Enlightenment Capital invested an undisclosed amount in MicroPact, a Herndon, Virginia-based software developer that specialises in business process management, the firm announced in a statement on Monday.
MicroPact software is used by 97 percent of the federal agencies with more than 500 employees, according to the statement. The company has a compounded annual growth rate of 33 percent over the last five years.
“We are enthusiastic about the growth opportunities that lie ahead for MicroPact. We look forward to supporting the team as it continues to build on its leading position in the federal sector and capitalizes on opportunities in adjacent markets by delivering best-in-class case management and BPM software,” said Pierre Chao, managing partner of Enlightenment Capital.
Enlightenment specialises in providing debt and equity capital to companies operating in the aerospace, defense and other government-focused sectors. In February, the firm closed its debut fund on $80 million and completed an investment in Vanguard Space Technologies.
“The D&G [defense and government] part of our landscape was now viewed as out of favor thanks to the negative headlines of sequestration, political impact and budget cuts,” firm co-founder Devin Talbott told Private Debt Investor last year. “There are a number of small to midsize companies that need capital and don’t have as much opportunity to access [it].”