Online. Simple process. Starting from $1,000.
Investors in an SPV will be indirect holders of securities in the portfolio company. Investors will not invest directly into the company. Instead, the deal lead will pool the capital into a “special purpose vehicle” (SPV), which will then invest into a company.
Each deal is separate and has its own SPV. Investors get access to deal materials, perform KYC, sign documents, and wire funds to the SPV.
We invest in startups founded by Ukrainians, whose holding companies are most often incorporated in NATO-aligned jurisdictions. As an investor, you participate through a US-registered SPV, which ensures agreements under US law, a closed and transparent ownership structure, and alignment with international venture capital standards – making future transactions like follow-on investments or exits smoother and more secure.
You will get:
These documents are standard for syndicated venture investing.
The minimum ticket size is $1,000
Investments are made via bank wire transfer.
We will charge a standard 20% carried interest (carry) fee – you will retain 80% of all profit earned on the principal investment amount. Deal administration fees vary per deal but are fully transparent: you will see a detailed calculation in the “Deal Calculation” section before proceeding with KYC and wiring funds. This way, you can always review and understand all costs in advance of making your investment decision.
Returns in early-stage defense startups can vary widely. Some companies may not succeed at all, while others have the potential to multiply your investment many times – successful cases in venture capital often bring 5x–20x returns. This is considered a high-risk, high-reward type of investing: the outcome is uncertain, but the upside can be significant.
Generally yes – investors receive regular updates on each deal, including progress, milestones, risks, and (where relevant) SPV financials. However, the amount of information shared may be limited due to defense security measures. To keep you informed, portfolio updates will also be published on the deal’s page, so you can track them as they become available.
Your investment is legally protected through the SPV structure, but returns are not guaranteed – this is the nature of venture capital and especially early-stage defense startups. It is a high-risk asset class, and we, as deal leads, take on the same risk alongside you. The best way to manage this risk is diversification: building a portfolio of 5-10 companies gives you a much stronger chance of achieving returns than relying on a single deal. Beyond potential profit, investing in Ukrainian defense tech also carries meaningful impact – even if a company does not succeed financially, your capital has directly supported innovation that strengthens Ukraine’s security.
You should plan for a 3-7 year horizon. Some exits may happen earlier (e.g., M&A, licensing), but most require long-term patience.
Generally no. Venture capital investments are illiquid. Secondary sales may be arranged in rare cases but are not guaranteed.
Each investor is responsible for declaring profits in their own country. The SPV will provide relevant documentation (e.g., capital gains confirmation) by request.
Startups are:
Each startup is assessed based on team, product, traction, and impact.
Yes. You’ll see detailed materials for each deal and choose individually which one to join. This is not a fund – it’s deal-by-deal.
You become a shareholder in the startup via the SPV. You don’t receive shares directly – the SPV holds them on your behalf.
Each startup undergoes:
Yes, although access to information for each deal may be different due to sensitivity. You will generally get as much information from the company as possible and our evaluation memo. It will usually include:
Absolutely. Many investors also:
Let us know your background and we’ll match you with the right company where possible.
You invest in individual startups. Each deal is separate, so you can diversify by joining multiple.
Yes. Both individuals and legal entities can participate in syndicate deals.
Yes – we share all legally shareable information. Some data may be redacted due to defense sensitivity, but you’ll always get enough to make an informed decision.
Each SPV is operated by a licensed fund administrator or legal entity assigned to the deal. The Defence Builder core team leads selection, compliance, and investor communication.
If you still have open questions, please don’t hesitate to reach out – our team will be happy to help: join@defender.fund