Money Moves is a recurring series where we chart the raises, grants, contracts, mergers and other funding news of tech companies across our regions. Have a tip? Email us at [email protected].

Arlington defense tech company AeroVironment is expanding its manufacturing capabilities with a new acquisition. 

The $200 million deal is probably the largest, but there are several other local money moves worth noting. Investment firm Sands Capital closed its third global fund for mid-to-late stage companies, space tech company Umbra is investing $6.75 million in Fairfax County, and there’s a $125 million land acquisition from Capital One, among others.

Keep scrolling to get the details on those and other financial goings on in the region. 

$200 million drone acquisition

ESAero in San Luis Obispo, CA specializes in engineering and manufacturing unmanned aircraft systems like drones and aircrafts for defense purposes.

That’ll add to AeroVironment’s autonomous tech offerings, per a press release, including loitering munitions (a hybrid drone and missile). The Arlington company will also have access to ESAero’s 2,000-sq.-ft. design and prototyping facility and a 53,000-sq.-ft. manufacturing facility in California. 

“By combining ESAero’s engineering and manufacturing capabilities with AV’s unmatched expertise in autonomous systems,” said ESAero president, CEO and cofounder Andrew Gibson, “we are positioned to advance disruptive aerospace technologies and deliver real, timely value for our customers.”  

The acquisition was structured as approximately $160 million in stock and the remainder in cash. ESAero will operate as a subsidiary of AeroVironment, and will be housed under the company’s defense system and precision strikes division. Both companies already have contracts with the Department of War. 

This follows AeroVironment’s acquisition of space tech and autonomous systems firm Blue Halo for $4.2 billion in May 2025, which boosted capabilities in electronic warfare and cyber. 

Sands Capital accrues $1.1B

The Arlington growth equity firm’s oversubscribed fund, dubbed the Global Innovation Fund III, will invest in a small number of growth-stage tech companies working in private markets. 

Contributing investors include Canada Pension Plan Investment Board, funds managed by Hamilton Lane and existing partners. Sands Capital launched its first global fund in 2018, and has invested in major companies like DoorDash, Anduril and OpenAI. 

“We believe the most compelling opportunities will emerge in a small number of exceptional companies, and our strategy is built around partnering closely with those teams over the long term,” said managing partner Michael Clarke in a press release. 

Space tech firm Umbra expands in Fairfax

Umbra is investing $6.75 million in Fairfax County to expand its presence, including establishing a 20,000-sq.-ft. office in Reston. The company, founded in 2015 in Santa Barbara, creates technology for customers to access high-resolution radar data from space. 

County officials plan for this buildout to create 100 tech jobs in the aerospace industry. Funding and services to support the hiring will be provided through the Virginia Jobs Investment Program, per a press release.  

Virginia Governor Abigail Spanberger also approved a $500,000 grant as part of this deal. 

“Umbra’s expansion in Fairfax County underscores Virginia’s growing role as a hub for the nation’s space and defense industries,” Spanberger said. “This investment reinforces Northern Virginia’s reputation as a cluster for advanced satellite systems, resilient space technologies, and the world‑class talent that drives them.”

Other DC raises and awards 

  • Pharmaceuticals giant Regeneron committed $150 million to continue its partnership with the DC nonprofit Society for Science. The funds go to a science and mathematics competition for high school seniors, which awarded nearly $2 million this year to continue their projects. 
  • Capital One is spending $125 million to acquire 14.7 acres of land and empty offices in Tysons near its existing headquarters, the Washington Business Journal reported. 
  • George Washington University sold its Virginia campus to AWS for $427 million, with plans to build a data center, per the GW Hatchet. 
  • Growth equity investment firm Updata Partners landed $875 million for its fund focused on B2B software companies. 
  • Privacy-oriented mobile carrier Cape, headquartered in Arlington, announced a $100M Series C. Earlier this year, the startup announced its product is available in the US. 

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