MD ONE Ventures
MD ONE Ventures is Europe's first National Security-focused venture capital firm, founded in 2021 and based in London, investing at Pre-Seed to Series A in dual-use DeepTech companies serving commercial and governmental end users across defence, biotech, AI, and advanced materials.
- Company typePrivate
- Founded2021
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What MD ONE Ventures does
MD ONE Ventures Limited is a London-based venture capital firm founded in 2021 by Will McManners, Edward Ebbern, and Kelvin Au, positioned as Europe's first dedicated Defence and National Security VC firm. The firm invests at Pre-Seed through Series A stages in dual-use DeepTech companies whose technologies serve both commercial and governmental end users, with a stated intention to make follow-on investments in two subsequent rounds. Its investment thesis spans applied DeepTech across sectors including autonomous defence robotics, advanced materials, satellite imaging, AI, biotech/biosecurity, electric propulsion, and critical minerals, with portfolio companies such as XTEND, Materials Nexus, Milvus Advanced, Pimloc, SatVu, Greenjets, and Airfinity.
The firm's core offering combines equity capital with sector-specialist value-add, including access to a partner network anchored by the Defence Battle Lab (providing 15,000ft cleared airspace, maritime testing, and live fire capabilities) and Randox Laboratories (providing diagnostics infrastructure, labs, and global distribution across 145+ countries). In December 2025, MD ONE co-launched the 'Randox for Builders' biotech and biosecurity accelerator with Randox, extending its vertical reach into national resilience and population health. The firm also publishes the annual UK Defence Technology report in partnership with Beauhurst, establishing thought leadership in the European defence tech ecosystem.
MD ONE generates revenue through traditional VC fund management economics: management fees on committed capital from its investment fund and carried interest on successful portfolio exits. The firm is FCA-regulated as an Appointed Representative of AQ1443 Ltd (FRN 979833) and serves Professional Clients and Eligible Counterparties only, declining to transact with Retail Clients. Its go-to-market is relationship-driven, relying on direct founder outreach via website, LinkedIn presence, network referrals from partners, and the firm's proprietary deal flow generated through its sector specialism and annual research publications.
MD ONE Ventures firmographics
Firmographics- Name
- MD ONE Ventures
- Legal name
- MD One Ventures Limited
- Website
- https://md-one.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- MD ONE Ventures is Europe's first National Security-focused venture capital firm, founded in 2021 and based in London, investing at Pre-Seed to Series A in dual-use DeepTech companies serving commercial and governmental end users across defence, biotech, AI, and advanced materials.
- Ownership category
- akta.pro rank
MD ONE Ventures industry classification
Industry- Product category
- Venture Capital / Private Equity
- NAICS
- Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)
- akta.pro secondary industry
- Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)
Keywords
Where MD ONE Ventures is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
MD ONE Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Venture Capital Fund Management: MD One generates returns through traditional VC mechanisms: management fees on committed capital from its investment fund, and carried interest (performance fees) on successful exits and distributions to LP investors. The firm seeks to deliver significant value-add to portfolio companies and aims to make follow-on investments into two subsequent funding rounds. Revenue is generated entirely from the investment performance of portfolio company exits and management of the fund.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
MD ONE Ventures product offering
Product offeringCore offering
MD ONE Ventures is a European venture capital firm that invests equity capital in Pre-Seed to Series A DeepTech companies developing dual-use technologies for commercial and governmental end users in the national security and defence sectors. Its offering combines capital deployment with sector expertise, a founder-friendly approach, follow-on support into two subsequent rounds, and access to an operational network including Defence Battle Lab testing facilities and Randox's diagnostics and distribution infrastructure.
Product overview
MD ONE Ventures is Europe's first National Security VC firm, founded in 2021, offering a unified investment platform for Pre-Seed to Series A companies developing dual-use DeepTech for national security. The core offering combines investment capital with sector-specific expertise and a founder-friendly approach. The Randox for Builders accelerator program (in collaboration with Randox Laboratories) provides portfolio companies with scientific, infrastructure, and regulatory support, while the Network Services connect founders with Defence BattleLab testing facilities and Randox's global distribution footprint. MD ONE also publishes annual UK Defence Tech Reports in partnership with Beauhurst, positioning itself as a thought leader in the national security innovation ecosystem.
