Advanced Manufacturing

AE Industrial Partners Fund III, LP (AEIF III) is the third flagship private equity fund of AE Industrial Partners (AEI), a Boca Raton, Florida-based investment firm founded in 2015 that has grown to manage $9 billion in total assets across private equity, aircraft leasing, and venture capital strategies. Launched in 2023 and achieving its final close in July 2024 at $1.28 billion in capital commitments, AEIF III secured backing from an institutional investor base comprising leading endowments, charitable foundations, public and corporate pension funds, financial institutions, funds of funds, family offices, and sovereign wealth funds. The fund is co-led by Michael Greene and David Rowe, Co-CEOs and Managing Partners, who together oversee a 109-person professional team with deep relationships across AEI's target end markets. AE Industrial Partners Fund III pursues control investments in market-leading companies occupying critical supply-chain "toll gate" positions across the U.S. aerospace, defense, national security, and industrial services sectors, with a focus on businesses positioned to scale production in response to sustained and growing demand from government and commercial end markets. The fund's investment mandate targets differentiated, mission-critical businesses with long-product-lifecycle characteristics—companies where AEI's specialized industry knowledge, operating experience, and relationships create tangible competitive advantage. The strategy encompasses both organic growth initiatives and acquisition-driven consolidation, leveraging AEI's established network of industry relationships built across 155-plus investments closed since 2015. Co-investment of nearly $870 million alongside Fund III capital commitments has been extended to limited partners and other investors, underscoring the depth of AEI's deal flow and institutional LP relationships. As of its announcement, AE Industrial Partners Fund III had already deployed more than 25% of committed capital into five platform investments and three add-on acquisitions: York Space Systems (commercial spacecraft manufacturing), RedLattice (cybersecurity and defense technology), Firefly Aerospace (launch vehicles and spacecraft), Yingling Aviation (aviation services), and Calca Solutions (specialty industrial services). These investments reflect AEIF III's core thesis—backing companies at the intersection of national security, advanced manufacturing, and space—sectors experiencing structural tailwinds from increased U.S. defense budgets, commercial space expansion, and supply-chain modernization initiatives. AE Industrial Partners' cumulative platform of $9 billion in AUM and 50-plus current portfolio companies positions Fund III within a market-leading franchise that has consistently been among the most active private equity investors in U.S. aerospace and defense since the firm's founding.

BPEA Private Equity Fund IX is the latest flagship fund from EQT Private Capital Asia, aiming to raise $12.5 billion, with a hard cap set at $14.5 billion. Launched in August 2024, the fund continues the strategy of its predecessor, BPEA VIII, focusing on control-oriented, large-cap buyouts across the Asia-Pacific region. The fund leverages EQT's pan-Asian coverage and bottom-up investment approach to identify value and sector trends across diverse markets. The fund targets investments in sectors benefiting from structural and secular tailwinds, including technology, services, healthcare, industrial services, and technology services. With a focus on scalable market leaders, BPEA IX aims to construct a diversified portfolio of 18 to 22 companies, each with strong growth potential and defensible market positions. BPEA IX plans to make 4 to 6 investments per year, with average equity investments of $300 million and targeting companies with enterprise values ranging from $500 million to $2 billion. The fund's strategy is designed to capitalize on favorable demographics, professionalization of under-managed assets, and corporate governance reforms across the region.

The Bintang Semiconductor Impact Fund I (BSIF I) is a MYR 200 million (approximately USD 46.56 million) impact investment fund managed by Bintang Capital Partners Berhad, a Malaysia-based alternative asset manager. Launched in October 2024, BSIF I is positioned as the first gender-lens semiconductor fund in Southeast Asia and operates under a 'carry-at-risk' structure in which the management team's carried interest is contingent on meeting defined impact performance thresholds relating to gender equity and environmental outcomes. The fund has earned a 'Gold' rating under Bluemark's FundID impact rating system and is anchored by Dana Penjana Nasional, Malaysia's government-backed catalytic fund established to co-invest in high-potential domestic growth companies. BSIF I targets growth-stage companies operating within and adjacent to Malaysia's semiconductor value chain, with a particular focus on high-tech manufacturing, automation, assembly and test, chip design, and advanced electronics. Beyond conventional financial returns, the fund applies a dual-impact framework: portfolio companies are expected to adopt measurable commitments to women's participation in leadership and skilled manufacturing roles, and to implement carbon transition initiatives aligned with Malaysia's National Semiconductor Strategy (NSS). BSIF I was developed in close collaboration with the Malaysian Investment Development Authority (MIDA) and the Federation of Malaysian Manufacturing (FMM), whose April 2025 Memorandum of Understanding with Bintang Capital formally integrated the fund into the government's strategic framework for semiconductor industry development and IPO readiness. The fund has attracted a diverse group of investors including AHAM Asset Management, the Malaysian Armed Forces Fund Board, CVC Capital Partners, and Nikko Asset Management, alongside the anchor commitment from Dana Penjana Nasional. The Bintang Capital Partners team brings extensive domain expertise to the fund's thesis: the founding partners collectively hold more than 30 years of experience in finance, operations, M&A, and electrical and electronics manufacturing, including leadership roles at MIDA and senior positions in the semiconductor supply chain. Through BSIF I, Bintang Capital Partners aims to catalyze Malaysia's ambitions as a next-generation semiconductor hub, leveraging the country's existing strengths in back-end manufacturing and its growing ecosystem of electronics innovation.

