Enlightenment Capital to launch SBA-backed fund

Months after capping its third investment fund and securing ownership in IT contractor Trowbridge & Trowbridge, Enlightenment Capital will soon see new investment backing for its newest fund from none other than the Small Business Administration.

Enlightenment executives said Monday that the Chevy Chase investment firm was selected to participate in the SBA’s Small Business Investment Company (SBIC) program, which offers selected investors venture capital funding in the form of SBA-backed loans that can be directed toward small businesses. 

As a designated SBIC, Enlightenment will receive $2 for every $1 the firm invests in qualified small businesses through either debt or equity stakes issued through the new fund, providing new capital to direct toward businesses in the aerospace, defense and government sectors. 

Those businesses must have a net worth of less than $19.5 million and average net income of less than $6.5 million for the prior two years or be qualified as a small business…

Read the full story from the Washington Business Journal.

Log in to your WTOP account for notifications and alerts customized for you.

Sign up