Black Hawk Capital Ventures Ends Lobbying Contract With Jacobs Group After Reporting $0 Across Every Filing

A recent LDA termination filing reveals that Black Hawk Capital Ventures LLC, a Houston-based venture capital firm, has ended its lobbying relationship with Jacobs Group Inc. The termination filing, submitted in February 2026 under the Lobbying Disclosure Act, lists a termination date of December 4, 2024 — more than a year before the paperwork was filed.

What stands out: across the entire duration of this lobbying relationship, every single quarterly disclosure reported $0 in compensation. No specific legislation was ever targeted. And no individual lobbyists were ever formally listed on the filings.

Why the LDA Termination Matters

A Relationship That Never Seemed to Get Off the Ground

Jacobs Group Inc. registered to represent Black Hawk Capital Ventures LLC in May 2024, covering broad policy areas: community interest, economic development, housing policy, immigration, public safety, and social services. The issue code listed was Housing (HOU). Lobbyist William Jacobs was identified in the initial registration as the person conducting the work.

But in the seven months between registration and termination, the Black Hawk Capital Ventures lobbying engagement produced no reported income for the firm. The Q2 2024, Q3 2024, and Q4 2024 reports all show $0. Subsequent filings in Q1, Q2, and Q3 2025 — filed after the relationship had already ended — also reported $0 and listed no lobbyists and no specific issues.

Under lobbying disclosure rules, firms are required to report compensation received from clients. The consistent $0 reporting could mean the work fell below the quarterly reporting threshold, was performed pro bono, or that the engagement never produced meaningful lobbying activity.

What This Means for Jacobs Group

Data on Jacobs Group Inc.'s broader client roster was not available in sufficient detail to assess what share of the firm's revenue this client represented. Given the $0 reported across all filings, the lobbying disclosure termination does not appear to represent a financial hit to the firm. But the pattern — a client that registered, reported nothing for multiple quarters, and then terminated — raises questions about whether the engagement ever moved beyond the initial setup.

No Replacement Firm Identified

Based on available lobbying disclosures, Black Hawk Capital Ventures LLC has not hired another firm to continue advocacy on the same issues. All four filings found for the client in 2025 are associated exclusively with Jacobs Group lobbying activity, and all are either quarterly reports or the termination itself.

Broader Context

No Legislation Was Ever Targeted

None of the filings in this lobbying relationship referenced a single bill, resolution, or legislative proposal. The disclosures described broad policy categories — housing, immigration, public safety, economic development — but never named specific legislation. That means there are no bills to track as having passed or failed in connection with this work.

This is notable. For a client whose portfolio companies include a prefabricated housing manufacturer (SwiftBuilt Homes by Housing Made Simple), a domestic PPE manufacturer (Eagle American Glove Co.), and a precious metals firm, there was no shortage of relevant legislative activity in Congress during this period. Housing affordability, Buy American procurement rules, disaster relief funding, and supply chain security were all active policy areas throughout 2024 and into 2025.

The Political Landscape Shifted

The lobbying relationship began in May 2024, during the Biden administration, and terminated in December 2024 — weeks after the November election that would bring a new administration into office in January 2025. The policy areas Black Hawk Capital Ventures was interested in — immigration, housing, public safety — are areas where federal priorities shifted under new leadership.

Congressional Mentions Are Unrelated

While 48 member communications and 28 congressional hearings from the past year reference "Black Hawk," these mentions overwhelmingly refer to Black Hawk helicopters (particularly in the context of the January 2025 midair collision near Reagan National Airport and immigration enforcement operations in Chicago), Black Hawk County in Iowa, Black Hawk College in Illinois, and the town of Black Hawk, Colorado. None appear to reference Black Hawk Capital Ventures LLC directly.

For example, a November 2025 press release from Rep. Jim Himes (D-CT) and the Connecticut delegation urged the Defense Department to invest in the UH-60M Black Hawk helicopter platform. Sen. Maria Cantwell (D-WA) advanced bipartisan aviation safety legislation in October 2025 requiring ADS-B technology following the Army Black Hawk helicopter collision. These are unrelated to the venture capital firm.

Bottom Line

This lobbying relationship termination is unusual in its emptiness. A small, two-year-old venture capital firm with a national-security-oriented investment thesis hired a lobbying firm, reported $0 in compensation across every quarter, never named a lobbyist on the quarterly filings after registration, never targeted specific legislation, and terminated the arrangement seven months in.

Black Hawk Capital Ventures LLC has not, based on available disclosures, hired a replacement firm. The client — which manages portfolio companies in disaster housing, domestic PPE manufacturing, energy, and precious metals — operates in policy spaces where there is no shortage of congressional activity. But the Jacobs Group lobbying engagement does not appear to have engaged with any of it in a way that shows up in the disclosure record.

The 14-month gap between the December 2024 termination date and the February 2026 filing of the termination paperwork is itself worth noting. Late filings are not uncommon under the Lobbying Disclosure Act, but the delay here — combined with the $0 reporting pattern — suggests this was an engagement that ended quietly and was closed out administratively well after the fact.