Shield Capital
Shield Capital is a venture capital firm investing in early-stage frontier technology companies across AI, autonomy, cybersecurity, and space, targeting dual-use solutions for both commercial and national security markets. Founded in 2021, it manages a $186 million inaugural fund from its Burlingame, California headquarters.
- Company typePrivate
- Founded2021
- HeadquartersSan Francisco, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Shield Capital does
Shield Capital is a venture capital firm founded in 2021 that invests in early-stage companies building frontier technologies at the intersection of commercial industry and national security. The firm concentrates its investment strategy across four domains: artificial intelligence, autonomy, cybersecurity, and space, targeting founders building dual-use technologies that can serve both commercial markets and government/defense customers. Its $186 million inaugural fund (Shield Capital Fund I, L.P.) closed oversubscribed in October 2023, 55% above its original $120 million target, with capital commitments from a broad base of institutional and private investors.
The firm's core offering is investment capital paired with strategic support to portfolio companies, including executive recruiting, government customer introductions, and strategy development. Its value proposition rests on a veteran team of founders, investors, and national security leaders, anchored by Managing Partners Raj Shah (former Director of the Defense Innovation Unit) and Philip Bilden (former co-founding member of HarbourVest Partners), and reinforced by a National Security Advisory Board comprising former senior military and intelligence officials. A strategic partnership with L3Harris Technologies (formed March 2022) provides portfolio companies with accelerated access to defense and commercial markets. As of 2026, Shield Capital has invested in more than 30 portfolio companies, including Albedo, Apex, Elroy Air, Overland AI, Star Catcher, TENEX.AI, and Resilience.
Shield Capital generates revenue through traditional venture capital fund management, earning management fees (typically 2% of committed capital) and, when portfolio companies exit successfully, carried interest. The firm operates as a Delaware/California LLC with headquarters in Burlingame, California (Silicon Valley), a small core team of investment professionals, and a broader network of venture partners and advisors supporting deal sourcing, due diligence, and portfolio company value creation.
Shield Capital firmographics
Firmographics- Name
- Shield Capital
- Legal name
- Shield Capital LLC
- Website
- https://shieldcap.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Shield Capital is a venture capital firm investing in early-stage frontier technology companies across AI, autonomy, cybersecurity, and space, targeting dual-use solutions for both commercial and national security markets. Founded in 2021, it manages a $186 million inaugural fund from its Burlingame, California headquarters.
- Ownership category
- akta.pro rank
Shield Capital industry classification
Industry- Product category
- Venture Capital Fund Management
- NAICS
- Other Financial Investment Activities (5239)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)
Keywords
Where Shield Capital is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Shield Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Fund Management: Shield Capital generates revenue through traditional venture capital fund management, including management fees and carried interest from their investment fund. Shield Capital Fund I closed at $186 million with capital commitments from institutional and private investors.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Shield Capital product offering
Product offeringCore offering
Shield Capital is a venture capital firm that manages and deploys early-stage investment capital through Shield Capital Fund I, L.P., a $186 million fund focused on frontier technology companies in artificial intelligence, autonomy, cybersecurity, and space. The firm invests in dual-use technologies serving both commercial and national security markets, providing portfolio companies with capital, executive recruiting, government customer access, and strategic guidance. Beyond capital deployment, Shield Capital supports portfolio companies through its National Security Advisory Board and a strategic partnership with L3Harris Technologies for accelerated market access.
Product overview
Shield Capital is a venture capital firm that does not offer a unified product platform but rather provides investment capital and strategic support to early-stage portfolio companies. The firm operates through Shield Capital Fund I, L.P., a $186 million inaugural fund focused on four high-growth technology domains: artificial intelligence, autonomy, cybersecurity, and space. The firm's investment strategy supports entrepreneurs building technologies at the convergence of commercial industry and national security. Shield Capital's portfolio companies offer diverse products and services including enterprise cybersecurity platforms, autonomous maritime vessels, satellite servicing, verifiable code translation, and defense technology systems, though these are independent portfolio companies rather than products offered directly by Shield Capital.
Differentiator
Problem solved
Functional benefit
Brands
- Mission Matters Podcast: A podcast exploring the intersection of technology, national security, and startups through in-depth conversations with early-stage founders and government technologists.
Products and services
- Shield Capital Fund I, L.P. Shield Capital's inaugural venture capital fund focused on early-stage companies building frontier technologies in artificial intelligence, autonomy, cybersecurity, and space that serve both commercial and national security customers. The $186 million closed fund invests at Seed, Series A, and Series B stages, deploying capital to dual-use technology companies and providing strategic support including executive recruiting, government customer access, and strategic guidance.
Quantifiable outcome
- Fund I closed 55% above target at $186 million
- +1 more outcomes
Companies that use Shield Capital
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Shield Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Shield Capital partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered key and core.
- General CQ Brown, Jr. (Ret.)keyFormer Chairman of the Joint Chiefs of Staff joined Shield Capital's National Security Advisory Board to provide strategic counsel to the firm and its portfolio companies, offering deep expertise in geopolitics, technology innovation, and military modernization.
