Thesis
What gets built decides the next decade.
Reindustrializing America is one of our primary objectives. This is the argument, and the companies behind it.
01 The argument
Capacity is a strategy.
For a generation, the efficient answer was to design here and build elsewhere. The cost of that answer now shows up in supply chains, in the power grid and in the defense industrial base.
The new builders are not rebuilding the old factories. They write software first and use it to run the plant, the reactor, the aircraft and the data center. That produces companies with the learning curve of software and the staying power of heavy industry.
We think this is among the most important investment themes of the next decade. We invest in it deliberately: in companies that add real capacity, sell to customers who need it, and are led by people who have shipped hard things before.
Three theses organize everything we do: power, defend, secure.
02 Power
Power.
AI infrastructure
Intelligence is now an industrial product.
AI needs land, electricity, chips and steel before it needs anything else. We back the companies that supply them, on the ground and in orbit, on the timeline the buildout demands.
- SpaceX
Reusable rockets that changed what it costs to reach orbit, and a planned constellation of solar-powered compute satellites.
- Radiant
Kaleidos, a one-megawatt nuclear microreactor that ships by truck. The first unit left the factory for testing at Idaho National Laboratory in August 2026.
- Exowatt
Modular solar-thermal systems that store energy as heat and dispatch it on demand for data centers.
- Redwood Materials
Recovers battery metals in Nevada and builds grid-scale energy storage for data centers.
- CoreWeave
Cloud infrastructure built for AI workloads.
- Groq
Chips and cloud built for fast inference.
- Positron AI
Inference-only chips and servers, designed and manufactured in the United States.
- xAI
Frontier models, and the compute to train them.
- Databricks
The data platform enterprises build their AI on.
- Vercel
The cloud developers use to build and ship AI applications.
- Zipline
Designs, builds and operates autonomous delivery drones. Logistics infrastructure that flies itself.
03 Defend
Defend.
Defense technology
Deterrence at production scale.
Deterrence depends on systems that can be bought in quantity at a cost that makes sense. We back companies that fund their own research, arrive with a finished product, and build it in American factories.
- Anduril
Autonomous systems and weapons, connected by its Lattice software. Fury aircraft production began at Arsenal-1 in Ohio in March 2026, ahead of its July target.
- Shield AI
Hivemind, an AI pilot, and the V-BAT unmanned aircraft.
- Epirus
Leonidas, a high-power microwave system. In a 2025 live-fire demonstration it disabled a 49-drone swarm with a single pulse.
- Allen Control Systems
Bullfrog, an autonomous gun turret that finds, tracks and shoots down drones with standard-issue weapons. Built in Austin, Texas.
- CHAOS Industries
Radar for long-range tracking and interceptors for drone defense.
- Palantir Technologies
Software that puts data and AI to work inside governments and industry.
04 Secure
Secure.
Cybersecurity
Every agent needs an identity.
This is where we come from. We spent our careers in enterprise security. The next problem is already here: software agents acting on their own inside every company. Someone has to know who they are, what they touch, and what they are allowed to do.
- Cyera
Finds, classifies and protects sensitive data across cloud, SaaS and AI systems. Acquired Oasis Security in 2026.
- Oasis Security
Finds and governs non-human identities, including AI agents: who owns each one and what it can reach. Now part of Cyera.
- Abnormal AI
Behavioral AI that stops attacks on email and identity.
- Proofpoint
Security built around people and the data they handle.
05 How we invest
Operators first. Investors second.
Inflection was founded by people who spent their careers building, selling and running technology companies. We invest the way we would want to be backed.
We focus on later-stage private companies: real customers, real revenue or real contracts, and a reason to exist that gets stronger with scale.
- i.
Access is a relationship.
Important later-stage rounds are rarely marketed. Ours come through founders and investors we have worked alongside for years.
- ii.
Conviction is written down.
Every investment starts as a memo. The conclusion comes first, the downside second, and the math has to hold.
- iii.
A famous name is not a thesis.
We will pay for quality when long-term value supports it. We will not rationalize a price because a company is scarce.
06 Investors
For our limited partners.
We work on behalf of our limited partners, and we report to them directly.
Institutions, family offices and individual investors who would like to learn more can reach us at info@inflectionvc.com.