Shield Capital
Venture capitalActively deployingBurlingame · Seed–Series A · 37 people tracked
Also known as SHIELD CAPITAL, LLC
Investment thesis
Shield Capital invests in early-stage companies building technologies at the convergence of commercial innovation and national security. Its focus areas include artificial intelligence, autonomy, cybersecurity, and space. The firm is led by a team of veteran founders, investors, and national security leaders who support entrepreneurs addressing mission-critical challenges. Its stated philosophy, 'Mission Matters,' reflects a commitment to backing innovators who help secure the future for the United States and its allies.
Source: firm website, verified Aug 3, 2026.
Team · 37 people
from the firm's website & public directories
What they invest in
from 28 of 53 portfolio companiesAI & Machine Learning ×18Defense Tech ×10Deep Tech ×9Data & Infrastructure ×8Enterprise Software ×8Hardware ×8Cybersecurity ×6Advanced Manufacturing ×4
HQs:United States×20Ukraine×1
Investments · 53 tracked
founders shown can be your intro pathSaratoga, US
Steve Louden(Executive Officer)Daniel Leff(Director)Alan Henricks(Director)Ravi Ahuja(Director)Shawn Carolan(Director)Matthew Anderson(Executive Officer)
Board seatRay Rothrock· per SEC Form D · $45.5M raise · filed Jan 2016
Herndon, US
Simon Mark Davidson(Director)John Sheldon Serafini(Executive Officer, Director)Arthur Lewis Money(Director)David Farnsworth(Director)Jaye Alison Alfers(Executive Officer)Mark Spoto(Director)
Elroy Air develops autonomous hybrid-electric aircraft for heavy-payload cargo delivery, serving commercial logistics, defense, and humanitarian customers.
Deep TechHardwareLogistics & Supply ChainRoboticsCalifornia, US
Dave Merrill(Executive Officer, Director)Clint Cope(Director)Andrew Clare(CEO)Darren Liccardo(Director)
Board seatRaj ShahRaj Shah· per SEC Form D
TENEX provides AI-driven cybersecurity detection, automation, and managed services for organizations, combining machine learning with human expertise.
AI & Machine LearningCybersecurityEnterprise Software
Eric Foster(Co-founder)Edwin Solis(Co-founder)inRyan Shreve(Co-founder)inJan Grzymala-Busse(Founder)Venkata Koppaka(CTO)
BoardElias Manousos(Chairman of the Board)
Albedo develops a flight-proven platform for Very Low Earth Orbit operations, providing satellite-based insights and connectivity services for national security and critical infrastructure systems.
Advanced ManufacturingClimate TechDeep TechDefense TechSpace TechDenver, US
Topher Haddad(Founder)inAyJay Lasater(Founder)inWinston Tri(Executive Officer, Promoter)Dylan Betts(Executive Officer)
BoardChristian Garcia(Director)
Board seatRaj Shah· per SEC Form D
Waltham, US
James Harrison(Executive Officer)Paul Ciriello(Director)Alexander Doll(Director)William J. Fallon(Director)Alen Capalik(Director)Tiffanny Gates(Director)
Board seatPhilip Bilden· per SEC Form D · $8.1M raise · filed Dec 2022
Petah Tikva
Ray Allen Rothrock(Director)Guy Peer(Executive Officer)Alon Carmely(Executive Officer)Amy Marion(Executive Officer)Yehuda Lindell(Executive Officer, Director)Moranne Levi(Executive Officer)
Board seatRay Rothrock· per SEC Form D · $12M raise · filed Mar 2017
Janesville, US
Christopher Lee(Executive Officer)Ray A. Rothrock(Director)Thomas R. Mackie(Director)Ross Radel(Executive Officer)Alma G. Sorensen(Director)Frederick A. Robertson(Director)
Board seatRay Rothrock· per SEC Form D · $125M raise · filed Apr 2025
San Diego, US
Declan Kerwin(Executive Officer)Max Kramers(Executive Officer)Thomas Reynolds(Executive Officer)Dylan Rodriguez(Director)Patrick O'Reilly(Director)Michael Flanigan(Executive Officer, Director, Promoter)
Board seatPhilip Bilden· per SEC Form D · $20M raise · filed Mar 2026
Menlo Park, US
Board seatRay Rothrock· per SEC Form D · $26M raise · filed Nov 2018
Starfish Space develops autonomous satellite servicing technology and infrastructure to enable affordable and available satellite maintenance in orbit.
