Kyle Bass-led Rochefort Asset Management leads Divergent's $290M Series E, backing digital manufacturing platform over single-part AM plays

Rochefort Asset Management led a $290 million Series E round in Divergent, with co-CEO Kyle Bass calling the California company "exactly what America needs" for a more adaptable industrial base. Divergent's Adaptive Production System (DAPS) combines software, 3D printing and automated assembly, and the company will produce Tomahawk missile midbody structures at a new Long Beach factory for RTX's Raytheon. Rochefort's portfolio also includes defense-adjacent bets Firehawk Aerospace, ALL.SPACE, Red 6 and UO Arms, positioning Divergent as its platform-manufacturing pick rather than a single-product company. Bass has publicly framed the investment around reshoring, citing the US manufacturing share falling from roughly a quarter of world output to about 6%.

The deal reads as a bet on production flexibility rather than any single AM process: Bass points to DAPS producing missile structures, C-130 parts and automotive brake assemblies off the same platform. That framing fits the broader 2026 pattern of defense-driven capital flowing into AM-enabled manufacturers with named prime-contractor work rather than speculative demos. The practical test is whether Long Beach Tomahawk production scales to program volume, since qualified, repeatable output for Raytheon would validate the platform thesis Bass is underwriting far more than the funding round itself.