Covenant’s $250M Is Lifetime Capital at Stealth Exit — Not a September Round
Covenant unveiled Anthem, a heavy-payload cruise missile, on September 9, 2026. Founder Michael Kaufman (a16z) said the 2024 company has raised $250 million. Reuters said just over $250 million from a16z, Founders Fund, Lux, 8VC, Aleph, and Lightspeed. Valuation was not disclosed. About $150 million of orders is Reuters, not the founder post.