How many investments has Blue Delta Capital made?

Blue Delta Capital has 23 tracked investments, including 1 dated in the last 24 months.

What stage does Blue Delta Capital invest at?

Blue Delta Capital invests at the Growth, Late Stage stages.

What is Blue Delta Capital's typical check size?

Blue Delta Capital typically writes checks of $15M – $50M.

What sectors does Blue Delta Capital focus on?

Blue Delta Capital focuses on Defense Tech, GovTech.

Where is Blue Delta Capital located?

Blue Delta Capital is headquartered in McLean, US.

Does Blue Delta Capital lead rounds?

Blue Delta Capital typically participates in rounds rather than leading them.

Who does Blue Delta Capital co-invest with?

Blue Delta Capital most often shares deals with New Enterprise Associates (NEA), Accel, Bessemer Venture Partners, among 15 tracked co-investors.

Blue Delta Capital

Growth equity

McLean · Growth–Late Stage · 21 people tracked

Also known as BLUE DELTA CAPITAL PARTNERS, LLC

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✨ Fox Verdict

Investment thesis

Blue Delta focuses exclusively on the U.S. Federal Government market, backing companies that sell into or serve federal agencies. It provides growth equity investments in exchange for non-controlling ownership positions, pairing capital with strategic input and deep federal market expertise to help portfolio companies scale within the government sector.

Invests inDefense Tech GovTech Mclean United States

Source: firm website, verified Aug 3, 2026.

Stage

Growth–Late Stage

Check

$15M – $50M

McLean, US

Leads rounds

Follows

Instruments

Equity

Founded

2009

Last 12 months

1 investment

Private fund assets

$711.2M

VC funds

Tracked investments

Team · 21 people

from the firm's website

Chris Torti· General Partner

Growth-company executive with over 30 years of experience across Government Services and commercial sectors. Formerly CEO of Jorge Scientific Corporation and founder of Cognito Road, and an early leader at Stanley Associates.

Kevin Robbins· General Partner· McLean, Virginia, United Statesin

Co-founder of Blue Delta active in all its investments. He co-founded Wolf Den Associates and Dark Wolf Solutions, and previously worked in corporate development at SRA International and investing roles at ABS Capital Partners and GE Equity.

Mark A. Frantz· General Partner· McLean, Virginia, United Statesin

Co-founder of Blue Delta involved in all of the firm's investments. Previously served as Managing General Partner of In-Q-Tel, a Principal at Carlyle Venture Partners, and held government policy roles; holds J.D. and M.B.A. degrees from the University of Pittsburgh.

Phil Nolan· General Partner· McLean, Virginia, United Statesin

Involved with Blue Delta since 2011 as a General Partner. Former Chairman, President and CEO of Stanley, Inc. (which he took public in 2006) and former CEO of Camber Corporation; serves on several public and private company boards.

Morgan Higgins· Partner· San Francisco, California, United Statesin

Joined Blue Delta in early 2019 and helps source, diligence, invest in, and scale portfolio companies. She previously served as an Executive Director at J.P. Morgan Chase focused on the Government Services sector.

Joe Del Guercio· Venture Partner· Washington DC-Baltimore Areain

Mac Curtis· Venture Partner· Arlington, Virginia, United Statesin

Mac Curtis is a Board Member and Investor at Blue Delta Capital Partners with over 35 years of experience in the government contracting industry. As Chief Executive Officer for 17 years, he oversaw more than 25 acquisitions and divestitures totaling over $9.5 billion in transaction value, and has served on boards of private equity-backed and public companies, including DCSA-compliant boards. Curtis holds appointments to civic and non-profit boards including the Virginia Commercial Space Flight Authority, Virginia Foundation for Independent Colleges, and Military Bowl Foundation, among others.

Todd Stottlemyer· Venture Partner· Washington DC-Baltimore Areain

Alison Werner· Chief Financial Officer

Joined Blue Delta in 2021 and leads the firm's finance, operations, and compliance functions. She previously held corporate and institutional banking and credit risk roles at JPMorgan and Bank of America.

