Printed from https://fiscalreceipts.com/program/0901579D8Z/ — data as of August 12, 2026. Every figure is citation-backed; see the page online for per-number provenance.
Office of Strategic Capital (OSC)
Budget Figures
FY2026 award data is a partial year — USASpending awards are reported on a rolling basis and the fiscal year does not close until September 30. why partial FY2026 data? →
| Fiscal year | Amount |
|---|---|
| FY24 | $33.5MR-1 TOA · PB2026 |
| FY25 | $46.9MR-1 TOA · PB2026 |
| FY26 | $0P-40 detail · PB2026 |
The vertical scale does not start at zero: the baseline sits just below this program’s smallest year, so a low point on this line is not a small amount. Read the shape for direction and the grid below for the figures.
● actuals (line) · ○ enacted · ◇ request — gaps are editions the program is absent from, never interpolated.
| Series | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Actuals | $0 | – | $33.5M | |
| Enacted | – | $0 | $99.0M | $46.9M |
| Request | – | – | $99.0M | $132.6M |
blank = series not published for this year; – = absent from that edition.
Asked vs spent: the PB2024 book requested $99.0M for FY2024; the PB2026 book reported $33.5M as actual total obligation authority — $65.5M below the request. 33.5 − 99.0 = -65.5 USD millions — the compact figures above are rounded for reading.
Program Lineage
No predecessor/successor lineage was recorded for this program element — no FY-to-FY transfer into or out of this line was stated in the ingested J-books, and none was inferred from the program structure.
Description
Mission — Office of Strategic Capital (OSC)
In support of the Department of Defense, Office of Strategic Capital’s (OSC) mission is to attract and scale private capital to technologies critical to the national and economic security of the United States. The National Defense Authorization Act for Fiscal Year 2024 (FY2024 NDAA) states OSC shall: • Develop, integrate, and implement capital investment strategies proven in the commercial sector to shape and scale investment in critical technologies and assets; • Identify and prioritize promising critical technologies and assets that require funding and have the potential to benefit DoD; and • Make eligible investments in such technologies and assets, such as supply chain technologies, not always supported through direct investment. To accomplish its mission, OSC uses loans, loan guarantees, and technical assistance – an efficient use of taxpayer dollars – to crowd in investment by aligning government and private sector incentives. The office’s tools take advantage of the power of markets and competition to support DoD needs. OSC’s investments are guided by its FY2025 Investment Strategy, which describes that competition between the United States and its adversaries occurs over the: (i) control of economic chokepoints; (ii) scaling of key industries, and (iii) commercialization of critical technologies. OSC investments will provide the Department of Defense advantages in all these competitive arenas, especially by securing critical supply chains and rebuilding the industrial base. These activities directly align with the administration’s priorities communicated through the Interim National Defense Strategic Guidance (INDSG), and other forthcoming authoritative documents such as the National Security Strategy of the United States (NSS), interim National Defense Strategy (NDS) and Defense Planning Guidance (DPG). Specifically, the program will: • Develop new financial products, such as direct equipment finance loans for manufacturers, project finance loans to support capital intensive projects, working capital loans for businesses in need of short-term financing, and loan guarantees through private banks. • Provide loans, loan guarantees and technical assistance to businesses, funds, and other entities within the 33 Covered Technology Categories prescribed by Congress in line with the objectives described by the FY25 Investment Strategy, INDSG, NSS, NDS, and DPG. • Identify and prioritize areas for investment through engagements with the Services, Combatant Commands, National Security Council, and other interagency partners. • Create new data tools to map economic networks to determine chokepoints that impact U.S. national and economic security. • Increase private capital investment to enhance the commercialization of DoD and United States Government (USG) science & technology investments.
Mission — Office of Strategic Capital
In support of the Department of Defense, Office of Strategic Capital’s (OSC) mission is to attract and scale private capital to technologies critical to the national and economic security of the United States. The National Defense Authorization Act for Fiscal Year 2024 (FY2024 NDAA) states OSC shall: • Develop, integrate, and implement capital investment strategies proven in the commercial sector to shape and scale investment in critical technologies and assets; • Identify and prioritize promising critical technologies and assets that require funding and have the potential to benefit DoD; and • Make eligible investments in such technologies and assets, such as supply chain technologies, not always supported through direct investment. To accomplish its mission, OSC uses loans, loan guarantees, and technical assistance – an efficient use of taxpayer dollars – to crowd in investment by aligning government and private sector incentives. The office’s tools take advantage of the power of markets and competition to support DoD needs. OSC’s investments are guided by its FY2025 Investment Strategy, which describes that competition between the United States and its adversaries occurs over the: (i) control of economic chokepoints; (ii) scaling of key industries, and (iii) commercialization of critical technologies. OSC investments will provide the Department of Defense advantages in all these competitive arenas, especially by securing critical supply chains and rebuilding the industrial base. These activities directly align with the administration’s priorities communicated through the Interim National Defense Strategic Guidance (INDSG), and other forthcoming authoritative documents such as the National Security Strategy of the United States (NSS), interim National Defense Strategy (NDS) and Defense Planning Guidance (DPG). Specifically, the program will: • Develop new financial products, such as direct equipment finance loans for manufacturers, project finance loans to support capital intensive projects, working capital loans for businesses in need of short-term financing, and loan guarantees through private banks. • Provide loans, loan guarantees and technical assistance to businesses, funds, and other entities within the 33 Covered Technology Categories prescribed by Congress in line with the objectives described by the FY25 Investment Strategy, INDSG, NSS, NDS, and DPG. • Identify and prioritize areas for investment through engagements with the Services, Combatant Commands, National Security Council, and other interagency partners. • Create new data tools to map economic networks to determine chokepoints that impact U.S. national and economic security. • Increase private capital investment to enhance the commercialization of DoD and United States Government (USG) science & technology investments.
