SEC Proposes Rule to Raise Threshold for Qualifying VC Funds
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SEC Proposes Rule to Raise Threshold for Qualifying VC Funds

The Securities and Exchange Commission has proposed a new rule that would update the definition of a qualifying venture capital fund.

SEC said Wednesday it proposes to raise the dollar threshold for a fund to qualify as a qualifying venture capital fund from $10 million to $12 million aggregate capital contributions and uncalled committed capital based on the Personal Consumption Expenditures Chain-Type Price Index.

The proposed rule would also establish a process for future inflation adjustments every five years in accordance with the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018.

According to the Commission, qualifying venture capital funds are excluded from the Investment Company Act’s definition of an “investment company.”

OSTP Provides Guidance on Conflict Disclosure, Talent Recruitment for Federal Projects With Other Countries
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OSTP Provides Guidance on Conflict Disclosure, Talent Recruitment for Federal Projects With Other Countries

The White House Office of Science and Technology Policy issued two memos to ensure data security of government research projects that collaborate with foreign agencies and talent.

In a statement released Wednesday, OSTP explained its new Policy Regarding Use of Common Disclosure Forms for federal research, accompanied by guidance on foreign talent recruitment programs for government research and development agencies.

The first memo serves as an aid to help agencies use the proper conflict disclosure forms when reviewing proposals for foreign R&D partnerships. With this guidance, OSTP aims to prevent conflict and duplication of the U.S. projects with other countries.

The second memo, which is backed by the CHIPS and Science Act, defines recruitment programs for foreign talent in federal projects. Part of its purpose is to weed out suspicious recruitment agencies.

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SSC Uses SpaceX’s Falcon 9 Rocket to Launch Missile Detection, Tracking Satellites for MDA & SDA
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SSC Uses SpaceX’s Falcon 9 Rocket to Launch Missile Detection, Tracking Satellites for MDA & SDA

Six satellites of the Space Development Agency and Missile Defense Agency aboard SpaceX’s Falcon 9 rocket lifted off Wednesday from a launch complex at Cape Canaveral Space Force Station in Florida as part of a U.S. Space Force mission.

USSF-124 is a National Security Space Launch mission launched by Space Systems Command to bring the satellites to low Earth orbit to deliver networked communications, missile detection and missile tracking capabilities to the U.S. and its allies, SSC said Wednesday.

For USSF-124, the command reused a first-stage booster that previously backed six missions.

“As we move forward together with SpaceX, we’re methodically expanding reuse to leverage the benefits for the USSF and our space vehicle teammates. The mission team was able to add the Tranche 0 satellites to USSF-124 in under 30 days, less than six months from the then scheduled launch date,” said Walt Lauderdale, AATS mission director at SSC.

“This unprecedented responsiveness is a needed capability for the Space Force to confront today’s threat environment,” added Lauderdale.

Two of the six spacecraft are for MDA’s Hypersonic and Ballistic Tracking Space Sensor and the remaining four satellites are for the Tranche 0 Tracking Layer of SDA’s Proliferated Warfighter Space Architecture.

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SBA Opens Up New Opportunities With Small Business Investment Company Program
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SBA Opens Up New Opportunities With Small Business Investment Company Program

The Small Business Administration has reported milestones as a result of the implementation of regulatory and policy reforms to the Small Business Investment Company program, or SBIC. Through the program, SBA is working to accelerate the flow of private investment in startups and small businesses in underserved communities and technology areas that are key to U.S. national security and economic development.

In July 2023, program reforms were implemented through the SBIC Investment Diversification Growth Rule, which updated the program’s structural aspects and launched the SBIC Accrual Debenture, SBA said Wednesday.

The SBIC Accrual Debenture is SBA’s new government-guaranteed loan that seeks to “match the cashflow patterns of equity-oriented investment strategies” and enable the agency to license and offer loans to private funds that invest in startups and small companies.

One of the milestones achieved is the approval received by Stifel North Atlantic to secure an SBA-DOD SBIC Critical Technologies license and receive a commitment of funds from SBA. Stifel intends to improve the resilience of the domestic supply chain by fostering the adoption of additive manufacturing capabilities in lower-middle market businesses.

