Exclusive to members of the LFG network 🚀
LFG x Anduril
CONFIDENTIAL
Terms
Valuation: ~$17.58B
Structure: our SPV is purchasing LP interests in a single-layer fund
Management Fee: 1.5% annually (capped at 5 years, paid upfront)
Carry: 20%
Re: Valuation
The Series F primary valuation was ~$14B. The $1.5B round was oversubscribed with $5B+ in demand. Our sources are aware of multi-million dollar secondaries transactions as high as $33/share plus fees (~$21.3B valuation). As always, LFG partners have skin in the game investing personal capital alongside you at the same valuation, which we believe to be favorable based on what we have seen in the market.
Re: Economics
These are your all-in economics. For the avoidance of doubt, there is no additional layer of fees or expenses. For transparency, you will see a breakdown of the economics when you onboard your investment.
Timeline
10/5: signature due
10/8: funds due
Closing
Onboard your investment here.
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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.
Press
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Please note that nothing herein constitutes or should be construed as financial or investment advice. While the information is believed to be accurate, it may include estimates, errors, or inaccuracies. You are responsible for conducting your own due diligence. You are solely responsible for determining whether any investment, investment strategy, security, or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. Investors and users should consult with licensed legal professionals and investment advisors for any legal, tax, insurance, or investment advice. Investing in private is extremely speculative and involves a high degree of risk. You should not invest unless you are in a position to lose the entire amount of your investment. No public market currently exists for this opportunity, and there can be no assurance that such a public market will ever exist.