Bluestone backs missile defense and space tech company
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By
Ross Wilkers
The private investment firm is undertaking this move via a license it received to back promising small businesses whose technologies align with the Defense Department's priorities.
Earlier in the summer, Bluestone Investment Partners established a vehicle to back small businesses it sees as promising for what they bring in terms of emerging technologies and new service offerings.
Bluestone's first move on that front sees the firm invest in Qualis Corp., a provider of missile defense and space systems solutions to defense and civilian agencies. Terms of the move announced Thursday were not disclosed.
Qualis provides modeling, simulation and testing services to a customer base that includes the Army Space and Missile Defense Command, Air Force Test Center, Space Force, Space Development Agency, Missile Defense Agency and NASA.
The 310-employee company started in 1993 and is headquartered in the defense and space hub that is Huntsville, Alabama. Qualis is looking to add more clients in the market's missile defense and satellite communications corners beyond its longstanding Defense Department and NASA core.
In June, Bluestone became the first firm to receive a SBIC Critical Technologies Initiative License. SBIC stands for Small Business Investment Company fund, through which investors receive venture funds to back small businesses via agency-supported loans.
The Small Business Administration and DOD jointly run the SBICCT initiative as part of their push to increase private capital investments in 14 key areas, which Pentagon leaders have called out as priorities in their National Defense Science and Technology Strategy.
For Qualis, the development of new offerings in satellite communications path diversity is where the company sees alignment to that strategy.