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§ Venture Capital · VA, USA
private investment firm investing in private equity and senior debt opportunities in the defense and government technology sector.
Enlightenment Capital is a Chevy Chase, Maryland-based private investment firm that provides private equity and senior debt financing to middle-market companies operating within the aerospace, defense, and government technology sectors. The organization structures its private financial investments to support management buyouts, strategic recapitalizations, and organic growth initiatives for businesses serving national security and intelligence needs. Operating at scale across the United States defense industrial base, the firm currently manages a total of six closed investment vehicles, most recently completing the capital raise for Enlightenment Capital Solutions Fund V in December 2024. Its portfolio consists of specialized contractors supplying technical capabilities to the U.S. government, with notable historical investments including national security firm EverWatch, which was subsequently acquired by Booz Allen Hamilton in 2022. Enlightenment Capital was officially founded in 2012 by current Chief Executive Officer Devin Talbott.
Key people at Enlightenment Capital.
Enlightenment Capital has 6 tracked investments across 2 companies. The latest tracked deal is $238.0M Series C in Forterra in November 2025.
Key people at Enlightenment Capital.
Enlightenment Capital is a private equity investment firm specializing in growth capital and strategic support for middle-market companies primarily in the Aerospace, Defense, Government, and Technology (ADG&T) sectors. The firm’s mission centers on partnering with businesses that serve critical national security and mission-driven markets, providing them with flexible capital, industry expertise, and operational guidance to accelerate growth and innovation. By focusing on companies that operate in rapidly evolving and high-impact sectors, Enlightenment Capital aims to drive technological advancement and enhance national security capabilities, thereby influencing the broader startup and defense ecosystem through strategic investments and active portfolio management[1][2][4].
Founded in 2012 and headquartered in Chevy Chase, Maryland, Enlightenment Capital was established with a focus on investing in mission-critical industries that underpin national security and technological innovation. Key partners include Devin Talbott (Founder and CEO) and other senior investment professionals who bring deep sector expertise. Over time, the firm has evolved to emphasize both control and strategic non-control investments, tailoring its approach to support organic growth and acquisition-driven expansion within its target sectors. This evolution reflects a commitment to long-term partnerships with management teams and a nuanced understanding of policy, technology trends, and operational challenges in the ADG&T space[2][5].
Enlightenment Capital operates at the intersection of national security innovation and commercial technology advancement, riding the trend of increased government and defense spending on cutting-edge aerospace, cybersecurity, and data analytics solutions. The timing is critical as geopolitical tensions and technological competition drive demand for advanced capabilities in defense and intelligence sectors. Market forces such as digital transformation in government agencies, the rise of AI and machine learning in defense applications, and the modernization of aerospace systems favor firms like Enlightenment Capital that can provide both capital and strategic insight. By backing companies that innovate in these areas, the firm helps shape the future of mission-critical industries and supports the broader ecosystem of startups and established firms addressing national security challenges[2][3][4].
Looking ahead, Enlightenment Capital is poised to continue expanding its influence by investing in next-generation technologies that enhance defense and government operations, such as AI-powered C5ISR (Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance, and Reconnaissance) solutions and autonomous systems. Trends like increased cybersecurity threats, space technology development, and data-driven decision-making will shape their investment focus. The firm’s ability to provide strategic support alongside capital positions it well to help portfolio companies scale and adapt in a dynamic environment. As national security priorities evolve, Enlightenment Capital’s role as a strategic partner will likely deepen, reinforcing its impact on the innovation landscape within mission-critical sectors[2][4].
