The Department of War's Office of Strategic Capital (OSC) is pleased to announce the introduction of the National Security Fund Finance (NSFF) program, which aims to provide capital support to credit funds addressing shortages, gaps, and vulnerabilities in critical minerals vital to United States national security. OSC's mission is to advance these strategic interests by providing direct loans and deploying other financial tools, with the NSFF program acting as the fund-level financing solution to accomplish that goal.
The One Big Beautiful Bill Act, signed into law by President Donald J. Trump, provided funding for OSC to support critical minerals and materials. The NSFF program will provide loans to qualified investment fund managers, who will combine OSC loans with private capital to invest in portfolio companies focused on addressing U.S. national security shortages related to critical minerals and materials.
"The NSFF program clearly advances OSC's goal of crowding-in private capital to address shortages that are vital to U.S. national security. Paired with private capital, NSFF will drive significant investment to address gaps and vulnerabilities in our U.S. critical minerals industry. OSC is taking decisive action to restore our domestic critical minerals supply chain, revive our industrial base, and rebuild our military to achieve President Trump's goal of peace through strength," said David A. Lorch, Director of the Office of Strategic Capital and Senior Advisor to Deputy Secretary of War Steve Feinberg.
OSC is scheduled to issue a formal Notice of Funding Opportunity (NOFO) imminently. The application link will be posted on OSC's website, accompanied by an official press release on the Department's website. The NOFO application period will open upon its official publication.
"President Trump has led the way in leveraging the strength of the United States' world-leading capital markets," said Emil Michael, Under Secretary of War for Research and Engineering. "The Office of Strategic Capital's NSFF program represents another tool that will establish true U.S. independence in the critical minerals supply chain."