First In SBIC Critical Technologies Fund 3

United States

Seed

About First In SBIC Critical Technologies Fund 3

Pentagon-backed SBIC Critical Technologies fund. $148M oversubscribed final close. Early-stage investments in enterprise security, AI, autonomy, advanced manufacturing, and cybersecurity for national security applications.

Investment Focus

Location / RegionUnited States

Funding StageSeed

Industry Focus

Ai Ml

Cybersecurity

Defense

Manufacturing

Investor Signals Profile

active

Sweet Spot

Technical founder solving defense/autonomy/supply-chain, seed-stage

cybersecurity

defense-tech

advanced-manufacturing

autonomy & AI

space-systems

unmanned-systems

communications-networking

data-security

seed-stage

operator-led

great-power-competition

supply-chain-resilience

Bullish Signals

Fund III: $148M raised, SBA Critical Tech certificationcrunchbase

Renny McPherson + Arthur Karell: ex-Marines, operator edgewebsite

Portfolio: SCATR (data encryption), Hybron (composites), Vanguard (autonomy AI)website

Tracking hypersonics, AI-for-defense, autonomy at scalewebsite

Advisor network: Claudius Watts, Bobby Tuohy, tech depthwebsite

Dual-use tech advisor (Brian Schmanske) on rosterwebsite

Thesis: great-power competition, asymmetric attack vectorswebsite

Advanced manufacturing + AI + data = core verticalswebsite

Geopolitical tailwind: supply-chain brittle, modernization urgentwebsite

Rebecca Gevalt GP expansion signals platform maturitywebsite

Contrarian Signals

Niche sector limits deal volume velocityexternal

Defense procurement cycles can extend timelinesexternal

Regulatory/export-control overhead for foundersexternal

Founder Do's

Be technical expert or military/intel practitioner

Target asymmetric vulnerabilities, modern defenses

Address geopolitical tension themes

Show supply-chain or autonomy solve

Move fast, validate with end-users

Align with 'securing freedom' mission

Founder Don'ts

Non-technical or non-security-domain backgrounds

Late-stage or non-defense adjacent verticals

Ignore US government, allied procurement needs

Key GPs & Partners

Renny McPherson

Managing Partner

operator-networkedearly-stage convictionsecurity-aligned

Arthur Karell

General Partner

defense-tech strategistsupply-chain operatorautonomy-focused

Rebecca Gevalt

General Partner

platform-builderfund-expansion leadtech-focused

Jessica Nelson

Principal

deal-flowinvestment-opsemerging-stage

Josh Bates

Co-Host / Investor Network

founder storytellerpodcast platform

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Fund Overview

Fund Size$148M

Saves0

Website

Key People

Renny McPherson

Renny McPhersonManaging Partner

Arthur KarellGeneral Partner

Rebecca GevaltGeneral Partner

Jessica NelsonPrincipal

Josh BatesCo-Host / Investor Network

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