Ajax Defense Investment Fund

Investing In National Security

At Ajax Defense, we invest in U.S. defense and aerospace small businesses to strengthen critical supply chains. Our mission is rebuilding the defense industrial base for a more resilient future.

View Offering Terms Why Invest

$50M

Initial Maximum Offering

$150M

Aggregate Maximum Amount

$100K

Minimum Investment

Company Overview

Ajax Defense
Investment Fund

Ajax Defense Investment Fund (ADIF) is raising long-duration equity to co-invest alongside Ajax Defense, Inc., directly into newly acquired U.S. defense and aerospace precision-manufacturing businesses.

The Tier 2/3 supplier base is fragmented, aging, and under-capitalized — while the demand on qualified, ITAR-compliant, domestic capacity is rapidly increasing. Ajax buys these companies, modernizes them, and compounds their value over a 10–15 year hold.

Operator-led: Veteran founder with a team of experienced executives in the aerospace industry
Proven platform: Two operating companies (Whelan, BiTec - SMI) acquired pre- fund, prove the approach to long-term growth.
Patient capital: Long term investment horizon fits the defense industry need for capital investment and capacity expansion that compounds equity capital.

“Our approach combines strategic capital, operational expertise, and industry access to help businesses expand capabilities, capture new opportunities, and achieve sustainable growth while preserving the strengths that made them successful.”
- Patrick Malcor, CEO

The Investment Case

Five Compelling
Reasons to Invest

The following factors distinguish this Offering and reflect the structural advantages of investing alongside the Ajax Defense Investment Fund.

A rising tide in defense and aerospace

Record, multi-year order backlogs in the defense industry and a massive jet backlog driving long term growth in aerospace.

Fragmented supply chain in Tier 2/3 where Ajax Defense invests

Thousands of small, owner-operated shops with no succession plan. Undercapitalized for modernization and lacking key compliance systems.

Experienced management with a proven track record in industry

In place and proving the model in two existing subsidiaries, both potentially growing over 140% in 2027.

Active deal pipeline ready to invest

Clear & focused investment criteria. Currently 12 targets in process including a mix of proprietary and advisor-led opportunities offering scale and new capabilities to the platform.

Opportunity to invest in U.S. national security and revitalization of defense industrial base

Join our mission to rebuild the defense industry through long-term investment in resilience and modernization.

Business Summary

Strategy & Operations

Growth Strategy

Our deliberate growth strategy combines customer expansion with disciplined operational excellence. The Ajax Defense Investment Fund delivers total value creation primarily from organic revenue growth and margin enhancement, compounded in a long-term holding period.

A clear investment strategy focuses on lower middle market manufacturing companies with $3 - 10M EBITDA, established performance track records with long standing customers, and proven operational management teams. No turnarounds or companies trying to “pivot” to defense.

Use of Proceeds

Offering and Marketing Expenses 0.2%

Placement Fees to RIAs 5%

Purchase of ownership and debt instruments in entities in the Defense and Aerospace industry 94.4%

Legal and Consulting Costs 0.2%

Other Fund operational expenses 0.2%

Development Milestones

Q4 2026 - Q1 2027

Close initial $50M equity investment in Fund

2027

Complete 2 acquisitions from current pipeline targeting $8M minimum EBITDA contribution

2028

Raise additional $100M capital to Fund

Market Analysis

The Macro
Opportunity

The U.S. defense supply chain is critically undersupplied at the Tier 2/3 level, and the federal government is spending unprecedented sums to fix it. Annual DoD procurement exceeds $400 billion. Record prime contractor backlogs—Lockheed Martin at $194 billion, RTX at $268 billion—are cascading demand onto a manufacturing base that has contracted 40% over two decades. The suppliers who remain face a compliance wall: CMMC Level 2 certification, ITAR controls, and AS9100D quality standards that most small shops cannot achieve – both Ajax's current subsidiaries have all the above qualifications.

Ajax is on the right side of every one of those trends.

$760B

FY 2027 DoD modernization budget*

$480B

Market for aerospace parts manufacturing**

18,000

Machine shops in the U.S.***

$1.5T

National defense budget request FY 2027*

Offering Terms

Terms of the
Offering

This Offering is conducted pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended. Securities are offered exclusively to verified accredited investors. Investors must complete accreditation verification prior to receiving subscription documents.

Accredited Investor Requirements

To qualify as an accredited investor, you must meet one of the following: (a) individual net worth exceeding $1,000,000 excluding primary residence; (b) individual income exceeding $200,000 in each of the two most recent years; or (c) joint income exceeding $300,000 with a spouse or spousal equivalent.

Invest Now

Issuer	Ajax Defense Investment Fund
Offering Type	Regulation D, Rule 506(c) — Private Placement
Security Type	Equity Financing in the form of Class A Limited Liability Membership Interests
Initial Maximum Offering	$50,000,000
Aggregate Maximum Offering	$150,000,000
Minimum Investment	$100,000

Investing In National Security

Ajax Defense
Investment Fund