Protego Ventures closes $125 million Israeli defense tech fund

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Published Tuesday, September 29, 2026 · 7:07 AM EDT

Protego Ventures has closed its first fund with $125 million in capital commitments, TechCrunch reported. The Israeli firm plans to invest $5 million to $50 million per company in defense and security technology. Ares Management committed $30 million as a limited partner, and the fund has already backed drone maker XTEND and situational awareness developer ASIO. Protego stopped short of its $150 million target. Co-founder Lital Leshem said a smaller fund would concentrate the potential return from XTEND, which went public earlier this month. The close gives Protego capital for further investments, while its founders are planning a second fund for 2027.

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