On September 3, Cherokee Federal, a division of Cherokee Nation Businesses (CNB), announced the launch of Sovereign Capital, a growth capital firm created to leverage Cherokee Federal’s deep experience in the federal contracting market.
For the initial investment under the Sovereign Capital strategy, CNB has acquired a majority stake in Virginia-based Advanced Technology Applications (ATA). Founded in 2008, ATA is a small business that delivers full lifecycle data-intensive solutions across multiple domains, data types and challenges. ATA has team members, partners and customers in 25 states across the country. With a variety of products and technologies spanning aviation, space, defense, emergency management and enterprise modernization, ATA customers include the U.S. Department of Homeland Security, U.S. Department of Defense, and the U.S. Intelligence Community.
“This is another exciting step in our strategic growth journey, and I am proud to showcase our continued commitment to innovation across our businesses,” said Steven Bilby, president of Cherokee Federal and Sovereign Capital. “With Sovereign Capital, we have a distinct opportunity to leverage decades of experience in federal contracting and a successful track record of achieving growth through M&A activity.”
“What energizes us the most about this new partnership is leveraging an extended range of contracting solutions which makes it easy for our customers to access ATA’s expertise and technical solutions,” said Craig Parisot, president and CEO of ATA. “We were evaluating a number of different strategies to achieve our next stage of growth, and the partnership with Sovereign Capital clearly stood out as the right fit.”
Sovereign Capital aims to identify and nurture companies that perform work on behalf of the federal government and are poised for significant growth. It specializes in funding founder-led companies at crucial inflection points, investing both capital and proven strategies for rapid growth.
“What we are building with Sovereign Capital is much more than an investment firm – it is a catalyst for the transformative growth of small businesses,” said Squire Lawrence, VP and general manager of Sovereign Capital. “Our team of tenured and experienced leaders are passionate about extending our reach in the expansive government contracting space and investing in highly capable businesses. ATA is a dynamic and innovative company that aligns perfectly with our strategic goals.”
Source: Cherokee Federal
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By Loren Blinde
September 4, 2024
