, Government & Technology)

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Technology & Software Growth Equity (FSANACAA)

akta.pro secondary industries

Private Equity Fundraising Placement (FSAEALAB), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

Keywords

• Middle-market private equity
• Aerospace defense investing
• Government technology investments
• National security portfolio
• Defense buy-and-build

Headquarters

HQ city

Chevy Chase

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Private Equity Investment Returns: Enlightenment Capital generates returns through equity investments in portfolio companies, realized exits via acquisitions, and ongoing portfolio value appreciation. The firm has a track record of constructing and selling companies in aerospace, defense, and government technology sectors, including EverWatch sold to Booz Allen Hamilton for approximately $440 million.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Enlightenment Capital is a private investment firm that makes control and strategic non-control investments in middle-market businesses across the Aerospace, Defense, Government, and Technology (ADG&T) sector. The firm partners with management teams, provides strategic support across organic and acquisition-based growth, and offers flexible capital solutions, building scaled platforms such as Auria (space C3 software), RealmOne (AI-enabled cybersecurity), Forterra (autonomous systems), Cryptic Vector (offensive cyber), and Veilant (secure communications).

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• EverWatch acquired by Booz Allen Hamilton for approximately $440 million
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability12 records

Feature3 records

Partnerships

Four partnerships are on record, tiered minor and core.

• BairdminorImplementation/ SI/ Consulting Partner · 12 November 2025Served as exclusive financial advisor to Expedition Technology for the strategic investment transaction.
• DLA Piper LLPminorImplementation/ SI/ Consulting Partner · 9 September 2025Served as legal counsel to Expedition Technology for the strategic investment transaction.
• Cooley LLPminorImplementation/ SI/ Consulting Partner · 9 September 2025Served as legal counsel to Razor's Edge and Enlightenment Capital for the Expedition Technology investment.
• Dai Nippon Printing Co., Ltd. (DNP)coreStrategic or Co-development Partner · 17 June 2025DNP made a majority investment in Laxton to form the world's leading identity management organization, combining Laxton's biometric technology with DNP's secure printing and digital identity platforms.

Scale indicators7 records

Recent moves11 records

Expansion highlights7 records

Emerging players

• Pivotal Investment Corporation: Pivotal Investment Corporation is a special purpose acquisition company focused on aerospace and defense technology investments — represents an emerging thematic vehicle pursuing adjacent exposure to Enlightenment's ADG&T portfolio.

Broad incumbents

• Bridgepoint Group: Bridgepoint Group is a European private equity firm with government services exposure — provides a regional perspective on defense/government investment themes relevant to Enlightenment's global footprint strategy.
• Veritas Capital: Veritas Capital is a large-cap technology and government services-focused PE firm — operates in the same government/defense technology investment space as Enlightenment Capital but at meaningfully larger scale (multi-billion funds).
• The Carlyle Group: The Carlyle Group is one of the largest global private equity firms with a major Aerospace, Defense & Government services vertical — competes with Enlightenment for middle-market defense deals and has overlapping LP base; Enlightenment founder Devin Talbott and Partner Thomas Young both worked at Carlyle.
• LLR Partners: LLR Partners is a middle-market private equity firm with a dedicated aerospace, defense, and government services vertical — Enlightenment Capital Partner Jason Rigoli was previously Head of Washington, D.C. office at LLR Partners.

Direct peers

• AE Industrial Partners: AE Industrial Partners is a private equity firm focused on aerospace, defense, government services, and specialty industrial markets — a direct competitor to Enlightenment Capital targeting the same middle-market ADG&T opportunity with similar control investment strategies.
• Stellex Capital Management: Stellex Capital Management is a private equity firm specializing in aerospace, defense, government technology, and industrial sectors — directly comparable to Enlightenment Capital in sector focus, deal size, and buy-and-build platform strategy.
• Razor's Edge: Razor's Edge is a national security-focused growth equity firm that has co-invested with Enlightenment Capital (Expedition Technology) — competes directly in defense and intelligence community technology investments with similar check sizes and growth-equity approach.
• DC Capital Partners: DC Capital Partners is a private equity firm focused on middle-market defense, government, and intelligence services — closely comparable in target market, deal structure, and platform-formation approach to Enlightenment Capital.
• ATL Partners: ATL Partners is a private equity firm focused on aerospace, defense, and industrial sectors — directly comparable middle-market defense-focused PE peer with similar buy-and-build strategies and government services focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/enlightenment-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments32 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enlightenment Capital