A National Security Venture Studio
Continued service to the Nation through innovation.
Providing Service Academy graduates with leadership paths to build technology companies for the National Security industry.
What is the ADF
Not a venture fund. Not an accelerator. A problem solver.
The Academy Defense Foundry is a 501(c)(3), problem-first venture studio that connects commercial firms and university research and IP to trained military veterans with firsthand expertise — creating and fielding dual-use technologies that solve national security problems five times faster than traditional FAR procurement.
Who it serves
Separating and retiring Service Academy and Special Operations leaders seeking ownership and a continued mission beyond the uniform.
For whom
The warfighter, the Department of War, defense agencies and primes — customers who need validated solutions in months, not years.
Why it matters
Valuable research and technology never reach the mission because no one connects it to a buyer with an urgent need. ADF starts with the problem and builds the company that can deliver.
Why Now?
The gap between promising technology and real defense needs.
Broken Acquisition
The Pentagon acquisition system is too slow, too costly for today's threats, and relies on a fragile industrial base that is falling behind.
The Context Gap
While investors flood in, civilian entrepreneurs lack the context, security clearances and 'insider trust' to navigate the new military acquisition system.
A Flood of Capital
$49B in venture capital flowed into defense tech in 2025, growing to an estimated $77B in 2026. The DoW is leaning on the nation's entrepreneurial ecosystem to reinvent procurement.
Service Academy graduates are uniquely positioned to bridge the gap — with clearances, credibility, and mission DNA that's hard to replicate.
Acquisition reform creates the biggest defense startup window in 60 years.
JCIDS is dead — speed is the standard
New structures (MEIA & JAR) fund experiments with warfighters before RFPs are issued. Startups that engage during problem validation win.
Portfolio Acquisition Executives
Empowered PAEs control entire portfolios. Decision cycles compress from months to weeks — but there is a tech gap with PAEs.
Commercial-first is the default
A presumption of commerciality means 85% of capability now will often beat 100%-compliant alternatives that take years to field.
The window is open — not for long
71% of veterans leave service with defense tech ideas, yet less than 30% launch companies. Early movers secure disproportionate advantage.
The soft underbelly of the Defense Industrial Base
Beneath the primes sits a fragmented network of ~25,000 small manufacturers generating $15–30M in revenue — producing components no platform can function without, yet structurally vulnerable.
The Silver Tsunami
Owners near retirement seek liquidity, yet 66% have no formal succession plan. Set-aside businesses can't easily sell, so the contracts walk.
Technical Underinvestment
Strong manufacturing, weak digital backbone — manual processes and cyber exposure leave sensitive design files vulnerable to adversaries.
Business-Development Lethargy
Set-aside firms lack the BD apparatus and cash to grow, transacting at suppressed multiples of just 4–6x EBITDA.
How ADF Works
The problem-to-deployment engine.
ADF leverages a proven venture studio model — providing capital, mentorship, a support team and partnerships, and nurturing each company through one to three years of hands-on support.
- 1
Source the problem
Validated mission needs from DIU, SOFWERX, SpaceWERX, the Services, NASA and defense primes.
- 2
Match technology & IP
Search university patent portfolios and commercial technology for the right fit, and handle licensing.
- 3
Recruit & train veterans
Mission-fluent Service Academy and SOF leaders, trained through the ADF School of Grit.
- 4
Partner commercially
Find capable commercial companies to serve as accountable leads and teaming partners.
- 5
Build the solution
Run focused sprints, then build what's missing — company, leadership, capital plan and transition pathway.
Who Should Engage
Built for those who build the mission.
Veteran Entrepreneurs
Service members and veterans seeking ownership and a continued mission — self-starters ready to lead a defense technology company.
Engage →Research Universities
Turn research and IP into fielded solutions, generating licensing revenue, sponsored research and student opportunities.
Engage →Technology Partners
Commercial firms with dual-use technology looking for a faster, validated path to the military customer.
Engage →Government & Industry
DoW, agencies and defense primes with urgent problems that need mission-fluent teams to solve them.
Engage →Why ADF
What no other venture studio can replicate.
Proven Leaders with Deep Context
Graduates who have commanded military units and understand the nuance of today's military challenges.
Operator Networks
Direct relationships with military units, program offices, the DoW innovation ecosystem and acquisition decision-makers.
Security Clearances
Graduates arrive with DoW clearances that take civilian founders years and significant cost to obtain.
Mission DNA
A service-first mindset creates founders that defense customers trust.
Institutional Credibility
200+ years of West Point, Annapolis and Air Force Academy credibility opens doors at DoW, DARPA, DIU and the primes.
Proven Execution
Co-founder of SOFWERX for USSOCOM; sprints already completed in response to DIU challenges with UCF.
Who is ADF
Built by those who have served in the profession of arms and the profession of entrepreneurship.
Mark Swanson
USMA '82 · CEO & Co-Managing Partner
- — Co-Founder/CEO/CTO of 6 VC-backed companies; raised over $140M
- — 5 successful exits, including 1 unicorn
- — Co-Founder of SOFWERX
Dave Tompkins
USMA '85 · General Partner, Fund I
- — Technology operating executive in 6 startups with 3 exits
- — Part of a $9B+ supply chain startup exit
- — Venture investor & mentor in 30+ veteran-led startups
Corey Reiser
USMA '11 · Veteran Startup Education
- — 10-year Army combat veteran
- — 3x founder, 1 exit
- — Founder of School of Grit — startup education for veterans
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