Protego Ventures closes debut $125 million fund for Israeli defense tech
Protego Ventures, the first and largest dedicated defense tech VC in Israel, just completed its final $125 million closing, TechCrunch learned exclusively.
Protego Ventures, an Israeli defense technology venture capital firm, has successfully closed its first $125 million fund, marking a new era of defense tech VC dealmaking. Founded by Lital Leshem and Lee Moser, the firm is the first and largest dedicated defense tech VC in Israel. Protego's mission is to invest in startups addressing critical defense and security needs, with a focus on companies like drone maker XTEND, which recently went public on the NYSE.
The smaller fund size allows for a greater impact from any single big win, as XTEND could potentially be a "fund maker" that returns the entire investment. Ares Management, a prominent investment firm, contributed $30 million as a limited partner, enabling Protego to commence investments immediately. As the Israeli market becomes more receptive to defense tech, Protego's two founders are leveraging their extensive networks and expertise, with Leshem bringing military and intelligence experience, and Moser contributing venture capital knowledge.
With a second fund in the works for Q1 2027, Protego aims to continue shaping the future of defense technology.
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