Anne Altman· Advisory Board· Washington DC-Baltimore Areain

Anne Altman is the co-founder and CEO of Everyone Matters, Inc., a social impact enterprise established in 2017 that focuses on citizen-based services, healthcare access, and education. She previously spent 35 years at IBM, where she served as general manager of IBM Federal and Government Industries and led the company's global public sector business spanning government, healthcare, life sciences, and education. Altman currently serves on the Board of Visitors at George Mason University and holds positions on multiple public, private, and nonprofit boards.

Brad Baker· Associate· Arlington, VAin

Joined Blue Delta in 2026, working on sourcing, due diligence, execution, and strategy. He previously was a commercial banker at J.P. Morgan and served as a Field Artillery Officer in the U.S. Army.

Chris Murphy· Associate· Stockholm, Swedenin 𝕏

Joined Blue Delta in 2024, working on sourcing, due diligence, execution, and strategy. He was previously Corporate Development Officer at Cydecor and an investment banker at KippsDeSanto.

Deepak Hathiramani· Advisory Board· McLean, Virginia, United Statesin

Donna Morea· Advisory Board· Washington DC-Baltimore Areain

Donna Morea serves as Chair of the Board of Directors at SAIC and Chair of the Technology Committee at Truist, with over thirty-five years of experience in IT software and services. She previously spent thirty-one years at American Management Systems and CGI Group, where she served as President of CGI Technologies and Solutions overseeing IT and business process services across the US, Europe, and Asia-Pacific for clients in government, healthcare, financial services, and other sectors. Morea holds leadership positions on several corporate and nonprofit boards, including Lead Director at Share Our Strength and Chair Emerita of Wesleyan University's Board of Trustees.

Elizabeth Foster· Associate· Washington, DCin

Joined Blue Delta in early 2026 to support sourcing, due diligence, execution, and strategy. She previously worked as a Consulting Manager at Deloitte focused on the Government Services sector.

Hasan S. Alqutri· Financial Analyst

Joined Blue Delta in 2025, supporting fund operations, portfolio oversight, industry research, and transactions. He previously interned with Dark Alpha Capital and holds an M.S. in Finance from Georgetown University.

Letitia Long· Advisory Board· Arlington, Virginia, United Statesin

Lisa Disbrow· Advisory Board· Stafford, Virginia, United Statesin

Renny DiPentima· Advisory Board· Annapolis, Maryland, United Statesin

Sanju Bansal· Advisory Board· McLean, Virginia, United Statesin

Tom Ridge· Advisory Board

Founder mafia

2 people who came through Blue Delta Capital went on to found or lead other companies.

Chris MurphyAssociateFounded Saastock Deepak HathiramaniAdvisory BoardFounded Vistronix Intelligence & Technology Solutions

What they invest in

from 22 of 25 portfolio companies

GovTech ×14Enterprise Software ×9Defense Tech ×8Cybersecurity ×7AI & Machine Learning ×4Cloud Computing ×3Data & Infrastructure ×3Deep Tech ×3

HQs:United States×14

Investments · 25 tracked

founders shown can be your intro path

By year:2026 · 1 2024 · 1 2018 · 1 2016 · 25 dated

Maximusmaximus.com in 𝕏NYSE: MMS

Maximus provides technology, operational services, and human-centered design to government agencies, supporting programs across health, human services, veteran support, citizen experience, defense, and national security.

Defense TechGovTech

Aviziaavizia.com inMay 2016AcquiredSEC filingmedium confidence

Avizia provides a digital care platform integrating technology, services, and devices to support care delivery across in-person, virtual, and automated settings for providers, payers, and patients.

Cloud ComputingDigital HealthEnterprise SoftwareHealthtechBoston, US

Michael Baird(Executive Officer, Director)Ido SchoenbergRoy SchoenbergPhyllis GotlibSteven Luke Leininger(Executive Officer, Director)Corey Costley(Executive Officer)

Board seatTodd Stottlemyer· per SEC Form D · $18.1M raise · filed Jan 2017

Co-investorsMartin Ventures NextGen Venture Partners HealthQuest Capital Lavrock Ventures

Herrick Technology Laboratories, Inc.Apr 2024SEC filingmedium confidence

Germantown, US

John Slaughter(Executive Officer, Director)Acie L Vickers, Jr.(Executive Officer, Director)Ron Sayco(Executive Officer)

Board seatMark Frantz· per SEC Form D · $25M raise · filed Apr 2024

Veratoverato.com in 𝕏Dec 2018SEC filingmedium confidence

Verato provides an identity master data management platform (Verato MDM Cloud) that unifies, enriches, and manages identity data across systems.