FORWARD.one Fund III is a €200 million industrial technology venture fund aiming to back Europe’s next generation of breakthrough hardware and deeptech companies. With a hard cap set at €250 million, the fund will deploy initial tickets in the range of €1–3 million, reserving additional capital for follow‑on financing. The fund intends to build a concentrated portfolio of 25–30 early‑stage companies, focusing on domains such as semiconductors, robotics, sensors, advanced automation, climate tech, and industrial innovation. Its geographic focus includes the Benelux, Germany/Austria/Switzerland (DACH), the Nordics, and other European innovation hubs. FORWARD.one brings a hands‑on, commercialization‑oriented investment style. Its value proposition is rooted in bridging the “deeptech gap” by combining technical domain expertise, rapid execution, and industry networks to help founders transform advanced research into scalable products for real markets. The fund also builds on FORWARD.one’s performance track record: Fund I (launched ~2018) delivered a net IRR of ~41 % and 2× DPI, with exits such as Sensorfact (acquired by ABB) and Mayht (acquired by Sonos). Fund II (launched ~2021, ~€145 million) is mid‑deployment, targeting similar sectors. With Fund III, the firm aims to scale its backing of Europe’s industrial tech champions and deliver strong returns for LPs.

Founders Fund Growth III is the third growth-stage venture fund from Founders Fund, a San Francisco-based firm co-founded by Peter Thiel. The fund closed at $4.6 billion in April 2025, surpassing its initial $3 billion target, with participation from 270 limited partners. This fund focuses on late-stage investments in sectors such as artificial intelligence, defense technology, and advanced manufacturing. Founders Fund aims to support companies that are developing transformative technologies with significant long-term impact. With a history of backing companies like SpaceX, Stripe, and Anduril, Founders Fund Growth III continues the firm's strategy of investing in high-growth startups poised to become industry leaders.

Industrial Growth Partners Fund VI, L.P. is the sixth flagship private equity fund raised by Industrial Growth Partners (IGP), a San Francisco, California-based middle-market buyout firm founded in 1997 and dedicated exclusively to the North American industrial sector. The fund achieved final commitments of USD 1.2 billion at close in July 2022, representing a 50% increase over the prior USD 800 million Fund V and bringing total committed capital to over USD 3.4 billion across more than 40 portfolio investments since inception. The fund is domiciled in Delaware and was advised by Cooley LLP, with PJT Park Hill as placement agent. Fund VI continues IGP's differentiated strategy of acquiring and transforming differentiated middle-market industrial businesses in North America. The firm targets companies with strong competitive positioning in niche, defensible manufacturing segments including engineered components, precision materials, specialty chemicals, web converting equipment, and industrial services, creating value through operational improvement, strategic bolt-on acquisitions, and revenue acceleration. IGP's investment thesis centers on businesses with recurring revenue, high switching costs, and meaningful barriers to entry. Equity tickets target the mid-market buyout range, focusing on companies with strong free cash flow generation and identifiable paths to operational scale. Fund VI is deploying capital into platform companies including Double E, a leading global provider of web converting and handling components, and Prince & Izant, a precision engineered brazing alloys manufacturer serving aerospace, automotive, and industrial end markets. With over 25 years of industrial sector specialization, IGP has built a deep network of operating executives, industry experts, and corporate acquirers across North American manufacturing and industrial services, enabling proprietary sourcing and differentiated post-acquisition value creation.

MMC Innovation Fund is a corporate venture capital vehicle co-established in 2019 by Mitsubishi Materials Corporation (MMC) and JMTC Capital. One of Japan's leading diversified industrials companies, Mitsubishi Materials operates globally across copper products, electronic materials, superhard tools, and cement. The fund bridges MMC's century-long industrial expertise with the innovation economy, targeting materials-focused technology companies that can accelerate the firm's strategic transformation and sustainability agenda. The fund targets early- to growth-stage companies developing advanced materials solutions, next-generation manufacturing processes, and enabling clean technologies. Core investment themes include novel battery and energy storage materials, perovskite and thin-film solar technologies, industrial process innovation, and sustainable specialty chemicals. Portfolio companies benefit from MMC's capital alongside its scientific and engineering knowledge, global manufacturing infrastructure, and established customer relationships across electronics, automotive, and clean energy end markets. Since 2023, a strategic partnership with Pegasus Tech Ventures has broadened MMC Innovation Fund's global deal sourcing pipeline across North America, Europe, and Asia Pacific, extending the fund's reach beyond Japan's domestic startup ecosystem. MMC Innovation Fund has completed four investments since its 2019 launch. Its most notable publicly disclosed commitment is a Series B participation in Enecoat Technologies, a Japanese developer of next-generation perovskite solar cell materials targeting high-efficiency photovoltaics. The fund continues to evaluate co-investment opportunities alongside the Pegasus Tech Ventures global network and MMC's in-house research centers.