Deep TechHardwareSpace TechTukwila, US
Trevor Bennett(Co-founder)Austin Link(Co-founder)
BoardMorgan Beller(Director)Peter Ortez(Director)Letitia Long(Director)
Board seatRaj Shah· per SEC Form D
Airspace Intelligence develops predictive software for mission-critical operations in defense and infrastructure sectors, serving large airlines and US government agencies.
AI & Machine LearningDeep TechDefense TechLogistics & Supply ChainBoston, US
Phillip Buckendorf(Founder & CEO)
Apex manufactures productized satellite bus platforms at scale for constellation deployment and critical missions.
Advanced ManufacturingDefense TechHardwareSpace TechLos Angeles, US
Armada develops edge computing and AI solutions for industrial applications.
AI & Machine LearningCloud ComputingData & InfrastructureDeep Tech
AI-native platform for cybersecurity operations
Code Metal builds "Provable AI" software that helps engineering teams translate, verify, and optimize code across programming languages, architectures, and hardware targets while preserving behavior.
AI & Machine LearningDeep TechDeveloper ToolsBoston, US
Richard Alexander Showalter-Bucher(Director, Promoter)Peter Morales(Co-Founder & CEO)Steve Loughlin(Director)Ryan Aytay(President & COO)Alex Showalter-Bucher(Co-Founder & SVP of Technology)Laura Shen(EVP & Head of Growth)
A no-code platform automating visual inspection tasks in industrial verticals using deep learning.
Dedrone provides an AI/ML-powered airspace security platform that detects, tracks, identifies, and mitigates unauthorized drone threats while enabling authorized drone operations.
AI & Machine LearningDefense TechIoT
Ingo Seebach(Executive Officer)Joerg Lamprecht(Executive Officer, Director)William Hite(Executive Officer)
Distributed Spectrum builds software for radio spectrum management that combines machine learning, signal processing, and embedded systems.
AI & Machine LearningDeep TechHardwareNew York, US
Alex Wulff(Founder & CEO)Ben Harpe(Founder & COO)Isaac Struhl(Founder & CTO)
Cloud-delivered managed detection and response
Knit.ai is a vendor performance management platform that uses machine learning and natural language processing to analyze vendor support tickets and detect SLA violations, unresolved cases, and delays.
AI & Machine LearningEnterprise SoftwareSaaS
Mimic provides enterprise ransomware and cyber extortion defense software for large organizations.
AI & Machine LearningCybersecurityEnterprise Software
mPower Technology develops advanced power systems and solar technologies for spacecraft and space applications.
Advanced ManufacturingEnergyHardwareSpace TechAlbuquerque, US
Dr. Murat Okandan(CTO & Founder)Mark Spoto(Director)Kevin Hell(Executive Officer, Director)inDavid Blivin(Director)Donald Telage(Director)Kaveh Rouhani(Executive Officer)in
Omni Instrument builds edge AI industrial devices that use computer vision and SLAM to add spatial intelligence and traceability on factory floors.
Advanced ManufacturingAI & Machine LearningHardware
Overwatch Imaging develops autonomous intelligence software and sensors for ISR (Intelligence, Surveillance, Reconnaissance) operations.
AI & Machine LearningDefense TechHardware
Resilience Insurance provides cyber insurance and technology errors & omissions coverage for enterprise clients across multiple industries.
CybersecurityInsurTech
Reveal Technology develops defense software solutions for warfighters, first responders, and military personnel.
AI & Machine LearningDeep TechDefense TechEnterprise SoftwareBozeman, US
Peter Pace(Director)Kevin Mandia(Director)William Garrett Smith(Executive Officer, Director)Les Craig(Director)Robert Parker Clark(Executive Officer)Andrew Dixon(Executive Officer, Director)in
Snorkel AI provides a platform and research for building training data and evaluation environments for frontier AI and agentic AI systems.
AI & Machine LearningData & InfrastructureDeep TechStanford, US
Raised $65 million Series A co-led by Shield Capital
Jacksonville, US
Michael Snyder(Executive Officer, Director)Andrew Rush(Executive Officer, Director)Bryan Lyandvert(Executive Officer, Director)David Rothzeid(Director)Jeff Johnson(Director)Nathan O'Konek(Executive Officer)
Technology supporting European industrial security
UFORCE manufactures unmanned military systems including naval, ground, and aerial drones for defense applications.
Defense TechHardwareRobotics
Oleksiy Honcharuk(Co-founder)in
Unstructured transforms complex, unstructured data (64+ file types) into clean, structured data suitable for AI and analysis, handling ETL, security, compliance, and integrations across enterprise systems.
