Attracting and Scaling
Private Capital for
National Security
Office of Strategic Capital
The Office of Strategic Capital’s Mission
The Office of Strategic Capital equips the Department of War with specialized financial tools to scale technologies vital to U.S. national security. Authorized by the National Defense Authorization Act, OSC leverages direct loans and loan guarantees to de-risk private investment in capital-intensive sectors. By deploying capital to shift project economics, OSC encourages the investment necessary to secure resilient supply chains and scale the commercial production of critical dual-use technologies.
David Lorch
Director of the Office of Strategic Capital
Core Activities
Identify Priorities
OSC works with DoW and interagency partners to map supply chain chokepoints, capital flows, and investor behavior.
Strategic Investments
OSC offers direct, non-dilutive loans with flexible financing terms.
Transaction Advisory
OSC provides expert transaction advisory services across the DoW.
Crowd-in Capital
OSC financial tools de-risk capital-intensive and collateral-heavy projects.
Combined Solutions
OSC loans can be combined with sources like private equity and grants to fully fund a project.
Debt Terms Overview
Capital
$210 billion
Underwriting
Backed by hard collateral, EBITDA, or free cash flow.
Terms
10-20-year tenors with zero prepayment penalties.
Rates & Service
Bespoke structures with flexible interest, scaling from a modest premium to Treasuries.
Use of Proceeds
CapEx, equipment, and working capital across 34 mandated technology categories.
OUSW(R&E)
The Pentagon
Office of the Under Secretary of War,
Research and Engineering (OUSW(R&E))
3030 Defense Pentagon, Washington, DC 20301-3030