Enlightenment Capital surpasses goal for new investment fund

Enlightenment Capital closes its third investment fund right at the upper limit and well past its target, giving it more dry powder to make acquisitions.

Government market investment firm Enlightenment Capital said Thursday it has closed its third fund right at the hard cap of $250 million.

That breaks Enlightenment’s target of $200 million and is its third investment fund following previous funds of $147 million in 2016 and $80 million in 2014. Enlightenment invests in middle-market aerospace, defense and government services companies through both partial ownership stakes and more recently full acquisitions.

Chevy Chase, Maryland-based Enlightenment formed national security IT contractor EverWatch in October through a roll-up of four other businesses. More recently, Enlightenment acquired Trowbridge & Trowbridge as a second platform.

Other technology services contractors that Enlightenment holds partial stakes in include U.Group, CyberCore Technologies, 1901 Group, Emagine IT and System High Corp.

“We greatly appreciate the investors who continue to support us, as well as the new investors who are partnering with us for the first time,” Devin Talbott, managing partner and founder of Enlightenment, said in a release.

Talbott and co-founder Pierre Chao started Enlightenment in 2012.

Placement agent Metric Point Capital provided support for the fund raising round. Hogan Lovells served as legal counsel.