■  Investment Criteria

Four Prerequisites.
No Exceptions.

Every company Bellator LLC considers must satisfy all four prerequisites before any other evaluation begins. These are binary — not factors to be weighed or partially satisfied. A company that meets three of four will not be considered until all four are achieved.

Prerequisites Sector Focus Stage & Size Team Requirements Our Process

The Four Prerequisites

Binary.
Non-Negotiable.

Bellator's four prerequisites exist because they define the specific market where the firm has operational expertise, cleared access, and a proven track record. They are not arbitrary filters — they reflect the precise conditions under which Bellator LLC can add value beyond capital.

Companies that do not yet meet all four prerequisites are encouraged to return when they do. Bellator LLC does not make exceptions, and does not invest in companies on the path to meeting the prerequisites — only in companies that have already met them.

Important Note

Meeting all four prerequisites does not guarantee investment consideration. It is the minimum threshold required to begin a conversation. Sector fit, team quality, and market timing are evaluated separately.

01
Required
Top Secret Facility Clearance (Unsponsored)
An active, DCSA-granted Top Secret Facility Clearance confirmed via DISS. The clearance must be unsponsored — meaning it was obtained and maintained by the company independently, not held on behalf of a specific government sponsor.
Interim clearances and clearances held under a sponsor's umbrella do not satisfy this requirement.
02
Required
Tampa, FL Headquarters
The company's principal place of business must be located in Tampa, Florida, or 50% or more of its operations must be conducted within the Tampa / MacDill AFB corridor.
Companies headquartered elsewhere with a Tampa satellite office do not qualify unless the majority of operations are Tampa-based.
03
Required
Active Prime U.S. Government Contract
The company must hold at least one active prime contract directly with the U.S. government. The company must be the prime contractor of record — not a subcontractor, teaming partner, or pass-through vehicle.
Subcontracts, teaming arrangements, and IDIQ vehicles without a task order do not satisfy this requirement.
04
Required
QSBS-Eligible Business
The company must be a domestic C corporation that meets the requirements of IRC §1202 (Qualified Small Business Stock). This includes active business requirements, gross asset tests, and corporate structure requirements.
LLCs, S corporations, and companies that have exceeded the §1202 gross asset threshold are not eligible.

Sector Focus

Where Bellator LLC Deploys Capital

Bellator LLC invests in product, software, and services companies serving U.S. Special Operations Command (SOCOM) and the Intelligence Community (IC). The firm does not invest in commercial technology companies, dual-use platforms without a cleared customer base, or defense primes without a proprietary product or methodology.

AI and machine learning defense technology visualization
AI / ML & Advanced Analytics
Applied to intelligence analysis, targeting, and operational decision support. Not commercial AI applications or general-purpose ML platforms.
Command and control operations center
C4I Software & Systems
Command, control, communications, computers, and intelligence platforms purpose-built for SOF and IC operational environments.
Cybersecurity and zero-trust network visualization
Cybersecurity & Zero-Trust
Classified network solutions, zero-trust architecture, and endpoint security for cleared environments and sensitive compartmented information facilities.
Geospatial intelligence and multi-INT fusion
GEOINT & Multi-INT Fusion
ISR data processing, geospatial intelligence, and multi-source fusion platforms that integrate SIGINT, HUMINT, IMINT, and OSINT for operational use.
Unmanned aerial system and counter-UAS technology
UAS & C-UAS Technology
Unmanned aircraft systems and counter-UAS platforms serving SOF mission requirements — including ISR, logistics, and kinetic applications.
Military logistics and operational planning software
Logistics & Planning Software
Sustainment, supply chain, and operational planning tools for SOF and Geographic Combatant Command customers with active prime contracts.
Military training and simulation environment
Training & Simulation
Synthetic environment, live-virtual-constructive, and simulation platforms for SOF mission rehearsal, collective training, and individual skills development.
Cleared professional services SCIF environment
Cleared Professional Services
Technical services companies with proprietary methodologies, tools, or platforms — not commodity staffing or body-shop models without intellectual property.

