# Protego Ventures closes $125 million Israeli defense tech fund

_Published Tuesday, September 29, 2026 at 7:07 AM EDT · Capital, Products · Latest · Tier 2 — Notable_

![Protego Ventures closes $125 million Israeli defense tech fund — Primary](https://techcrunch.com/wp-content/uploads/2026/09/PROTEGO-VENTURES.jpg?resize=1200,801)

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.

## Sources

- [TechCrunch](https://techcrunch.com/2026/09/29/protego-ventures-closes-debut-125-million-fund-for-israeli-defense-tech/)

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Canonical: https://techandbusiness.org/newswire/CxlF5gUQaid1eZTkbQtCZz
Published: 2026-09-29T11:07:35.520Z
Story chronology: 2026-09-29T10:00:00.000Z
Retrieved: 2026-09-29T12:55:22.032Z
Publisher: Tech & Business (techandbusiness.org)