Investing in UFORCE

By Raj Shah and Matt Kaplan

Europe has entered a new era of defense industrialization. After decades of de-industrialization, a growing acute threat on NATO’s eastern flank, and the recognition that Europe must reclaim its strategic autonomy, governments across the continent are committing historic resources to rebuild capacity and procure commercial technology.

Yet while funding is accelerating, Europe’s defense industrial base remains poorly positioned to deliver scalable capability at speed. On the one hand, incumbent primes build incumbent systems. Ministries of defense must complement these with the systems that are essential for future conflict: commercial capabilities in maritime security, air defense, and affordable autonomy. On the other hand, Europe’s defense industrial base remains poorly positioned to deliver capability at scale. Key to Europe’s success at countering Russia is both sides of this coin: conflict-proven commercial technology and the ability to manufacture it at scale.

Leading the world in generating both of these things today is Ukraine. The war has compressed decades of learning and manufacturing into a few years, particularly in autonomy, electronic warfare, and attritable systems. Companies whose technologies have been built at scale, deployed with effect, and iterated under live combat conditions possess insights that cannot be replicated through testing or simulation alone.  Europe now understands that rebuilding modern defense capability requires integrating technologies proven on the battlefield in Ukraine.

UFORCE builds some of the most consequential autonomous systems in the Russia-Ukraine War. Its platforms have executed tens of thousands of real missions in highly contested environments, informing not just autonomy software but manufacturing, deployment, and sustainment at scale.

The Ukrainian government has recognized that exporting defense technology is a clear path to supporting the allies that supported it and rebuilding a resilient economy for the day their conflict ends. Last week, President Zelensky announced Ukraine would open 10 defense export hubs throughout Europe. In turn, UFORCE is expanding to NATO allies and the U.S., where it will bring scalable, combat-proven systems to an industrial base in dire need. CEO Oleg Rogynskyy, former founder & CEO of People AI, joined the company to lead this international expansion and couple advanced AI software with UFORCE’s proven hardware.

Shield Capital is proud to co-lead the Seed round in UFORCE alongside Lakestar. Our investment reflects our conviction in supporting a generational rebuild of Europe’s industrial base, its need for proven technology, and the security of U.S. allies. Mission Matters.

Shield Capital Announces General CQ Brown, Jr. (Ret.), former Chairman of the Joint Chiefs of Staff, has joined its National Security Advisory Board

Shield Capital, a leading venture capital firm focused on technologies critical to the national security and the commercial sectors, is honored to welcome General CQ Brown, Jr., USAF (Ret.) to its National Security Advisory Board.

General Brown joins Shield Capital following a distinguished career spanning more than four decades in the United States Air Force, culminating in his service as the 21st Chairman of the Joint Chiefs of Staff, the nation’s highest-ranking military officer. Prior to that, he served as the 22nd Chief of Staff of the Air Force (CSAF).

Throughout his career, General Brown was a vocal advocate for change. Under his leadership as CSAF, he launched "Accelerate Change or Lose," a framework that included emphasizing the urgent need for the military to integrate emerging technologies, including AI and autonomous systems, at the speed of relevance.

"The ever-increasing pace of technology is changing the character of future warfare and deterrence, creating a defining challenge for modern security," said General CQ Brown. "I’m excited to contribute to Shield Capital’s efforts to support innovative founders building technology solutions important for commercial and national security organizations.” 

In his role at SHIELD, General Brown will provide strategic counsel to the firm and its portfolio companies, offering deep expertise in geopolitics, technology innovation, and military modernization.

"CQ is a visionary and inspiring leader with unique insights on technology’s impact around the world,” said Raj Shah, SHIELD Managing Partner. “His commitment to maintaining the security edge of the United States and its Allies make him an invaluable addition to our team.”

For media inquiries, please contact:

Contact: media@shieldcap.com

About Shield Capital

Shield Capital is a venture capital firm investing in early-stage companies building technology in artificial intelligence, autonomy, cybersecurity, and space. SHIELD’s experienced team of company founders, investors, and national security leaders is mission-focused to support the entrepreneurs addressing challenges and opportunities at the nexus of commercial industry and national security. At SHIELD, the Mission Matters. Learn more at www.shieldcap.com.