The second milestone is the approval of the first SBA Accrual SBIC license in December. Salt Lake City-based technology venture capital firm Pelion Ventures will manage the license.

In fiscal year 2023, SBA released $4.05 billion in commitments to SBICs, which sustained or created approximately 130,281 jobs.

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DOD OIG Recommends Remedies for Issues Concerning Management of Cost-Plus-Award-Fee Contracts
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DOD OIG Recommends Remedies for Issues Concerning Management of Cost-Plus-Award-Fee Contracts

The Department of Defense’s Office of Inspector General has issued a report offering 12 recommendations to contracting officials to address concerns regarding the management and administration of cost-plus-award-fee contracts, known as CPAF.

Released Wednesday, the report suggests implementing a process for calculating the contractor’s award fees in accordance with the approved award-fee plan criteria; recalculating the prior award-fee amounts earned by the contractor to identify overpayments; and establishing a platform to accurately capture all relevant cost-plus-award-fee data.

The OIG made the recommendations after reviewing 27 CPAF contracts to determine how the department’s contracting officials oversee such contracts.

According to the report, such officials provided effective oversight of vendors’ performance and justified award fees paid for CPAF contracts.

However, the report found that contracting officials failed to properly justify award fees paid for three contracts and did not comply with DOD and federal policies when conducting management and administration for 78 percent of the reviewed 27 CPAF contracts.

“The findings in this audit illustrate the need for the DoD to improve its contracting practices,” commented Robert Storch, inspector general of the DOD. “Robust justifications for award fees paid to contractors reduce the risk that contractors are paid more than they earned.”

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Vice Adm. Brad Cooper Named CENTCOM Deputy Commander
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Vice Adm. Brad Cooper Named CENTCOM Deputy Commander

Vice Adm. Brad Cooper, most recently commander of the Fifth Fleet and CMF or the Combined Maritime Forces, has taken on the role of deputy commander of U.S. Central Command.

CENTCOM announced the move in a post published Monday on the social media platform X.

“Brad’s leadership, experience, and spirit of innovation will serve CENTCOM incredibly well going forward,” commented Gen. Michael Erik Kurilla, commander of CENTCOM.

Cooper, a career surface warfare officer, previously served as chief of legislative affairs for the U.S. Navy, commander of Naval Surface Force Atlantic, head of the Expeditionary Strike Group 7 in Japan and commander of U.S. Naval Forces Korea.

He served on aircraft carriers, guided-missile destroyers, amphibious assault ships and guided-missile cruisers and held executive, special assistant and military assistant positions in the White House, the Office of the Secretary of Defense, U.S. Pacific Fleet headquarters and U.S. Africa Command.

Cooper handed over command of the Fifth Fleet and CMF to Vice Adm. George Wikoff during a ceremony on Feb. 1 at Naval Support Activity Bahrain.

Wikoff also assumed command of U.S. Naval Forces Central Command and the International Maritime Security Construct during the ceremony.

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CISA Requests Proposals for TIES Cybersecurity Threat Intelligence Prototype Project
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CISA Requests Proposals for TIES Cybersecurity Threat Intelligence Prototype Project

The Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency has begun seeking proposals from industry sources capable of building a prototype cybersecurity threat intelligence platform under the Threat Intelligence Enterprise Service, or TIES, program.

CISA seeks to award an other transaction agreement to develop and establish a CTI exchange platform and data feeds for use initially by federal civilian executive branch agencies for the TIES minimum viable product, according to a notice posted Wednesday on SAM.gov.

The CTI exchange platform will be a centralized mechanism that will work to streamline the provision of cyber threat intelligence from multiple government and commercial sources.

The platform must understand the indicators of compromise characteristics from the threat intelligence feed source.

Interested parties have until March 4 to respond to the request for proposals.

CISA Requests Proposals for TIES Cybersecurity Threat Intelligence Prototype Project

The Potomac Officers Club will host the 2024 Cyber Summit on June 6 to discuss the ever-evolving role of cyber across the government sector. Click here to register!

Verizon to Provide 5G Network Connectivity at Fort Bliss
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Verizon to Provide 5G Network Connectivity at Fort Bliss

Verizon will provide 5G network service for a new cellular tower being constructed by Boldyn Networks at Fort Bliss in El Paso to give service members in Texas and New Mexico access to improved wireless coverage and network services.