What Bellator LLC Does Not Invest In

✕
Commercial technology companies without a cleared customer base or active government contract
✕
Dual-use platforms where the defense application is secondary or speculative
✕
Commodity staffing or professional services firms without proprietary IP, tools, or methodologies
✕
Hardware-only companies without a software or services component that generates recurring revenue
✕
Companies operating exclusively as subcontractors or teaming partners without prime contract history

Stage & Check Size

Pre-Seed &
Seed Stage.

Bellator LLC deploys capital at the earliest stages of a company's lifecycle — before institutional investors are typically willing to engage with defense technology companies. The firm's proprietary capital structure and operator network allow it to move quickly and decisively at stages where speed and credibility matter most.

Bellator LLC does not lead Series A or later rounds. Companies that have already raised institutional capital are generally outside the firm's investment scope, though exceptions may be considered for follow-on investments in existing portfolio companies.

Criteria Details
Stage Pre-Seed and Seed. Occasionally early Series A for follow-on investments in existing portfolio companies.
Initial Check $250K – $1M initial investment. Reserve capital maintained for follow-on rounds.
Revenue Revenue-generating companies preferred. Pre-revenue companies considered if all four prerequisites are met and a prime contract award is imminent.
Valuation Evaluated case-by-case. Bellator LLC does not publish valuation caps or floors. Pricing reflects the company's cleared status, contract backlog, and team quality.
Structure Equity preferred. Convertible instruments considered for pre-seed stage. No debt-only structures.
Board Seat Board observer or board seat typically required. Structure negotiated at term sheet.
Geography Tampa, FL headquarters required (see Prerequisite #2). Remote-first companies do not qualify.

Team Requirements

Who Bellator LLC Backs

Bellator LLC invests in teams, not just technologies. The firm looks for founding teams with direct operational experience in the environments their customers serve, demonstrated ability to navigate the cleared contracting process, and the credibility to open doors at SOCOM and IC customer organizations.

Operational Background
At least one founder with direct military, intelligence, or cleared contractor experience in the SOF or IC environment. Not required to be a veteran — cleared civilian experience qualifies.
Cleared Leadership
The CEO or a key executive must hold an active Top Secret / SCI clearance. The company's cleared facility must be in good standing with DCSA.
Contracting Competence
Demonstrated ability to win and execute prime government contracts. The team must understand FAR/DFARS compliance, DCAA audit requirements, and the cleared contracting lifecycle.
Builder Mentality
Founders who are building a company — not consulting. Bellator LLC backs teams with a product or platform vision, not teams that are primarily executing on a single contract.
Customer Access
Existing relationships at the program office, command, or agency level. The team should be able to open doors independently — Bellator's network augments, not replaces, founder-led business development.
Tampa Presence
The founding team must be based in or willing to relocate to Tampa. Bellator LLC does not back remote-first teams. Proximity to MacDill AFB and the SOCOM community is a competitive advantage, not a formality.

Our Process

How We Evaluate Companies

Bellator's evaluation process is direct and efficient. There are no investment committees, no LP approval cycles, and no extended diligence timelines driven by external governance. Decisions are made by the principals.

01
Prerequisite Screen
All four prerequisites are verified before any further evaluation. This step is binary and typically completed within 48 hours of initial inquiry.
02
Initial Call
A 30–45 minute call with the founding team to assess sector fit, team quality, and current business status. No deck required for this call.
03
Diligence
Focused diligence on contract backlog, cleared facility status, team backgrounds, and technology differentiation. Typically 2–3 weeks.
04
Term Sheet
If diligence is satisfactory, Bellator LLC issues a term sheet directly. No committee approval required. Decisions are made by the principals.
05
Close
Legal documentation and close. Bellator LLC moves quickly once a term sheet is signed. Target close within 30 days of term sheet execution.
Submit an Inquiry

Ready to Connect?

Does Your Company Qualify?

If your company satisfies all four prerequisites and operates in one of Bellator's target sectors, we want to hear from you. Inquiries are reviewed directly by the principals — no intermediaries, no intake forms routed to an associate.

Submit an Inquiry Learn About Bellator LLC