Shield Capital welcomes Dan “Razin” Caine as Venture Partner

Shield Capital is proud to announce that recently retired Lieutenant General Dan “Razin” Caine has joined the firm as a Venture Partner.

Burlingame, CA – Shield Capital is proud to announce that recently retired Lieutenant General Dan “Razin” Caine has joined the firm as a Venture Partner. A distinguished leader with decades of experience in military operations, the intelligence community, and entrepreneurship, General Caine brings a unique combination of strategic vision, operational expertise, and technical business acumen to SHIELD.

In addition to his military career, General Caine has extensive entrepreneurial experience, having co-founded and successfully exited multiple aerospace, defense, and healthcare companies. Notably, he served as President of Mayday Holdings and Co-Founder and COO of RISE Air, where he scaled operations and led significant business growth.

“Dan’s extraordinary leadership experience and entrepreneurial success align with SHIELD’s mission,” said Raj Shah, Shield Capital Managing Partner. “His deep national security and market expertise will bring tremendous value to our portfolio companies and investment strategy.”

General Caine’s exceptional career includes serving as the Central Intelligence Agency’s Associate Director for Military Affairs (ADMA), the CIA Director’s principal advisor on military matters and the primary Liaison between the Agency and the Department of Defense. He served as Assistant Commanding General at the Joint Special Operations Command and mission commander during critical national and global operations as a F-16 pilot, White House Fellow, and principal author of major national security strategies.

“I am incredibly honored to join Shield Capital as a Venture Partner and work with a world class team continuing to keep our Nation safe,” said General Caine. “I am passionate about supporting companies that can make a meaningful impact on both our economy and national security.

For media inquiries, please contact:

Contact: media@shieldcap.com

About Shield Capital

Shield Capital is a venture capital firm investing in early-stage companies building technology in artificial intelligence, autonomy, cybersecurity, and space. SHIELD’s experienced team of company founders, investors, and national security leaders is mission-focused to support the entrepreneurs addressing challenges and opportunities at the nexus of commercial industry and national security. At SHIELD, the Mission Matters. Learn more at www.shieldcap.com.

First Silicon Valley National Security Hackathon Provides New Solutions to Critical Government Challenges Attracting More Than 500 Participants

More than 500 people gathered in Silicon Valley for the first Silicon Valley National Security Hackathon to develop solutions for national security on the eve of the annual RSA Conference in San Francisco.

May 6, 2024–(San Francisco, CA) –More than 500 people gathered in Silicon Valley for the first Silicon Valley National Security Hackathon to develop solutions for national security on the eve of the annual RSA Conference in San Francisco. The event attracted engineers, government leaders, students, company founders, and investors for a weekend focused on developing solutions for specific technical challenges in national security. Shield Capital along with Founders Fund, In-Q-Tel, Anduril, Vannevar Labs, sponsored the 48-hour solution sprint, which began on May 4th.

Problem sets were curated by government stakeholders that included representatives from the U.S. Air Force, U.S. Navy, U.S. Special Operations Command (SOCOM), U.S. Special Operations Command Pacific (SOCPAC),  the DoD’s Chief Digital and Artificial Intelligence Office (CDAO), the Defense Digital Service (DDS), the Defense Innovation Unit (DIU), and Ukrainian warfighters.

Problem statements included digital drone resilience and operation, next generation intelligence analysis, computational logistics and reporting, and AI-enhanced telemetry and sensing. 

Over 50 teams pitched solutions to problem statement stakeholders and investors leading to 8 finalists. Teams built laser-powered counter UAS systems, automated intelligence report generation tools, and levitating space crystals to name a few. The 1st, 2nd and 3rd place teams won cash prizes and Starlink terminal access. 

Judges and mentors included participants from the CIA, DIU, Stanford,  technology startups and venture capital firms. Guest speakers highlighted four ways how people can be involved: start a company that will work on national security technology challenges, work for a company that will work on national security challenges, serve in uniform or work for the government. 

The winning solutions and team include: 

  • 1st Place: AI Laser Sentinel (Margarita Geleta, Michael LaFramboise, John Marmaduke, Justin Zelaya) built an AI-powered laser system that can shoot enemy drones out of the sky. You can follow their journey building this system here.

