National Security Strategic Investment Fund

What National Security Strategic Investment Fund does

NSSIF is the UK Government's dedicated deep tech venture capital fund for National Security and Defence, established under the National Security and Investment Act 2021 and headquartered in London. It invests directly in pioneering start-ups developing dual-use technologies and also anchors external venture funds, while acting as a connector between portfolio companies and UK government customers for real-world trials and adoption. Its portfolio spans quantum networking, photonic computing, laser communications, autonomous unmanned systems, neuromorphic space sensing, counter-disinformation, advanced materials and deployable space structures.

The fund sources deal flow through government channels and strategic networks in the defence and space ecosystems, deploying an enterprise-style field-sales motion in which NSSIF brokers start-up-to-government pathways rather than selling a software or hardware product. It supplements direct equity investment with indirect, fund-of-funds activity through vehicles such as Seraphim Space's SSV II and the UK Innovation & Science Seed Fund (UKI2S), where it co-invests alongside the UK Space Agency, the Ministry of Defence, the UK Atomic Energy Authority and the British Business Bank.

Economically NSSIF operates as a state-backed investor: returns derive from equity participation in portfolio funding rounds, including pre-seed through Series B checks such as TEKEVER's €70M, Space Forge's £22.6M Series A, Optalysys's £23M Series A extension and Archangel Lightworks's £10M+ Series A. Reported impact metrics include £600M of private investment crowded in alongside NSSIF funding, 3,000 direct jobs created and up to 70,000 indirect, and 40% of work programmes leading to technology adoption by UK government customers. Revenue is not publicly disclosed; pricing and investment terms are negotiated privately within funding rounds.

Name

National Security Strategic Investment Fund

Legal name

National Security Strategic Investment Fund

Website

https://nssif.gov.uk

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

NSSIF is the UK Government-sponsored deep tech venture capital fund that invests directly in dual-use national security and defence start-ups and anchors allied space-tech funds, connecting portfolio companies with UK government customers for adoption.

Ownership category

akta.pro rank

Product category

Government Strategic Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investors, Nec (6799), Investment Advice (6282)

akta.pro primary industry

Security & Defense / GovTech Growth Equity (FSANACAN)

akta.pro secondary industries

Primary Fund-of-Funds (Blind-pool FoF) (FSANAGAA), Impact Investment & Development Investment Funds (BPADACAO)

Keywords

• Venture capital funding
• National security investment
• Deep tech startups
• Dual-use technologies
• Defence technology investing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Equity Investment Returns: NSSIF generates returns through equity investments in deep-tech start-ups developing dual-use technologies with strategic relevance to National Security and Defence. The fund participates in funding rounds alongside private investors and aims to crowd in private investment while achieving strategic national security objectives.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

NSSIF is the UK Government's deep tech venture capital fund for National Security and Defence. It invests directly in pioneering start-ups developing dual-use technologies with strategic relevance to NS&D (including quantum computing, photonic computing, laser communications, autonomous AI, counter-disinformation, and advanced sensors), and indirectly leads venture capital funds via limited-partner commitments. The fund also connects portfolio companies with government customers to trial and refine technologies in real-world settings, accelerating integration into UK defence and security programmes.

Product overview

NSSIF is the UK Government's deep tech venture capital fund for National Security and Defence. Rather than offering a software product, NSSIF functions as a strategic investment vehicle that (1) invests directly in pioneering start-ups developing dual-use technologies with strategic relevance to National Security and Defence, (2) indirectly leads venture capital funds, and (3) connects high-potential start-ups with government customers to trial and refine technologies in real-world settings. NSSIF provides access to pathways, portfolio companies, and investment partners rather than traditional product offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct equity investment in dual-use technology start-ups Direct equity investment into pioneering start-ups developing dual-use technologies with strategic relevance to UK National Security and Defence, including quantum computing, photonic computing, laser communications, autonomous AI, counter-disinformation, advanced sensors, space systems, and advanced manufacturing for critical industries. Targeted at deep-tech founders and CEOs from Seed through Series B.
• Indirect investment via venture capital fund partnerships Limited-partner commitments by NSSIF into specialist early-stage venture capital funds focused on space, defence, and dual-use deep tech — for example, NSSIF acts as a cornerstone investor in Seraphim Space SSV II (which exceeded its target and invests across the US and Europe) and co-invests alongside UKI2S and the British Business Bank. Targeted at General Partners and Managing Partners of early-stage deep-tech and space VC funds.
• Pathways — government customer trial and adoption programme Facilitation service connecting NSSIF portfolio companies with UK government customers — including the Ministry of Defence, UK Space Agency and defence agencies — to trial, refine, and adopt dual-use technologies in real-world settings, accelerating integration into NS&D product roadmaps and procurement pathways.

Quantifiable outcome

• 40% of work programmes led to technology being adopted by UK government customers
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• DARPA: US Department of Defense R&D agency funding breakthrough technologies for national security. Comparable as a government funder shaping the deep-tech supply chain, though primarily a grant-making body rather than equity investor.
• BAE Systems: UK-headquartered global defence prime with internal R&D and external venturing activity. Represents the broader UK defence-industrial incumbent that NSSIF portfolio companies must integrate into for scale.
• Lockheed Martin Ventures: Corporate venture arm of a global defence prime, investing in dual-use technologies that feed back into a major US defence supplier. Useful comparator for what a well-funded incumbent defence strategic investor looks like, though US-tilted.
• Defence Innovation Unit (DIU): US Department of Defense organization accelerating commercial technology into military use. Plays a procurement-and-pilot role analogous to NSSIF's 'connect startups to government customers' function, but operates within a much larger defence ecosystem and budget.

Direct peers

• UK Innovation & Science Seed Fund (UKI2S): UK government-linked seed fund (managed by Future Planet Capital) investing in UK deep tech with co-investment from MoD, UKSA and UKAEA. An obvious comparand given overlapping LPs and explicit co-investment activity with NSSIF (e.g., Optera).
• In-Q-Tel: US intelligence-community-affiliated venture firm investing in dual-use technologies for the CIA and broader national security community. The original government-backed deep tech VC and the historical template NSSIF most closely resembles.
• DIANA (NATO Defence Innovation Accelerator for the North Atlantic): NATO accelerator and test-centre network for dual-use deep tech across member nations. Closely parallels NSSIF's trial-and-adoption thesis focused on national security buyers and allied-nation startups.
• NATO Innovation Fund (NIF): Multilateral, NATO-sponsored venture fund investing in deep tech (AI, quantum, autonomy, space) across allied nations. Closely matches NSSIF's mandate, fund-of-funds structure and dual-use investment thesis, but operates at an alliance rather than UK-national level.

Others

• British Business Bank: UK government-backed development bank providing growth capital across the UK economy and acting as an institutional co-investor alongside NSSIF in funds such as Seraphim SSV II.

Emerging players

• Seraphim Space: Specialist SpaceTech VC fund manager (SSV II fund exceeded €84m target; >$550m AUM). A cornerstone NSSIF partner and overlapping thematic investor across space-enabled dual-use technology, defence and climate applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nssif

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments23 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Security Strategic Investment Fund