Leonid Capital Partners (“LEONID”), an alternative investment management firm focused on private credit with the U.S. National Security market, is pleased to announce the oversubscription and upcoming final closing of Leonid Opportunities Fund I LP. The oversubscribed fund is closing with approximately $240 million of capital commitments, including an investment from Victory Park Capital. Broadly exceeding its initial target, LEONID received strong support from both new and existing institutional investors.
“We are incredibly grateful for the strong support of existing partners and new relationships in exceeding our target raise, particularly given the challenging fundraising environment over the past year. We look forward to building upon these partnerships as we work diligently to deliver outstanding results for our clients,” said James Parker, Co-Founder of LEONID.
LEONID launched its private credit strategy in 2019 to capitalize on the growing opportunity in the U.S. Federal contracting space. The strategy seeks to generate consistent current income with strong downside protection through corporate secured lending, sized and structured around U.S. Federal contracts, with a particular focus on National Security. LEONID maintains a differentiated approach through diversification across this novel asset class and focuses on smaller and less crowded parts of the market, with transaction sizes generally between $1 and $25 million.
With the upcoming final closing, Fund I will have drawn 40% of its current capital commitments, reflecting a deep pipeline of existing funding partnerships and newly sourced opportunities across the expanding U.S. National Security ecosystem.
“We have continually differentiated our asset-based private credit platform with a focus on robust collateral and consistent cash flow in a mission-critical, and highly differentiated niche market,” said Chris Lay, LEONID’s Co-Founder. “Amidst higher rates, market uncertainty, and liquidity constraints in the traditional banking sector, we are excited about the risk/reward dislocation we’ve identified in the Government sector. We are grateful for the support of our partners and look forward to continued success together.”
About Leonid Capital Partners
LEONID is the leading financial services platform supporting U.S. Federal Government contractors. As an official Department of Defense Trusted Capital Provider, LEONID offers advance financing on all government contracts, including SBIR and STTRs, and can help companies improve their strategic and working capital position to help finance growth strategies and manage operating expenses. Learn more at leonidfinance.io.