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Bailey McCann, Opalesque New York:

Private equity investor Advent International has announced a plan to invest up to $1 billion in defense companies.

Advent International has a long standing defense investment strategy and the announcement underlines how important the firm thinks defense companies will be going forward. Since 2020, Advent has deployed more than $15 billion across the global defense sector, including investments in Cobham, Ultra Electronics, Vantor, and Attalon.

As part of this commitment, Advent has signed a definitive agreement to make an initial investment in the defense technology company Shield AI, co-leading its $1.5 billion Series G funding round, which values the company at $12.7 billion. Founded in 2015, Shield AI develops AI-powered autonomous systems to support air operations, with a mission to protect service members and civilians through intelligent technology.

Shield AI has also announced that it will acquire simulation software firm Aechelon Technology with the increased funding. Aechelon Technology, a Sagewind Capital portfolio company, specializes in high-fidelity simulation, physics-based sensors, and synthetic reality for military training. Its technology supports the Pentagon's Joint Simulation Environment and trains pilots and autonomous systems. The two companies will work on projects to support the development of the Hivemind AI project which has a defense focus.

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