Data & InfrastructureEnterprise SoftwareSaaSSector AgnosticMclean, US

Mark LaRow(Executive Officer, Director)J. Brent Williams(Chief Technology Officer)Grace Koh(Chief Marketing Officer)

BoardSanju Bansal(Director)inKent Bennett(Director)Arun Gupta(Director)

Board seatTodd Stottlemyer· per SEC Form D · $10M raise · filed Jan 2019

Co-investorsBessemer Venture Partners Columbia Capital

Acclaimtechnicalacclaimtechnical.com in 𝕏

Acclaim Technical Services (ATS) provides operational products, services, and solutions—including virtual reality mission preparation tools—to defense and intelligence customers for critical mission needs.

Defense TechGovTech

David Popelier(CEO)

Adhocteamadhocteam.us in

Ad Hoc provides human-centered design, software development, and systems modernization services for U.S. government agencies, including work on Medicare enrollment, the VA Health and Benefits mobile app, and health claims APIs.

AI & Machine LearningDigital HealthGovTech

Aisais.com in 𝕏

Applied Information Sciences (AIS) is a technology consulting firm that provides cloud modernization, application development, data and analytics, security, and AI/multi-agent services built primarily on the Microsoft cloud.

AI & Machine LearningCloud ComputingEnterprise Software

Brent Wodicka(Chief Technology Officer)

Amida Technology Solutionsamida.com in

Amida provides end-to-end microelectronics security services, from simulation to silicon, to protect chips from cyberattacks.

CybersecurityGovTechSemiconductors

Co-investorsIn-Q-Tel

by CG:NASDAQcarlyle.com

Co-investorsFernbrook Capital Management Walking Ventures Yieldstreet

Conceptplusconceptplus.com in

Concept Plus is an Oracle AI-focused IT services provider that delivers modernization and technology solutions to U.S. government agencies.

AI & Machine LearningEnterprise SoftwareGovTech

Coreonecoreone.com in

CoreOne creates and implements exercises, red cell operations, and test environments that simulate modern threats for national security clients.

CybersecurityDefense Tech

Csaassociatescsaassociates.com in 𝕏

CSA Associates provides consulting and support services to U.S. federal agencies, working on tasks such as complex weapon systems acquisition and large-scale modernization.

Defense TechGovTech

Edgewateritedgewaterit.com in

Edgewater Federal Solutions is an IT services firm providing cybersecurity, custom software and systems engineering, data and AI/ML solutions, and program/project management for federal government agencies.

AI & Machine LearningCybersecurityGovTechFrederick, US

Gunnisonconsultinggunnisonconsulting.com in 𝕏

Gunnison Consulting provides IT services and technology solutions to U.S.

Enterprise SoftwareGovTech

Herricktechlabsherricktechlabs.com in

Herrick Technology Labs designs and manufactures software defined radio (SDR) systems and modular electronic warfare hardware — including 3U VPX, SOSA-aligned, CMOSS-compliant chassis, enclosures, and modules — for military land, air, and sea operations.

Deep TechDefense TechHardwareGermantown, US

Chad Kettering(Chief Executive Officer)Shane Sims(Chief Growth Officer)

Itcfederalitcfederal.com in

ITC Federal is an IT services provider for U.S. federal government agencies, delivering application development and DevSecOps, cloud deployment and infrastructure, cybersecurity and compliance, federal financial systems, and business process outsourcing.

Cloud ComputingCybersecurityGovTech

Platinumequityplatinumequity.com in 𝕏

Platinum Equity is a global investment firm specializing in private equity and other alternative strategies, investing on behalf of institutional investors across a wide range of industries.

Sector Agnostic

Quadrintquadrint.com in 𝕏

Provides human capital management (HCM) and NextGen ERP modernization services for U.S. federal government agencies, covering Agile development, data integration, cloud migration, robotic process automation, and predictive AI across the employee lifecycle.

