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National Security and Defense Innovation

Contacts

Nancy A. Fischer
Partner, Washington, DC
T: +1.202.663.8965
Marques O. Peterson
Partner, Washington, DC
T: +1.202.663.8022
Steve D. Ryan
Partner, Northern Virginia
T: +1.703.770.7511
Justin Rubin
Senior Counsel, Washington, DC
T: +1.202.663.8082
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Areas of Focus

From formation to exit, Pillsbury’s cross-practice team advises clients on the legal, regulatory, commercial and strategic issues shaping growth at the intersection of the defense innovation, national security ecosystem, emerging technology and capital formation.

Driven by the exponential pace of advancement of today’s technology, the Department of Defense (DOD) is shifting its R&D and procurement priorities to next-generation technologies and “non-traditional” defense contractors to strengthen national security and maintain a qualitative military edge over existing adversaries and new threats. From AI and cyber resilience to dual-use technologies (commercial and government), emerging companies and investors are finding new pathways to engage with the DOD and other national security agencies to create value.

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Venture capital firms, family offices and institutional investors are increasingly backing emerging defense companies. Firms and innovators alike are shifting the defense landscape away from legacy players. Partnerships between capital allocators and DOD innovation units like DIU and AFWERX are expanding, and the Office of Strategic Capital is supporting investments in stated national security priorities.

We advise clients wholistically—from startups to established defense contractors—on market entry, DOD engagement, strategic investment and cross-border transactions, ensuring alignment with CFIUS and export control regulations. Whether raising private capital or connecting with congressional stakeholders we provide the legal insight and strategic access to accelerate growth.

Our work includes:

  • Assisting global companies in their efforts to establish and grow a U.S. presence.
  • Corporate formation and business structure optimization to remain compliant and flexible.
  • Accessing and executing various funding options, including venture capital/private equity and private credit.
  • Advising U.S. venture, strategic and growth equity investors on transactions with defense-related portfolio companies.
  • Navigating the DOD and other security agencies and identifying the best pathway for operational success—including with respect to facility security clearances and foreign ownership, control or influence (FOCI) requirements.
  • IP protections, including copyrights, patents, trademarks and trade secrets with government IP rights considerations.
  • U.S. government funding and incentives through Congress and the military services.
  • Cybersecurity, data privacy and protection requirements for handling sensitive information.
  • U.S. government contracting, including CRADAs and OTAs.
  • Export control compliance and counseling, including with respect to ITAR and EAR.
  • Comprehensive regulatory support associated with new and emerging technologies.
  • National security criminal and civil investigation advocacy, including with respect to DOJ, DOD Office of the Inspector General (OIG) and export control agencies.

Representative Experience

  • Secured hundreds of millions of dollars in federal budget through defense appropriations and by working with senior DOD and Department of Homeland Security officials. Assisted Shield AI in its initial capital raise, a unicorn in this sector.
  • Assist major aircraft system manufacturer on multiple direct commercial sale (DCS) transactions, selling its UAS and related services to national defense departments of international customers in Europe and elsewhere, as well as to/through NATO.
  • Represented three defense contractors in negotiating standby letter of credit, escrow, collateral security and related arrangements securing payment obligations under international defense contracts.

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  • Represent first Y-Combinator defense investment—Theseus Technology Corporation—with a cross-functional team from Corporate, GOVCON, and Government Affairs practices
  • Support full-service market entry for early-stage defense companies from Israel, Australia and Singapore, and future expansion to other allied countries, such as Finland and Sweden.
  • Represented sellers in two nine-figure, sell-side M&A transactions to a leading defense technology company.
  • Guided space launch company and defense contractor through the CFIUS review process in connection with foreign investments and provide strategic guidance on anticipated fundraising rounds to minimize CFIUS and FOCI mitigation concerns.
  • Assisted Shield AI, a unicorn in this sector, in its initial capital raise.
  • Assisted UK defense firm with setting up a U.S. presence and mitigating FOCI to enable the U.S. entity to obtain a facility security clearance and work on cleared U.S. government contracting opportunities.
  • Provide ongoing export licensing, government contracting support, export classification, and compliance guidance to a major U.S. defense manufacturer with global production operations.
  • Assisted multiple defense-focused unmanned aerial systems (UAS) and counter-unmanned aerial systems (c-UAS) manufacturers with comprehensive corporate, litigation, regulatory, and public policy advice.
  • Represented defense aerospace manufacturer in connection with criminal civil investigations related to ITAR and DFARS specialty metals requirements.
  • Helped company whose facility security clearance had been invalidated by DOD both successfully get acquired and also re-validate its security clearance.

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