Five integrated capabilities. One mandate.
From early-stage R&D through full commercialization, we work with institutional and strategic partners to develop and fund transformative manufacturing ventures — structuring direct investments, joint ventures, and consortia to bring the right capital and resources together.
Finding the opportunities that others haven’t seen yet
The most consequential advanced manufacturing ventures are rarely obvious. They emerge from the intersection of technology readiness, supply chain gaps, policy tailwinds, and capital availability — and they require deep sector intelligence to identify before they become competitive.
THEOREM maintains active domain intelligence across advanced manufacturing sectors, tracking technology development, government program priorities, corporate divestitures, and stranded assets to surface opportunities that match the investment and policy environment of the moment.
“We don’t respond to mandates. We develop them — building investment theses around manufacturing opportunities that align private returns with national industrial priorities.”
- Off-market venture identification across advanced manufacturing sectors
- Technology readiness and commercialization pathway assessment
- Supply chain gap analysis and domestic production opportunity mapping
- Competitive landscape and whitespace analysis
- Corporate divestiture and stranded asset identification
- Investment thesis development for institutional and strategic investors
- Platform strategy for multi-site and multi-technology manufacturing ventures
- Government funding eligibility assessment integrated into venture thesis
- Risk-adjusted return modeling for public-private structures
- Anchor customer and offtake agreement strategy
- Patent cluster and technology signal monitoring
- Trade data, workforce signal, and regulatory filing analysis
- Sector benchmarking across target and adjacent markets
- Allied-nation manufacturing capacity and partnership mapping
Funding the science that becomes the factory
The journey from laboratory to production line is where most advanced manufacturing ventures stall. Bridging that gap requires a precise understanding of the public funding landscape — federal grant programs, agency partnerships, and public-private R&D consortia — and the relationships to access it.
THEOREM originates and structures early-stage funding for advanced manufacturing ventures, combining government R&D programs with private capital to fund the bench-scale, pilot-scale, and demonstration-phase work that de-risks technology and unlocks larger capital commitments.
“R&D funding is not a grant application exercise. It is a strategic capital formation tool — and when structured correctly, it transforms the economics of the entire venture.”
- SBIR and STTR program identification, application strategy, and proposal development
- ARPA-E, ARPA-H, and DOE program alignment and application support
- DoD OTA, CRDO BAA, and STRATFI/TACFI proposal strategy
- CHIPS Act R&D program and Microelectronics Commons engagement
- NSF and NIST advanced manufacturing program origination
- National laboratory and university partnership structuring
- R&D joint venture formation and IP ownership structuring
- Industry consortium formation for shared R&D infrastructure
- Private co-investment alongside government R&D programs
- Milestone-gated capital structuring for technology de-risking programs
- Phase I to Phase III transition strategy and funding sequencing
- IP protection and commercialization pathway planning
- Technology transfer from national lab and university to commercial entity
Financing the full journey from pilot to production
Scaling advanced manufacturing from pilot to full commercial production requires a different kind of capital than early-stage R&D — larger, longer-horizon, and more complex in structure. THEOREM architects the capital stacks that make this possible, combining institutional equity, government incentive programs, structured debt, and strategic co-investment into coherent, executable financing plans.
We work simultaneously on the private capital side and the public funding side — because the projects that matter most are the ones that require both.
“The capital stack for a world-class manufacturing facility is not assembled in a single conversation. It is built over years, one relationship and one program at a time. We start building before most firms know there is an opportunity.”
- CHIPS Act incentive programs: Section 48D ITC, NAPMP grants, CHIPS R&D
- Department of Energy loan guarantee and grant program origination
- DoD manufacturing investment and defense industrial base programs
- IRA advanced manufacturing production credits and clean energy incentives
- State and local incentive program identification and negotiation
- Private equity and institutional co-investor sourcing and mandate alignment
- Corporate strategic investor and anchor customer structuring
- Family office and sovereign wealth fund introductions
- Asset-based and structured debt facility origination
- Purchase order finance for confirmed production orders
- Project finance structuring for large-scale manufacturing facilities
- Phase-gated capital sequencing from pilot to full commercial scale
- Public and private capital integration and sequencing strategy
- Investment tax credit and incentive monetization structures
Building the vehicles that bring ventures to life
Advanced manufacturing ventures rarely succeed as standalone efforts. The most durable and fundable structures combine the technology assets of one partner, the manufacturing expertise of another, the anchor demand of a major customer, and the support of government — assembled into a purpose-built legal and governance structure.