GovTechHR TechSaaS

Redhorsecorpredhorsecorp.com in 𝕏

Redhorse Corporation provides technology and data consulting services to government agencies, focusing on solving complex problems through analysis, risk mitigation, and technology-driven solutions.

Data & InfrastructureEnterprise SoftwareGovTech

Sharedspectrumsharedspectrum.com in 𝕏

Shared Spectrum Company develops dynamic spectrum access, spectrum sharing, and situational awareness technologies for reliable wireless communications in challenging RF environments.

Deep TechDefense TechHardware

Sonatypesonatype.com in 𝕏

Sonatype provides software supply chain management and security solutions for managing open source software and AI dependencies.

CybersecurityDeveloper ToolsEnterprise SoftwareFulton, US

Brian Fox(Chief Technology Officer and co-founder)inWAYNE JACKSON(Executive Officer, Director)inDAVID C. MILLER(Executive Officer)

BoardANN WINBLAD(Director)inSAMEER GANDHI(Director)inMICHAEL O'DELL(Director)

Co-investorsAccel Aspenwood Canvas Ventures Founders Circle Capital Golub Growth Hummer Winblad Venture Partners (HWVP)+2 more

Tharrostharros.com inFeb 2026

Tharros (formerly ANALYGENCE) provides cybersecurity tools and vulnerability expertise, including a vulnerability disclosure platform, cyber range development, penetration testing kits, and red/blue/purple team operations.

CybersecurityDefense TechGovTech

Unicomgovunicomgov.com in 𝕏

UNICOM Global presents itself as a provider offering expertise to support customer missions, referencing e-Procurement search capabilities.

Enterprise SoftwareGovTech

Unleashbtsunleashbts.com in

BTS (BTS Software Solutions) is a veteran-founded government contractor providing DoD and intelligence community support, including analysis, operational planning, software development, hardware and reverse engineering, and R&D for U.S. defense, intelligence, and civilian agencies.

Deep TechDefense TechGovTech

Virtruvirtru.com in 𝕏Aug 2016

Virtru provides a data security platform that applies encryption and attribute-based access controls to sensitive data shared via email, files, and SaaS apps, letting organizations set granular access policies while retaining control of their encryption keys.

CybersecurityData & InfrastructureEnterprise SoftwareSaaSWashington, US

William R. Ackerly(Executive Officer, Director)John M. Ackerly(Executive Officer, Director)John Ackerly(Co-founder)inWill Ackerly(Co-founder)

BoardDavid Cowan(Director)inScott Petry(Director)

Co-investorsBessemer Venture Partners ICONIQ Capital ICONIQ Growth ICONIQ New Enterprise Associates (NEA)Perot Jain +1 more

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Exits · 1

IPOs and acquisitions across the tracked portfolio

MaximusNYSE: MMS

Portfolio news

latest coverage across their companies

Maximus (MMS) Stock Looks Reasonable Following Its 32% YTD Decline

Maximus · finance.yahoo.com · Aug 7, 2026

Sonatype and Package Registry Leaders Unite to Address Open Source Sustainability Crisis

Sonatype · finance.yahoo.com · May 6, 2026

Tharros Secures Blue Delta Funding for Federal Cyber Defense

Tharros · cybertechnologyinsights.com · Feb 11, 2026

Exclusive: Virtru, data security company, raises $50 million Series D as valuation hits $500 million | Fortune

Virtru · fortune.com · Jul 11, 2025

Frequently asked questions

How many investments has Blue Delta Capital made?: Blue Delta Capital has 23 tracked investments, including 1 dated in the last 24 months.
What stage does Blue Delta Capital invest at?: Blue Delta Capital invests at the Growth, Late Stage stages.
What is Blue Delta Capital's typical check size?: Blue Delta Capital typically writes checks of $15M – $50M.
What sectors does Blue Delta Capital focus on?: Blue Delta Capital focuses on Defense Tech, GovTech.
Where is Blue Delta Capital located?: Blue Delta Capital is headquartered in McLean, US.
Does Blue Delta Capital lead rounds?: Blue Delta Capital typically participates in rounds rather than leading them.
Who does Blue Delta Capital co-invest with?: Blue Delta Capital most often shares deals with New Enterprise Associates (NEA), Accel, Bessemer Venture Partners, among 15 tracked co-investors.

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