Enlightenment Capital seeks $200 mln for Fund III

  • PE firm returns to market 1.5 years after closing Fund II
  • Chicago’s Metric Point Capital listed as placement agent
  • Invests in aerospace, defense and govt. services sector

Enlightenment Capital is targeting $200 million for its third fund, according to an SEC filing.

The Washington, D.C.-area firm invests in aerospace, defense and government services companies. Its previous vehicle closed in 2016 with $147 million raised, exceeding the target. Fund I closed on $80 million in early 2014.

It’s unclear what the hard cap is for Enlightenment Capital Solutions Fund III. Metric Point Capital of Chicago is listed on the filing as placement agent. Managing Partner Devin Talbott declined to comment.

Talbott, who previously developed D. E. Shaw’s defense and government investing vertical, founded Enlightenment in 2012 with Pierre Chao, formerly managing partner of aerospace and defense consulting firm Renaissance Strategic Advisors. Chao serves as operating partner.

Based in Chevy Chase, Maryland, Enlightenment has prominent connections in the national security sector. Its advisory board includes Bob Work, deputy secretary of defense from 2014 to 2017, and James Cartwright, retired Marine general and former vice chairman of the Joint Chiefs of Staff.

The firm makes senior-debt, mezzanine-debt and equity investments in middle-market businesses. Last month, Enlightenment announced an investment in ByteCubed, a provider of business-intelligence and data-analytics technology and consulting services to federal and commercial clients.

Action Item: Check out Enlightenment Capital’s portfolio companies here.

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