Protego Ventures closes debut $125 million fund for Israeli defense tech
Protego Ventures closed a $125 million debut fund for Israeli defense-tech startups, including XTEND.
Protego Ventures, which presents itself as Israel's first dedicated defense-tech venture firm, closed its debut fund at $125 million, below a $150 million target. Led by Lital Leshem and Lee Moser, it can invest $5 million to $50 million in companies serving Israeli and global defense needs. Portfolio companies include NYSE-listed drone maker XTEND and situational-awareness startup ASIO, which has partnered with Anduril. Ares Management backed the firm with $30 million after the October 7, 2023 attacks, and Protego plans a broader second fund in the first quarter of 2027.
- Debut fund closed at $125 million, short of a $150 million target.
- Checks range from $5 million to $50 million per company.
- Drone maker XTEND, the first portfolio company, listed on the NYSE.
- Ares Management committed $30 million as a limited partner.
- A second fund is planned for the first quarter of 2027.
- Organizations
- Protego VenturesAres ManagementXTENDASIOAnduril
- Countries
- IsraelUnited States
From the original article
3 min read at techcrunch.com
Protego Ventures, the first and largest dedicated defense tech VC in Israel, just completed its final $125 million closing, TechCrunch learned exclusively.
By Anna Heim · techcrunch.com
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