Ridgeline secures $180 million government-backed fund for defence and civilian tech
Updated
Updated · The Wall Street Journal · Apr 30
Ridgeline secures $180 million government-backed fund for defence and civilian tech
10 articles · Updated · The Wall Street Journal · Apr 30
The Memphis-based venture firm raised about $81 million from private investors including FedEx, then added government debt through the SBA and Pentagon-backed SBIC Critical Technologies Initiative.
The structure lets Ridgeline borrow 1.25 times private capital, with interest deferred for 10 years or until distributions, while excess profits flow to limited partners and the firm.
Ridgeline, founded in 2019 by Ryan Clinton, Ben Walker and Andrew McMahon, targets startups with commercial traction that can later win government business as defence-tech investment accelerates.
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