- Dan "Razin" CainekeyRetired Lieutenant General Dan 'Razin' Caine joined Shield Capital as a Venture Partner. Caine brings experience from the CIA's Associate Director for Military Affairs, Joint Special Operations Command, and F-16 pilot, along with entrepreneurial experience from co-founding and exiting multiple aerospace, defense, and healthcare companies.
- L3Harris TechnologiescoreShield Capital formed a strategic partnership with L3Harris Technologies in March 2022 to accelerate innovative solutions across the defense and commercial ecosystem. The partnership provides Shield Capital portfolio companies with enhanced access to the defense market and enables L3Harris to identify and invest in promising startups through Shield Capital's deal flow.
- National Security Advisory Board MemberskeyNSAB includes: Lieutenant General H.R. McMaster (former National Security Advisor), Admiral James Stavridis (former NATO Supreme Allied Commander), General David Goldfein (former Chief of Staff of the Air Force), Letitia Long (former Director of NGA), Sean Stackley (former Acting Secretary of the Navy), Denis Bovin, and General CQ Brown, Jr.
Scale indicators4 records
Recent moves9 records
Expansion highlights5 records
Shield Capital competitors and assessment
Company assessmentBroad incumbents
- Khosla Ventures: Large frontier-tech VC investing aggressively in AI, autonomy, space, and cybersecurity. Overlaps Shield's frontier-tech thesis but operates at multi-billion-dollar fund scale with a broader portfolio.
- Andreessen Horowitz: Mega-fund with a dedicated American Dynamism practice explicitly investing in companies that support the national interest, including defense, manufacturing, and aerospace. Overlaps Shield's thesis but operates at materially larger fund scale and broader portfolio.
- General Catalyst: Large multi-stage VC with an explicit focus on government and national security through its Global Resilience and Government practices. Comparable thesis on defense-adjacent tech but with significantly larger fund sizes and broader portfolio.
Direct peers
- In-Q-Tel: The CIA's strategic venture capital arm, investing in early-stage companies with national security and intelligence applications. Directly comparable to Shield Capital in thesis (dual-use frontier tech, government as primary customer), structure (strategic VC), and network (intelligence community founders and advisors).
- Lux Capital: Science-and-engineering-driven venture firm investing in frontier tech including space, autonomy, AI, and cyber. Comparable in thematic focus and mid-size fund scale, with overlapping portfolio themes such as space situational awareness and AI-enabled defense.
- Founders Fund: Peter Thiel's venture firm with a long-standing defense tech and frontier-technology investment thesis (SpaceX, Palantir, Anduril-era conviction). Comparable in contrarian bets on national security innovation and willingness to lead in defense-adjacent rounds.
- 8VC: Austin-based venture firm building a portfolio around national security, logistics, and bio. Closely comparable in mid-size fund scale, defense tech focus, and operator-led investment approach with former government and military figures.
- NightDragon: VC firm exclusively focused on cybersecurity, safety, security, and privacy companies serving enterprise and government customers. Directly comparable in cyber/national security thematic focus and government customer orientation.
- Booz Allen Ventures: Corporate venture arm of Booz Allen Hamilton investing in dual-use technologies with government and defense applications. Comparable as a strategic defense-industry VC channeling portfolio companies into federal customer pipelines.
Emerging players
- Dcode: Early-stage investor and accelerator focused on commercial tech with government applications, including defense and federal IT. Comparable in government-tech bridging mission but operates more as an accelerator/information intermediary than a lead VC.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Shield Capital social profiles
Digital presenceShield Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Shield Capital leadership team
Management profileNumber of profiles
Profiles8 records
Shield Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Shield Capital M&A and investment
M&A and investmentM&A
Investments50 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Shield Capital
What does Shield Capital do?
Shield Capital is a venture capital firm that manages and deploys early-stage investment capital through Shield Capital Fund I, L.P., a $186 million fund focused on frontier technology companies in artificial intelligence, autonomy, cybersecurity, and space. The firm invests in dual-use technologies serving both commercial and national security markets, providing portfolio companies with capital, executive recruiting, government customer access, and strategic guidance. Beyond capital deployment, Shield Capital supports portfolio companies through its National Security Advisory Board and a strategic partnership with L3Harris Technologies for accelerated market access.
Is Shield Capital a public or private company?
Shield Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Shield Capital founded?
Shield Capital was founded in 2021. It employs 1 to 10 people.
Where is Shield Capital based?
Shield Capital is headquartered in San Francisco, United States, in the North America region.
How does Shield Capital make money?
One revenue line is on record: fund Management.
Who are Shield Capital's main competitors?
Broad incumbents on record are Khosla Ventures, Andreessen Horowitz and General Catalyst. Direct peers are In-Q-Tel, Lux Capital, Founders Fund, 8VC, NightDragon and Booz Allen Ventures. Dcode is listed as an emerging player.
Does Shield Capital have an API?
No public API is recorded for Shield Capital.
What industry is Shield Capital in?
Shield Capital's product category is Venture Capital Fund Management. Its primary akta.pro industry code is BPAHAOAE, Equity Capital Advisory (Private Equity Placements, Growth Capital). Its NAICS code is 5239 and its SIC code is 6211.