Pre-IPO access to Allen Control Systems (ACS), maker of Bullfrog, the AI counter-drone system.
Investing in pre-IPO shares involves significant risk and is not suitable for all investors. These securities are illiquid and may be subject to transfer restrictions and long holding periods. There is no guarantee the company will go public, be acquired, or otherwise provide liquidity. Investments may be held through special purpose vehicles (SPVs) or other structures that could affect voting rights, liquidity, and cap table representation. Valuations are often based on limited or non-public information and may not reflect the actual market value. Past performance is not indicative of future results, and investors should be prepared to lose their entire investment. Carefully review all offering documents and risk disclosures before making an investment decision.
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About IPO CLUB
IPO CLUB is a venture capital investment platform providing access to pre-IPO and private market opportunities, specializing in late-stage companies within defense, AI, and energy resilience. The company was founded by Edoardo Zarghetta, who brings over two decades of investment banking experience, having held senior roles at Danske Bank, Mitsubishi UFJ International, and Credit Suisse. IPO CLUB's flagship fund vehicle, America 2030, is a $50M actively managed secondary growth fund targeting late-stage U.S. companies in defense, energy, security, and AI. IPO CLUB plans to participate in the ACS opportunity through the America 2030 Fund.
About the investment opportunity
Since February 2026, Iran has conducted a sustained drone and missile campaign against U.S. and allied targets across 12 countries, marking one of the largest such campaigns since the Gulf War.1 The campaign has exposed a structural gap in Western air defense: the cost of intercepting low-cost attack drones far exceeds the cost of producing them. A Shahed-136 drone costs approximately $35,000 to produce; interceptor systems used against it range from approximately $50,000 (Iron Dome Tamir) to $4 million (Patriot PAC-3) per engagement.2
Allen Control Systems (ACS) is an Austin, Texas-based defense robotics company. Its flagship product, Bullfrog, is an autonomous, AI-powered counter-drone weapon station that uses computer vision and AI-guided fire control to detect, track, and defeat hostile drones at approximately $10 per engagement, using standard 7.62mm NATO ammunition.3 The system mounts on tanks, MRAPs, logistics trucks, USVs, and fixed towers without requiring new vehicle platforms. Bullfrog is in active production and is being delivered into war zones under contracts with the U.S. Army and U.S. Navy. ACS has secured $84 million in closed and contracted orders, representing 133 turrets deployed across six countries.4
ACS has completed two funding rounds totaling $42 million, led by Craft Ventures.5 Please refer to the offering documents for information on the full terms and structure.
Company-stated information has not been independently verified.
1 UAE Ministry of Defense; Pentagon briefings; Al Jazeera; AP. (Feb. 28 – Mar. 18, 2026.)
2 DoD budget data; CSIS; manufacturer disclosures.
3 The Defense Post, Dec. 2025.
4 Allen Control Systems, Apr. 2026 (company-stated).
5 Allen Control Systems, Apr. 2026 (company-stated).