--- title: Protego Ventures closes debut $125 million fund for... description: Protego Ventures, a two-year-old Israeli VC firm focused solely on defense tech, has closed its debut fund at $125 million, below its $150 million target.... canonical: https://daily.dev/posts/protego-ventures-closes-debut-125-million-fund-for-israeli-defense-tech-jycqrl3iz twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Protego Ventures closes debut $125 million fund for Israeli defense tech | daily.dev og:description: Protego Ventures, a two-year-old Israeli VC firm focused solely on defense tech, has closed its debut fund at $125 million, below its $150 million target.... og:url: https://daily.dev/posts/protego-ventures-closes-debut-125-million-fund-for-israeli-defense-tech-jycqrl3iz og:image: https://api.daily.dev/og/posts/jYcQRL3iZ.png og:image:alt: Protego Ventures closes debut $125 million fund for Israeli defense tech og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Protego Ventures closes debut $125 million fund for Israeli defense tech **[TechCrunch](https://daily.dev/sources/tc)** · 3 min read · 0 upvotes · 0 comments ## Summary Protego Ventures, a two-year-old Israeli VC firm focused solely on defense tech, has closed its debut fund at $125 million, below its $150 million target. Founded by Lital Leshem and Lee Moser after the October 7, 2023 Hamas attack with backing from Ares Management, the firm invests $5-50 million per company. Its portfolio includes drone maker XTEND, which recently went public on the NYSE, and situational-awareness startup ASIO, which partners with Anduril. The founders deliberately kept the fund smaller so a big win like XTEND wouldn't be diluted across too many investors. Protego is already planning a second, larger-scope fund for Q1 2027 targeting early-growth American defense-tech companies as well. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### How much did Protego Ventures raise for its debut defense tech fund in Israel? Protego Ventures closed its debut fund at $125 million in capital commitments, below its original $150 million target. The Israeli venture firm invests between $5 million and $50 million per company in startups addressing defense and security needs. Ares Management contributed $30 million as a limited partner, helping the firm start investing quickly after being founded following the October 7, 2023 Hamas attack. _Track how emerging VC funds are reshaping defense tech investment on daily.dev._ ### What companies has Protego Ventures invested in? Protego Ventures' portfolio includes drone maker XTEND, its first investment, which went public on the NYSE, and ASIO, a startup developing situational awareness systems that has partnered with Anduril. The firm deliberately kept its fund size smaller than planned so a major win like XTEND would not be diluted across too many investors. _Follow defense tech funding and portfolio moves as they unfold on daily.dev._ ## Similar posts on daily.dev - [Stark Defence raises €500M led by Sequoia and Founders Fund at a valuation above €3.5 billion](https://daily.dev/posts/stark-defence-raises-500m-led-by-sequoia-and-founders-fund-at-a-valuation-above-3-5-billion-31g2x56fk) · The Next Web · 0 upvotes · 0 comments - [Lux Capital lands $1.5 billion for its largest fund ever](https://daily.dev/posts/lux-capital-lands-1-5-billion-for-its-largest-fund-ever-vhljeoc8t) · TechCrunch · 0 upvotes · 0 comments - [Tekever hits a $6.4bn valuation and plans acquisitions with its new round](https://daily.dev/posts/tekever-hits-a-6-4bn-valuation-and-plans-acquisitions-with-its-new-round-vkdcihwav) · The Next Web · 0 upvotes · 0 comments - [Makers Fund raises $250m in fourth round to support interactive entertainment startups](https://daily.dev/posts/makers-fund-raises-250m-in-fourth-round-to-support-interactive-entertainment-startups-n7w2lwzyl) · GamesIndustry.biz · 0 upvotes · 0 comments - [Funding of Israeli Cybersecurity Soars to Record Levels](https://daily.dev/posts/funding-of-israeli-cybersecurity-soars-to-record-levels-avvuxsset) · Security Boulevard · 0 upvotes · 0 comments --- Tags: [#startup](https://daily.dev/tags/startup), [#venture-capital](https://daily.dev/tags/venture-capital), [#defense-tech](https://daily.dev/tags/defense-tech) [View this post on daily.dev](https://daily.dev/posts/protego-ventures-closes-debut-125-million-fund-for-israeli-defense-tech-jycqrl3iz) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Protego Ventures closes debut $125 million fund for Israeli defense tech","url":"https://daily.dev/posts/protego-ventures-closes-debut-125-million-fund-for-israeli-defense-tech-jycqrl3iz","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/protego-ventures-closes-debut-125-million-fund-for-israeli-defense-tech-jycqrl3iz"},"datePublished":"2026-09-29T10:01:07.830Z","dateModified":"2026-09-29T10:21:36.003Z","description":"Protego Ventures, a two-year-old Israeli VC firm focused solely on defense tech, has closed its debut fund at $125 million, below its $150 million target....","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/89a8221e7652aa126fdca9f4067ea89a?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/89a8221e7652aa126fdca9f4067ea89a?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"TechCrunch","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"TechCrunch","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tc","url":"https://daily.dev/sources/tc"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/protego-ventures-closes-debut-125-million-fund-for-israeli-defense-tech-jycqrl3iz","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"startup,venture-capital,defense-tech","timeRequired":"PT3M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"TechCrunch","item":"https://daily.dev/sources/tc"},{"@type":"ListItem","position":3,"name":"Protego Ventures closes debut $125 million fund for Israeli defense tech"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/protego-ventures-closes-debut-125-million-fund-for-israeli-defense-tech-jycqrl3iz#faq","mainEntity":[{"@type":"Question","name":"How much did Protego Ventures raise for its debut defense tech fund in Israel?","acceptedAnswer":{"@type":"Answer","text":"Protego Ventures closed its debut fund at $125 million in capital commitments, below its original $150 million target. The Israeli venture firm invests between $5 million and $50 million per company in startups addressing defense and security needs. Ares Management contributed $30 million as a limited partner, helping the firm start investing quickly after being founded following the October 7, 2023 Hamas attack. Track how emerging VC funds are reshaping defense tech investment on daily.dev."}},{"@type":"Question","name":"What companies has Protego Ventures invested in?","acceptedAnswer":{"@type":"Answer","text":"Protego Ventures' portfolio includes drone maker XTEND, its first investment, which went public on the NYSE, and ASIO, a startup developing situational awareness systems that has partnered with Anduril. The firm deliberately kept its fund size smaller than planned so a major win like XTEND would not be diluted across too many investors. Follow defense tech funding and portfolio moves as they unfold on daily.dev."}}]} ```