THEOREM designs and forms the joint ventures, NewCo entities, and public-private consortia that align these interests and create the conditions for long-term success. We have particular depth in structures that involve government participation, foreign ownership considerations, and multi-stakeholder governance.
“The right structure is not the simplest one — it is the one that survives the complexity of multiple partners, government stakeholders, and a fifteen-year manufacturing horizon.”
- Joint venture design, negotiation, and formation
- NewCo entity formation for spinouts, carve-outs, and greenfield ventures
- Public-private consortium structuring and governance design
- Industry consortium formation for shared R&D and manufacturing infrastructure
- Management team assembly and executive recruiting for new entities
- CFIUS-compliant ownership structuring for cross-border ventures
- FEOC analysis and remediation for battery, solar, and semiconductor projects
- Export control strategy under EAR and ITAR
- IP licensing, transfer, and joint ownership structuring
- Governance frameworks for multi-stakeholder manufacturing ventures
- Board composition and independent director recruitment
- Technology control plan and security agreement development
- Long-term offtake, supply, and partnership agreement structuring
Advocating for the projects that define industrial policy
The largest advanced manufacturing ventures today are not purely private sector decisions. They are shaped by federal and state policy, enabled by government funding programs, and often require direct engagement with elected officials, agency leadership, and regulatory bodies to move from concept to approval.
THEOREM works alongside our venture partners to advocate directly — with Members of Congress, agency heads, state governors, and economic development authorities — for the program approvals, funding commitments, and policy frameworks that make transformative manufacturing projects viable.
“When the project is important enough — and the right projects always are — you cannot wait for policy to find you. You have to go make the case.”
- Federal legislative and agency engagement strategy
- Congressional briefing preparation and stakeholder mapping
- Agency relationship development across DOE, DoD, Commerce, and CHIPS Program Office
- CHIPS Act Notice of Funding Opportunity (NOFO) strategy and engagement
- Regulatory pathway navigation for new manufacturing technologies
- Governor’s office and state legislature advocacy for manufacturing incentives
- State and regional economic development authority engagement
- Site selection support and state incentive negotiation
- Regional workforce development and training program engagement
- Public-private partnership framework negotiation with government counterparts
- Coalition building with trade associations, universities, and national laboratories
- International government and agency engagement for allied-nation partnerships
- Industry consortium advocacy for sector-level policy and funding priorities
Rebuilding domestic industrial capacity — one venture at a time
For two decades, domestic advanced manufacturing capacity migrated offshore in pursuit of lower costs. The consequences are now visible in every supply chain disruption, every semiconductor shortage, every dependency on foreign production for the technologies that underpin national security and economic competitiveness.
The reversal is underway — driven by an unprecedented alignment of private capital, corporate strategy, and government policy. The CHIPS and Science Act. The Inflation Reduction Act. The Defense Production Act. Billions in DOE loan guarantees. A bipartisan consensus that domestic advanced manufacturing is a national priority.
THEOREM was built to operate at the center of this transformation. Our goal is not to advise on it — it is to help build it, project by project, venture by venture, factory by factory.
The advanced manufacturing sectors defining the next industrial era
THEOREM maintains deep domain intelligence and active relationships across every sector where advanced manufacturing, domestic supply chain resilience, and the public-private funding landscape converge.
From thesis to production line
THEOREM’s model is built around proprietary origination — identifying and developing manufacturing opportunities before they reach the market, then assembling the capital, partnerships, and government support needed to bring them to life. We are selective, long-horizon, and deeply embedded in the sectors we cover.
We track technology development, government program priorities, corporate strategy signals, and supply chain gaps to identify advanced manufacturing opportunities — developing the investment thesis, structure, and government funding strategy in parallel.
We engage directly with government — federal agencies, Congressional offices, state economic development authorities — to build the policy and funding support that transforms a viable venture into a fundable one. The advocacy starts early, before formal applications.
We design the legal and financial architecture: joint venture, NewCo, consortium, or project entity. We align the capital stack — private equity, government grants, tax credits, structured debt, strategic co-investment — and assemble the management team.
We stay with the venture through R&D, pilot production, scale-up, and full commercial operation — providing ongoing strategic, financial, and government relations support as the project evolves. We are builders, not transaction advisors.