Leonid Capital’s Nat Sec Evergreen Credit Fund Tops $265M in Commitments

Leonid Capital Partners said that it has surpassed its 2024 fundraising goals, with its evergreen fund securing more than $265M in capital commitments year to date, and the firm in turn advancing over $125M to borrowers this year.

Leonid’s model involves accepting government contracts, as lendable assets, which in turn provides growth capital for the early- and mid-stage companies to which it lends. Those companies typically operate in the software, biotech, and engineering spaces within the national security industry.

Leonid said demand in the niche space is strong, with the average size of its investments growing from $2.1M to $8.3M over the last two quarters. Further, Leonid said that 75% of its portfolio companies have nearly doubled their revenue during their loan periods and over 40% of loan recipients have returned for additional funding.

Source: https://www.businesswire.com/news/home/20241121872146/en/

Written By: Dakota

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