LFG x Anduril 2025
Terms
Valuation: ~$23B (~$35.40/sh)
Our previous investment in Oct 2024 was at a valuation of ~$17.58B ($27.30/sh).
Anduril is trading on EquityZen at a $51B valuation (~222% premium).
Structure: secondary, LP interests
Management Fee: 6% (one-time, upfront) for Non-Members | 3% for LFG+ Members
Carry: 20% for Non-Members | 15% for Members
Priority: Members will receive priority to limited allocation.
Timeline
Priority will be given to LFG+ Members and on a first come first serve basis.
Commitment due ASAP
Signature and funds due on/around February 11th
Click to Commit
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About Anduril
Manifesto
Here is Anduril's manifesto.
Memo
Here is a confidential investment memo.
Company Overview
Anduril Industries is a technology and defense company founded in 2017 by Palmer Luckey, the inventor of Oculus VR. The company is headquartered in Los Angeles, California, and has offices in Washington D.C. and other locations. Anduril's mission is to develop and deploy advanced technologies to protect national security and defend against emerging threats.
Market Opportunity
The global defense market is projected to reach $1.7 trillion by 2025, driven by increasing investments in modernization and innovation. Anduril is well-positioned to capitalize on this trend by developing cutting-edge technologies such as autonomous systems, artificial intelligence, and augmented reality. The company's focus on emerging threats and asymmetric warfare also presents a significant market opportunity.
Product
Anduril's product portfolio includes the Anduril Autonomous Ground Vehicle (AGV), a modular and scalable autonomous system designed for reconnaissance and surveillance missions. The company is also developing advanced sensors and software solutions for defense and security applications. Anduril's products are designed to be adaptable to a range of environments and scenarios.
Competitive Advantage
Anduril's competitive advantage lies in its ability to develop and deploy advanced technologies quickly and efficiently. The company's focus on innovation and R&D allows it to stay ahead of the curve in terms of technology development, and its partnerships with leading defense contractors and government agencies provide access to significant resources and expertise.
Business Model
Anduril's business model is focused on developing and deploying advanced technologies for defense and security applications. The company generates revenue through the sale of its products and services to government agencies, defense contractors, and other customers. Anduril also partners with leading defense companies to develop and integrate its technologies into existing systems.
Traction
Anduril has made significant progress in a short period of time, with a growing team of over 200 employees and a portfolio of products and technologies that are being used by government agencies and defense contractors. The company has also secured significant funding from leading investors and has established partnerships with major defense companies.
Management
Anduril's management team includes Palmer Luckey, the company's founder and CEO, who has a strong background in technology and innovation. The company's leadership team also includes experienced executives from the defense and technology industries, including former government officials and defense contractors.
Funding
Anduril has received significant funding from leading investors, including a $450 million Series C round in 2020 led by Fidelity Management & Research Company. The company has also received funding from other investors, including Valor Equity Partners, Founders Fund, and others.