AI & Machine LearningData & InfrastructureEnterprise Software
Brian Raymond(Founder & CEO)
Vorlon provides data security enforcement for traffic generated by AI agents across SaaS apps, cloud data stores, and internal systems.
AI & Machine LearningCybersecurityData & Infrastructure
XEOL provides dataset and tools to identify abandoned and end-of-life open source packages that standard vulnerability scanners miss, helping companies manage risks in their software dependencies.
AI & Machine LearningCybersecurityData & InfrastructureDeveloper ToolsEnterprise SoftwareNew York City, US
ShiHan Wan(Founder)inBenjamin Visser(Executive Officer, Director)
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Frequently asked questions
- What stage does Shield Capital invest at?
- Shield Capital invests at the Seed, Series A stages.
- What sectors does Shield Capital focus on?
- Shield Capital focuses on AI & Machine Learning, Cybersecurity, Defense Tech, Robotics, Space Tech.
- Where is Shield Capital located?
- Shield Capital is headquartered in Burlingame, US.
- Does Shield Capital lead rounds?
- Yes, Shield Capital leads investment rounds.
Media · Podcasts & interviews
featuring the teamWhy did the Pentagon Turn to Silicon Valley? Michael Brown, Shield Capital and ex Director, DIU
The Great Tech Game with Anirudh Suri · Michael Brown
How Should US and its Allies come together on innovation? | Michael Brown, Partner at Shield Capital
The Great Tech Game with Anirudh Suri · Michael Brown
Can the U.S. Keep Its Lead Over China? | ft. Michael Brown, Partner at Shield Capital
The Great Tech Game with Anirudh Suri · Michael Brown
Is Silicon Valley Changing the Defense Tech Industry? Michael Brown, Shield Capital | Ep 38 Trailer
Anirudh Suri · Michael Brown
Shield Capital's Raj Shah talks the relationship between the Pentagon and Silicon Valley
CNBC Television · Raj Shah
Defense and Capital: A Conversation with Raj Shah of Shield Capital
War on the Rocks Editor · Raj Shah
Co-investors · 34
Andreessen Horowitz's Strategic Partnerships page describes collaborations that connect its portfolio companies with established institutions to help scale and deploy their technology.
Menlo Ventures is a venture capital firm that backs transformative, early-stage technology companies reshaping how people live and work.
Razor's Edge Ventures invests in rapidly-growing technology companies, with a team made up of entrepreneurs, operators and investors.
Calibrate Ventures is a venture capital firm that partners with technical founders to turn deep tech breakthroughs into scalable commercial businesses, focusing on AI, computer vision, autonomy, and robotics.
Cubit Capital is an investment firm that partners with founders building solutions to foundational problems, emphasizing steady guidance, proximity, and transparent partnership.
IceNine is an early-stage venture capital firm focused on supporting founders in the new industrial renaissance and critical technology sectors, providing operational expertise and hands-on partnership across hardware, deep tech, and industrial innovation.
Lightspeed Venture Partners is a global venture capital firm known for backing AI and technology founders, emphasizing deep, hands-on partnerships with the companies it funds.
Accel is a venture capital firm that partners with exceptional founding teams, positioning itself as a first partner to startups globally.
Bain Capital Ventures is the venture arm of Bain Capital, backing founders from incubation and seed through growth-stage, leveraging Bain Capital's global platform, industry expertise, and network.
Hardware Club is a selective community for hardtech companies worldwide that facilitates knowledge-sharing and networking among members to accelerate growth and reduce costly mistakes.
Initialized Capital is a venture capital firm that backs seed-stage founders across a wide range of sectors, providing hands-on guidance from company formation onward.
Breakthrough Energy is a global platform founded to accelerate clean energy innovation and build climate-focused industries, supporting innovators developing affordable, reliable, clean energy technologies.
▶22 more co-investors
Cisco InvestmentsJetstreamGreatPoint VenturesKonvoy VenturesGeneral CatalystB Capital GroupAME Cloud VenturesLookout VenturesUlu VenturesSierra VenturesCyberstartsCausalComcast VenturesVera EquityBaukunstDTCPCrowdStrikeAxilor VenturesMagnify VenturesLytical VenturesFar Out VenturesArctic Wolf
Firms observed investing alongside Shield Capital, from public investor directories. Shared companies are the overlap with Shield Capital's recorded portfolio.
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