Justification
Accomplishments & Planned Programs (7)
Critical Technologies Limited Partnership Program (CTLP Program)
This program provides loans, loan guarantees, and technical assistance to investment funds to increase their investable capital for investments in portfolio companies within the 33 Covered Technology Categories (as described in the FY2024 and FY2025 NDAAs) vital to national and economic security. The intent is to increase investment in unaddressed and underserved sectors critical to national security by attracting private capital and aligning incentives with the mission of the Office of Strategic Capital -- all at little or no cost to the taxpayer. • In FY2024, there were no funds for CTLP Program. • In FY2025, $20.000M was transferred from PE 0901579D8Z to DoD Credit Program Account (PE 0902199D8Z) for CTLP Program. • Beginning in FY 2026, funds for CTLP Program will be budgeted to DoD Credit Program Account (PE 0902199D8Z).
Credit Program
This program provides direct loans, loan guarantees, and technical assistance to businesses operating within the 33 Covered Technology Categories (CTCs) mandated by Congress in the FY2024 and FY2025 NDAAs. These companies require significant debt capital to expand manufacturing, secure critical supply chains, and produce components that are the foundation of key capabilities. Given the market risk of businesses within the 33 CTCs, private debt financing is often insufficient or otherwise inaccessible. As a result, private companies are unable to compete especially against businesses that receive direct support from adversary countries. OSC addresses this capital gap by providing attractively priced, long-term capital to these companies that support U.S. national and economic security. • In FY2024, $49.200M was transferred from PE 0901579D8Z to DoD Credit Program Account (PE 0902199D8Z) for Credit Program. • In FY2025, $69.049M was transferred from PE 0901579D8Z to DoD Credit Program Account (PE 0902199D8Z) for Credit Program. • Beginning in FY 2026, funds for Credit Program will be budgeted to DoD Credit Program Account (PE 0902199D8Z).
Transition Acceleration Program (TAP)
Leveraging existing development programs, projects, and warfighter priorities, this program aligns private investment and RDT&E funding to co-invest in critical technology companies that are developing compelling military capabilities with clear pathways to transition to existing or future programs of record. RDT&E funding is used to fund a Pathfinder program to validate advanced manufacturing methods and approaches to meet critical demand for solid rocket motors. This effort coordinates Service and OSD funding with private sector investment across multiple contract efforts to maximize available capital, operational impact, and broader USD(R&E), ASA(ALT), and ASN(RDA) equities.
Global Technology Scouting and Co-Investment Program (GTS)
The Global Technology Scouting and Co-Investment (GTS) program leads international activities to leverage OSC’s financial tools and co-investment opportunities with allies, into critical technologies, which support interoperability, integrated deterrence, and prevent adversarial capital investment.
Investment Strategy
The Investment Strategy program develops, drafts, and coordinates OSC’s Investment Strategy to ensure the office’s investments are aligned broadly with the Department’s priorities articulated by the INDSG, NSS, NDS, DPG and other strategic documents. As a part of this analysis, Strategy conducts a combination of quantitative and qualitative research to map economic networks, assess key industries, and determine which critical technologies are essential to economic and national security. This work continuously informs where the office deploys its resources.
Defense Ventures Fellowship Program
The Defense Ventures Fellowship Program places select DoD personnel in immersive fellowships within leading investment firms and defense technology companies. This initiative aims to enhance DoD expertise in cutting-edge technologies and innovative business practices, drive innovation within the DoD, strengthen public-private partnerships, and develop future leaders equipped to navigate the evolving defense landscape. By providing structured learning opportunities, mentorship, and real-world project experience, the program cultivates a more agile and innovative workforce, ultimately strengthening national security.
Initiative on Economic Competition
Deputy Secretary of Defense Initiative on Economic Competition
Budget Line Items(workbook-cited)
P-1/R-1 workbook Total Obligation Authority basis (USD thousands) · PB2026.
Exhibit R-1
| Account | Org | Type | Amount |
|---|---|---|---|
| Research, Development, Test and Evaluation, Defense-Wide | OSD | FY24 Actuals | $33.5M |
| Research, Development, Test and Evaluation, Defense-Wide | OSD | FY25 Enacted | $46.9M |
| Research, Development, Test and Evaluation, Defense-Wide | OSD | FY25 Total | $46.9M |
Budget Details(R-2/P-40 facts)
J-book detail basis (R-2/P-40, USD millions) · PB2026 — a different accounting basis from the P-1/R-1 workbook TOA above; where the two disagree, the reconciliation strip under Budget Figures shows both.
Wider than this screen — swipe the table sideways for the remaining fiscal-year columns.
| Project | All Prior Years | FY24 Actuals | FY25 Total | FY26 Base | FY26 Request |
|---|---|---|---|---|---|
| Program Element | $0 | $33.5M | $46.9M | $0 | $0 |
| 732: Office of Strategic Capital | $0 | $33.5M | $46.9M | $0 | $0 |
No follow-the-dollar view — this program's awards haven't been crosswalked at high confidence (flows cover 17 of 1,741 programs). why coverage is partial? →
Awards
No awards are linked to this program element at high confidence — the budget→award crosswalk only asserts links it can defend, and this line has none yet.
Lobbying Mentions
No Senate LDA lobbying filing in the tracked data mentions this program element by code or alias.
Oversight
Department-level designation (not specific to this program)
GAO lists 5 high-risk areas for DOD as a whole. That designation covers the department, not Office of Strategic Capital (OSC) — no program-specific GAO finding for this line is in the ingested data. See the DOD oversight record.
No research dossier for this program — dossiers cover 50 of 1,741 programs, the largest fully J-book-detailed lines by FY2026 requested dollars. why no dossier here? →