The Department of Defense and Small Business Administration announced the first group of SBIC licensees and green-light-approved funds under the Critical Technology Initiative, collectively planning to invest over $2.8 billion into more than 1,000 portfolio companies. Each fund can access up to $175 million in SBA-guaranteed loans, including a new Accrual Debenture aligned to longer-duration, equity-oriented strategies. Four funds were licensed and nine green-light approved as of that date, with the broader pipeline projected to deploy over $4 billion across nearly 1,700 companies.