The company said Wednesday it will work with Boldyn Networks and AAFES to build 10 Macro towers at the U.S. Army installation to boost 5G broadband connectivity to support mission-critical operations across the states.

“Verizon supports our military partners through a number of innovative products and services, from 5G deployments, including Private 5G, to improved enterprise infrastructure,” said Martin Mallady, associate director for Verizon’s Department of Defense business arm.

“At the core, our work with the U.S. Dept. of Defense focuses on improving operational capabilities and also the quality of life for the soldiers and families living on military installations. Once completed, this new cellular tower on Fort Bliss will do just that,” Mallady added.

The construction of the new cellular infrastructure kicked off with a groundbreaking ceremony held Wednesday.

Verizon also offers 5G connectivity to military personnel and their families at the U.S. Army Garrison Hawaii’s Helemano Military Reservation.

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4 Ways 4×24 Builds Lasting GovCon Brands
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4 Ways 4×24 Builds Lasting GovCon Brands

The 4×24 Leadership Series is the most elite of the programs offered by Executive Mosaic, the Capital region’s premier government contracting media and networking company. 4×24 is built around monthly dinners that gather the foremost leaders in specific fields within GovCon — AI, cloud, chief technology officers, 5G, among others — to mingle and share ideas. Each closed-door, Chatham House rule dinner invites a different notable guest speaker from the government to give their remarks and spark dialogues.

4×24 is membership-only and limited to executives with appropriate pedigree. Inquire here if you think you would be a good fit for the program.

Here are four reasons why you should consider applying:

  1. Relationships are expansive

Many of 4×24’s members have maintained membership across their careers, during tenures at multiple companies. 4×24 is more than just a company-backed perk, it’s a career-long relationship-builder. Executives return due to the new connections they can begin and the years-long connections they forge with both other members and EM’s helpful, accommodating team.

  1. Groups are topic-specific

A major feature that distinguishes 4×24 from other networking organizations are its group designations. Receptions before dinner allow for conversations with members of any of the individual groups, but once meals are underway, members are seated alongside those with whom they share business interests and skill sets. This allows for the most productive and focused sessions to occur.

  1. Unparalleled, intimate government access

Each month’s dinner gives each group a chance to speak frankly with government guests, who are chosen based on their relevance to groups’ interests and information they need to make progress in their work. Due to bureaucracy and busy schedules, even well-respected industry members are rarely given this level of access to high-ranking government officials.

  1. Senior executives only

There is always value in conversing and trading ideas with companies and executives of all sizes and statures. However, there is also an immense benefit to sharing ideas amongst a group whose achievement level is comparable to your own. Members love 4×24 because they know whoever they’re next to is a colleague working at the same pace (and competing for similar contracts).

These are just some of the many reasons executives return to the 4×24 Leadership Series year after year! If this program sounds like a good fit for you, click here or email info@executivemosaic.com.

Cubic’s Mac Curtis & Lockheed’s Maria Demaree Named to 2024 Wash100 List
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Cubic’s Mac Curtis & Lockheed’s Maria Demaree Named to 2024 Wash100 List

On Thursday, Executive Mosaic recognized 2024 Wash100 Award winners Mac Curtis, chairman of the board at Cubic, and Maria Demaree, vice president and general manager of national security space at Lockheed Martin.

Each year, the 100 most outstanding executives working in the federal government and government contracting sector are named to the Wash100 list. These individuals are the best and brightest in their fields, and they show great promise for shaping the future of the GovCon landscape.

This year, Curtis earned his eighth Wash100 recognition for “driving the adoption of digital intelligence business platforms and analytics to address near-pear challenges,” according to his Wash100 profile. Throughout his career, Curtis has held senior positions at Vencore, later Perspecta and now Peraton, and Veritas Capital.

Demaree has now been inducted into the Wash100 ranks for the second consecutive year. She’s honored for driving space innovation, developing integrated platforms in support of national security missions and strengthening support to warfighters through critical technologies. Read more about Demaree here.

Vote for Mac Curtis and Maria Demaree in the 2024 Wash100 popular vote competition! Of our 100 esteemed Wash100 recipients, only one can be crowned the winner of the popular vote. Cast your ten votes today at Wash100.com.

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