Protego Ventures Closes $125M Debut Fund to Back Defense AI
Protego Ventures closed a $125M debut fund to back early-growth defense tech, AI, and autonomous systems startups in Israel.
The big picture: Protego Ventures has closed its debut fund at $125 million, providing the Israeli venture firm with fresh capital to back startups building AI, drones, sensors, autonomous systems, and other defense technologies. The firm positions itself as Israel’s first and largest dedicated defense venture fund, capitalizing on record investments flowing into military technology.
What it will back:
- Focus: The fund will target early-growth companies with working technology and existing customers.
- Sector: Investments will concentrate on AI, drones, sensors, autonomous systems, and broader defense technologies.
- Geography: The firm’s initial strategy focuses on companies operating within Israel’s defense and technology ecosystem.
Who is behind it:
Protego Ventures was co-founded by Lital Leshem and Lee Moser. Both bring backgrounds in Israeli military intelligence and U.S.-Israel defense relations. The firm leverages a network that includes the U.S. Department of Defense, NATO allies, Elbit Systems, Israel Aerospace Industries, Lockheed Martin, and U.S. Army Futures Command. While no specific limited partners were named for this debut fund, the firm has indicated that Fund II will expand its investment strategy into the United States.
The catch: Protego enters an increasingly competitive landscape for defense startups. Its strategy hinges on the belief that Israel offers a unique advantage: startups whose products are developed and iterated under real operational demands, allowing for faster deployment than traditional defense procurement cycles. This local expertise and early access to battle-tested companies are intended to differentiate it from generalist investors and other defense-focused funds.
Key Facts
- Firm: Protego Ventures
- Fund: debut fund
- Size: $125M
- Status: Final close
- Stage: early-growth
- Focus: AI, drones, sensors, autonomous systems, defense technologies
- Geography: Israel
- Partners: Lital Leshem, Lee Moser
- Announced: 2026-09-29