Private Capital Fuels Defense: ONE Bow River Backs LEAP's Space Vision

COLORADO SPRINGS, Colo. – December 17, 2025 – In a move that underscores the growing fusion of private capital and national security, ONE Bow River National Defense Fund has announced a significant strategic investment in LEAP, an emerging aerospace firm poised to disrupt the launch industry. The infusion of capital is set to fast-track the development of LEAP's next-generation launch vehicles, expand its manufacturing footprint, and scale flight operations to meet surging demand from both government and commercial sectors.

The partnership highlights a critical trend in the modern space race: the reliance on agile, private companies to solve the Pentagon's most pressing challenges. LEAP, with its focus on rapid-response and mass-producible launch systems, represents a direct answer to the Department of Defense's call for more resilient and affordable access to orbit.

A Strategic Partnership for Space Superiority

This investment is more than a financial transaction; it's a strategic alignment aimed at bolstering U.S. space capabilities. The Department of Defense (DoD) has increasingly emphasized the need for "responsive launch"—the ability to rapidly deploy or replace satellites to maintain operational superiority in an era of heightened geopolitical competition. As adversaries like China and Russia advance their own counter-space capabilities, the U.S. is shifting toward more resilient satellite architectures, such as large constellations in low-Earth orbit, which require a launch provider capable of high-frequency, cost-effective missions.

ONE Bow River, a fund specifically designed to invest in technologies crucial to national security, sees LEAP as a perfect fit for this new paradigm. "LEAP is building exactly what the national security community has been asking for, affordable, responsive, and operationally relevant launch capabilities," said Kevin O'Neil, Chief Investment Officer at ONE Bow River. "We believe LEAP is positioned to redefine access to space for DoD mission partners. We see a clear path for LEAP to become a strategic asset to the United States."

The funding will directly support the continued development of LEAP's Bullfrog and Bighorn launch vehicles and help execute programs for key clients, including the Missile Defense Agency and Space Systems Command. For LEAP, the partnership provides more than just capital; it offers invaluable strategic support.

"ONE Bow River is the right strategic partner for LEAP as we move from development into scaled execution," stated Chris Beckman, Chief Executive Officer of LEAP. He highlighted that the fund's "defense relationships, operational expertise, and alignment with national security priorities accelerate our path" to fielding their launch systems.

Bridging the "Valley of Death" with Private Capital

The collaboration between ONE Bow River and LEAP serves as a powerful case study for a new model of public-private partnership championed by the Pentagon. Central to this model is the DoD's Office of Strategic Capital (OSC), established in 2022 to attract and scale private investment into technologies vital for national defense. The OSC's primary mission is to help promising companies cross the infamous "Valley of Death"—the perilous gap between developing innovative technology and securing the large-scale government contracts needed for full production and deployment.

ONE Bow River is at the vanguard of this initiative, being the first private equity fund to receive a Critical Technologies (CT) designation from the government. This status grants it preferred access to government deal flow and favorable financing options, enabling it to invest with confidence in companies like LEAP. The fund's portfolio, which includes firms like data solutions provider Bluestaq and spaceflight software specialist Odyssey Space Research, demonstrates a clear and consistent strategy of backing companies that form the backbone of modern defense infrastructure.

By channeling private funds into the defense industrial base, ONE Bow River not only seeks to deliver returns to its shareholders but also to actively strengthen U.S. technological superiority. This model allows the DoD to leverage the speed and innovation of the commercial sector without bearing the full financial risk of early-stage technology development.

LEAP's Vision: Redefining Access to Orbit and Beyond

In a crowded market of launch providers, LEAP distinguishes itself with a focus on simplicity, speed, and scalability. The company's core innovation lies in its proprietary propulsion technology and modern manufacturing techniques, designed to create "mass-producible" and "cost-effective" launch solutions. This approach stands in stark contrast to the traditionally complex and expensive process of building and launching rockets, a bottleneck that has long hindered responsive space access.

By designing systems for rapid manufacturing, LEAP aims to create an assembly line for space access, capable of meeting the high-tempo demands of deploying and replenishing large satellite constellations. This capability is not just a 'nice-to-have' but a foundational requirement for the resilient space architecture envisioned by the U.S. Space Force.

Furthermore, LEAP's ambitions extend beyond conventional satellite deployment. The company is also targeting the nascent but potentially transformative market of "global point-to-point logistics." This futuristic concept involves using space-based vehicles to deliver cargo anywhere on Earth in a fraction of the time required by traditional aircraft. While still in its early stages, the space logistics market is projected to grow exponentially, with some estimates predicting it will reach over $37 billion by 2034. LEAP's technology could position it as a key player in this future economy, transporting critical supplies for both defense and commercial purposes at unprecedented speeds.

This dual-use potential makes the company particularly attractive, as its core technology can serve a broad range of applications, from ensuring national security to enabling next-generation global commerce. The investment from ONE Bow River will be crucial in turning this ambitious vision into an operational reality.