Endeavour

Series ARaised Since Featured

Buy now, pay later for defense

Cash advances and credit financing for government contractors in defense and space.

Founded January 2019Huntington Beach, CA10-25 people$265M+ raisedFeatured at Seed

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FintechDefenseGovernmentLendingPrivate CreditAerospaceNational Security

About

Endeavour (now Leonid Capital Partners) provides non-dilutive financing to government contractors and defense-tech startups. Founded in 2019 by Chris Lay and James Parker, the company advances up to 90% of government invoices within hours, solving a critical cash-flow gap for contractors waiting on government payments. As one of only 20 DoD Trusted Capital Providers, Endeavour serves contractors working with NASA, US Army, Air Force Research Labs, Space Force, and Navy. The company rebranded to Leonid Capital Partners in April 2022 and has since scaled dramatically — raising over $265 million for its evergreen private credit fund, advancing over $125 million to borrowers, and growing average investment size from $2.1M to $8.3M. Approximately 75% of portfolio companies nearly doubled their revenue during the transaction period. The firm now offers revolving lines of credit, term loans, venture debt, and acquisition financing across defense, aerospace, and government technology sectors.

DailyDropout Take

Endeavour caught our eye as a creative fintech play targeting a massive underserved market — government contractors who can't get traditional bank financing due to contract cancellation clauses. With DoD Trusted Capital Provider status and advisors like a retired three-star general, they had the credentials to back up the ambition. The rebrand to Leonid and subsequent $265M+ raise validated the thesis.

Discovery signal: DoD Trusted Capital Provider designation (1 of 20), unique founder backgrounds (neuroscience PhD + astrophysics), $2.8T addressable market in defense spending

What Makes Them Unique

One of only 20 DoD Trusted Capital Providers, Endeavour uniquely combines defense-sector expertise with private credit financing, offering non-dilutive capital to government contractors who are typically underserved by traditional banks due to 30-day contract cancellation clauses. The founders' unusual backgrounds in neuroscience and astrophysics bring a distinctive analytical lens to defense finance.

$265M+

Total Raised

$125M+

Capital Advanced

$8.3M

Avg Deal Size

~75% of borrowers nearly doubled revenue

Revenue Impact

Target Markets

Defense ContractorsSpace TechnologyCybersecurityGovernment TechnologyAerospace

Founders

Chris Lay

Co-Founder & CEO

PhD in Neurobiology, MBA from USC. 15+ years of neuroscience research experience spanning healthcare, financial services, and technology. Former leadership roles in private equity.

James Parker

Co-Founder

MBA from USC Marshall School of Business, BS in Astrophysics from Rice University. 25+ years in finance and investing. Former NASA robotics engineer with 10+ years in aerospace and defense programs requiring TS/SCI clearance.