Tess Oxenstierna

Board Member

Linkedin Profile:

Oxenstierna is a Managing Director and Head of Capstone’s Aerospace, Defense, Government, and Security (ADGS) Group with over 25 years of experience across the ADGS industry, government policy arena, and financial services sector. She holds deep domain knowledge and has closed transactions in high-growth markets of Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR), and Air/Land/Sea/Space (ALSS) Systems.

Prior to joining Capstone, Oxenstierna founded the Aerospace and Defense practice at a middle market boutique investment bank, focusing on private and public corporate clients with diverse products such as command and control software for aerial drones, satellite-based force tracking systems, and electronic warfare devices used in Afghanistan and Iraq.

She has also served as Global Head of Equities Strategy at Lehman Brothers—responsible for strategy development leveraging competitive intelligence, market analysis, and acquisitions across Americas, Europe, and Asia—and Director of Corporate Development and Strategy at Raytheon. Before joining private industry, she served in the Reagan White House, U.S. Department of State, and NATO Headquarters.

Oxenstierna has spoken at the Satellite Show, MILSAT Symposium, Thompson Reuters’ A&D Summit, Int’l AUVSI Conferences, New York Capital Roundtable, and appeared on ABC’s Government Matters. She serves on the Board of the National Medal of Honor Center for Leadership, the U.S. Navy League – Connecticut Council, and holds the rank of Commander, U.S. Navy Reserve (ret.)


  • Kings College London – PhD – War Studies
  • Fletcher School of Law & Diplomacy, Tuft Univ and Kennedy School of Government, Harvard Univ – MA – Law & Diplomacy
  • University of California, Los Angeles – BA – International Relations
  • Harvard Business School – Corporate Finance

Registrations and Affiliations

  • Board Member, National Medal of Honor Center for Leadership
  • Board Member, U.S. Navy League, Connecticut Council
  • Member, National Defense Industry Association, National Security Space Association, U.S. Geospatial Intelligence Foundation, Women in Defense

Awards & Accolades

  • 2021: Top Women Dealmaker & Leader Award Winner, Global M&A Network
  • 2021: Most Influential Women in Mid-Market M&A Honorable Mention
  • 2020: USA Top Woman Dealmaker
  • 2019: Industrials Deal of the Year (Mid-Market)
  • 2018: Corporate/Strategic Deal of the Year