  • 2nd Place: Overwatch (Brian Wu, Justin Lin, Ian Kim, Pavan Agareal) deployed computer vision models on drones for object localization without GPS.

  • 3rd Place: Panopsis (Artur Kiulian, Artem Kalyta, Martin Bach, Philippe Brule) built a system to automatically generate spot reports that send timely intelligence or status regarding events reports based on satellite data, social media data, and audio data. and audio data

 “We see no shortage of new talent or technology that could potentially solve the tough challenges that our nation faces,” said Raj Shah, managing partner of Shield Capital, and one of the sponsors of the event. “Hackathons provide an opportunity to lower the barriers to entry, foster creativity, and provide the government  with new potential solutions sets.”

Hosts of the event included Stanford's Defense Tech Club, Stanford Gordian Knot Center, and Cerebral Valley. The Hackathon took place at San Francisco’s Shack15 preceded by a kick-off social of the weekend’s activities at Stanford University.

About Shield Capital

Shield Capital is a venture capital firm investing in early-stage companies building technologies that matter in artificial intelligence, autonomy, cybersecurity, and space. SHIELD’s veteran team of founders, investors, and national security leaders is mission-focused in support of entrepreneurs addressing the convergence of commercial industry and national security. Mission Matters at SHIELD.  Learn more at www.shieldcap.com.

Contact: media@shieldcap.com

Denis Bovin Joins Shield Capital’s National Security Advisory Board

Shield Capital announced today that Denis A. Bovin has joined SHIELD’s National Security Advisory Board (NSAB) as a Senior Advisor.

March 13, 2024–(San Francisco, CA) – Shield Capital announced today that Denis A. Bovin has joined SHIELD’s National Security Advisory Board (NSAB) as a Senior Advisor. With five decades of experience in finance, aerospace and defense, and national security policy, Mr. Bovin brings invaluable perspective and expertise to the SHIELD team.

Mr. Bovin has initiated and implemented some of the most complex, consequential, and strategic financial transactions in the commercial and government technology sector. He has deep experience advising senior management teams and boards of directors in private industry and in government agencies. Mr. Bovin was appointed to the President’s Foreign Intelligence Advisory Board and served on the Defense Science Board as well as Senior Advisory Groups for both the United States Southern Command (USSOUTHCOM) and the U.S. European Command (USEUCOM). As Chairman of the MIT Investment Management Company, he oversaw the investment governance of approximately $28 billion in assets under management.

“We are honored to welcome Denis Bovin to our National Security Advisory Board,” said Philip Bilden, Managing Partner at Shield Capital. “Denis has been an informal advisor and friend to Raj Shah and myself over the course of 20 years—and a collaborator in the BENS (Business Executives for National Security) leadership. We are pleased to bring his unparalleled expertise to Shield Capital.”

Mr. Bovin’s breadth of leadership experience in the public and private sector complements the current distinguished National Security Advisory Board at SHIELD. Mr. Bovin joins Senior Advisors Lieutenant General H.R. McMaster, USA (ret.), former National Security Advisor and Senior Fellow of the Hoover Institute at Stanford University; Admiral James G. Stavridis, USN (ret.), former NATO Supreme Allied Commander, Europe and Dean of the Fletcher School at Tufts University; General David Goldfein, USAF (ret), former Chief of Staff of the U.S. Air Force; Director Letitia Long, Chairwoman of the Intelligence and National Security Alliance (INSA) and former Director of the National Geospatial Intelligence Agency; and the Honorable Sean Stackley, Senior Vice President, Strategy, Growth & Technology, L3Harris Technologies and former Acting Secretary of the Navy.

“Economic security and national security are inextricably linked,” said Bovin. “I look forward to working with this distinguished group of advisors in support of the investment thesis at Shield Capital at the convergence of commercial technology and national security.” 

About Shield Capital

Shield Capital is a venture capital firm investing in early-stage companies building technologies that matter in artificial intelligence, autonomy, cybersecurity, and space. SHIELD’s veteran team of founders, investors, and national security leaders is mission-focused in support of entrepreneurs addressing the convergence of commercial industry and national security. Mission Matters at SHIELD.  Learn more at www.shieldcap.com.

Contact: media@shieldcap.com