For all the modern innovation in venture capital, history often repeats itself. The First and Second World Wars led to unprecedented public investment in industrial capability and advanced manufacturing, which later found widespread commercial application. Similarly, the Cold War drove sustained investment in semiconductors, satellite communications, and GPS. There is a clear pattern that is once again becoming evident: technology developed for national security can often instigate broader economic growth. Defence technology has rapidly emerged as one of venture capital’s fastest-growing investment priorities. According to PitchBook, global aerospace and defence start-ups attracted more than US$19 billion of venture capital in…
