LLR, the Philadelphia-based investment fund that Ira Lubert and his partners invest for clients including Pennsylvania's state retirement funds, says it has bought a position in Annapolis-based iJET, a "provider of threat intelligence and response services to help international companies protect their employees, facilities and other assets." LLR makes investments of $15 million to $100 million in firms with sales of at least $15 million.

iJET claims 600 corporate and government clients. Guiding LLR's increasing focus on military contractors and civilian applications is LLR operating partner Gus Hunt, a former CIA chief technology officer (Corrected, a previous version incorectly reported Hunt's role). LLR partner David Stienes led the iJET investment for LLR's fast-growing Security, Defense & Government group.