When rockets fell and chaos erupted on October 7, Lital Leshem didn’t just report for reserve duty. She came back with a mission.
Leshem, a former operational officer in the Gaza Division with over a decade in Israel’s defense ecosystem, co-founded Protego Ventures with Lee Moser just months after the attack. The goal? Build Israel’s first defense tech VC and ensure the Jewish state is never caught unprepared again.
Why Defense Tech, Why Now?
For decades, Israel led in defense innovation, but not in defense tech venture capital. That changed after October 7, when Israel’s strategic dependence on allies and aging procurement pipelines became impossible to ignore.
“Wars create opportunities,” says Leshem. “And this one exposed just how much faster we need to move.”
From AI-guided drones to smart ammunition and satellite communications, the battlefield has changed. So has the timeline: procurement that once took 18 months now happens in three weeks.
And Protego is seizing the moment.
A New Reality
Is investing in defense tech just a wartime trend? Leshem shuts that down fast.
“This isn’t a hype cycle. It’s a paradigm shift,” she says. “We’re not fueling war. We’re investing in peace, because defense tech is what prevents the next one.”
The firm’s first investment proves the point: Xtend, makers of AI-powered drones used by more than 20 IDF units. Their tech was behind the footage that scanned Yahya Sinwar’s home after it was targeted. It’s already used across Israel and now backed by the U.S. Department of Defense.
Built for This Moment
What sets Protego apart from every other Israeli VC dabbling in defense deals? The team.
Leshem brings firsthand combat and operational experience. Her co-founder, Lee Moser, built and ran traditional VC funds. Their new CTO is a former IDF tech commander who led digital transformation and cyber planning for the military.
In short, they’re not a VC trying to get into defense. They are defense.
Backed by the Big Guns
After touring the U.S. to speak with Jewish communities during the war, Protego secured backing from institutional giants like Ares Management and multiple family offices.
To date, they’ve raised over $70 million, with a minimum check size of $1 million.
“Our LPs wanted to do more than donate. They wanted to future-proof Israel,” Leshem explains.
What They’re Looking For
Protego invests in early growth: companies with working products, real-world validation, and a path to the U.S. market.
They’re looking at:
- Tactical robotics and unmanned systems
- Communications and satellite infrastructure
- Smart defense sensors and AI-powered decision systems
- Quantum, spectrum, and battlefield data platforms
And they’re not going at it alone. Protego partners with everyone from Rafael and Elbit to Raytheon and Lockheed Martin.
What’s Next?
For Israel to stay sovereign, Leshem says, we need defense autonomy. Everything from munitions to manufacturing. But she’s clear-eyed about the limits.
“We can’t do it all. But we can do more. Protego’s job is to help Israel get there.”
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