First In Announces Final Closing of SBIC Critical Technologies Fund 3 with $148 Million of Investable Capital

Licensed by the U.S. Small Business Administration as an SBIC Critical Technologies Fund to Invest in Early-Stage Security Technology Companies

First In today announced the oversubscribed final closing of First In Fund 3 SBIC Critical Technologies, LP, a fund licensed as a Small Business Investment Company Critical Technologies ("SBIC-CT"). The fund closed with investor commitments and SBA-guaranteed leverage of $148 million and will focus its investments in early-stage security technology businesses.

First In was approved by the U.S. Small Business Administration ("SBA") as an SBIC-CT licensee as part of the federal government's effort to expand private investment into sectors essential to U.S. national security and economic resilience. The SBIC-CT program, administered in coordination with the Office of Strategic Capital ("OSC"), is designed to mobilize private capital investment in small businesses operating in high-priority technology sectors.

"Being granted an SBIC Critical Technologies license is the next step in the intentional and disciplined approach we've taken since inception," said Renny McPherson, Managing Partner of First In. "We built First In to partner with entrepreneurs transforming the security technology ecosystem, and Fund 3 allows us to deepen that commitment in support of technologies critical to our nation's resilience."

First In provides long-term capital and partnership to founders addressing complex national and commercial security challenges. The firm was an early investor in defense technology company Castelion as well as Adlumin, a leading cybersecurity company acquired by N-able (NYSE:NABL).

"As highlighted by General MacArthur, ‘Security lies in our ability to produce,' and we approach a variety of security-related themes like AI, autonomy, and advanced manufacturing holistically," said Arthur Karell, General Partner at First In. "Our SBIC Critical Technologies platform allows us to partner with founders defining these themes for modern security."

The SBIC Critical Technologies initiative represents a public-private partnership designed to channel private capital toward industries essential to U.S. strategic competitiveness. As a licensed SBIC-CT fund, First In joins a select group of investment firms authorized to deploy SBA-backed leverage in support of critical technology innovation.

About First In

Founded in 2020, First In is an early-stage venture capital firm dedicated to investing in cybersecurity, defense technology and data-driven security platforms. The firm partners with technologists, practitioners and leaders building technologies critical to commercial resilience and national security. For more information, please visit www.wearefirstin.com.

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