Differentiator
Problem solved
Functional benefit
Products and services
- MD ONE Ventures Investment Platform
- Randox for Builders
- Defence Battle Lab Network Services
Quantifiable outcome
- XTEND achieved $1.5B valuation listing on Nasdaq (February 2026)
- +3 more outcomes
Companies that use MD ONE Ventures
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
MD ONE Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
MD ONE Ventures partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- RandoxcoreMD One and Randox co-launched 'Randox for Builders', a security and biotech incubator/accelerator supporting early-stage companies developing technologies for national resilience. The program offers access to Randox's diagnostics infrastructure, labs, global market routes (offices in 145+ countries), and regulatory expertise. Portfolio companies include Untap Health and Airfinity. The partnership provides commercial partnerships, distribution channels, manufacturing, R&D resources, and regulatory platform support.
- Defence Battle LabcoreMD One works with the Defence Battle Lab, a world-leading innovation hub designed to foster Defence Industry collaboration without constraints. Battle Lab Incubate offers a platform for industry operators from Prime Contractors, SMEs and Academics to directly engage with the MOD. Capabilities include 15,000ft cleared airspace, private maritime testing area, live fire capability, magnetic testing range, and multi-domain integration. Edward Ebbern, MD One Co-Founder, founded the UK's Defence Battle Lab tech accelerator.
- AQ1443 LimitedcoreMD One Ventures Limited (FRN 979833) is an Appointed Representative of AQ1443 Ltd, a firm authorised and regulated by the Financial Conduct Authority (FCA), FRN: 978496. The contents of MD One's website have been approved for communication in the UK by AQ1443 Limited in reference to Professional Clients and Eligible Counterparties only.
- BeauhurstcoreMD One has partnered with Beauhurst for three consecutive years (2023, 2024, 2025) to publish the UK Defence Technology sector reports. These reports analyse investment trends in UK defence tech companies, identify dual-use investment opportunities, and establish MD One as a thought leader in the European defence tech ecosystem.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
MD ONE Ventures competitors and assessment
Company assessmentDirect peers
- Founders Fund: US deep-tech and defence-adjacent venture firm with a long track record of backing national-security-adjacent companies (Palantir, SpaceX, Anduril). Highly comparable in thesis: conviction-led investing in founders building dual-use frontier technology for government and commercial end users.
- Lux Capital: US deep-tech VC investing in frontier science and engineering, with a notable portfolio in defence, space, robotics, and biotech. Directly comparable to MD One's deeptech/double-use focus and specialisation in capital-intensive technical founders.
- NATO Innovation Fund: Venture fund backed by 23 NATO allies investing in dual-use deeptech for defence, security, and resilience across Europe. The most directly comparable institutional peer to MD One in terms of geography, mandate, and target subsectors.
Regional players
- Hoxton Ventures: London-based early-stage VC investing across Europe with deep-tech exposure. Direct co-investor with MD One on Milvus Advanced ($6.9M seed) and a comparable regional early-stage fund.
- Octopus Ventures: UK-based early-stage VC with deep-tech and biotech exposure. Regional European peer in the early-stage deeptech category, operating at larger fund scale than MD One.
- Molten Ventures (formerly Draper Esprit): London-listed European deeptech and growth VC; previously led by Kelvin Au at Draper Esprit. A UK/European regional peer with comparable sector breadth but a broader stage range and public-company governance.
Broad incumbents
- General Catalyst: Large global VC with an active defence-tech practice (Helsing, Anduril investments). Broad incumbent in the same deeptech/defence-tech category, but operating across many sectors rather than specialising in national security.
- Airbus Ventures: Corporate venture arm of Airbus, investing in aerospace, mobility, and dual-use deeptech across Europe. A direct co-investor with MD One (BiFrost AI) and a broad incumbent in the European defence-tech ecosystem.
- Saab Ventures: Corporate venture arm of Saab, the Swedish defence prime, investing in dual-use and emerging defence technologies. Broad incumbent operating in MD One's space from a corporate-strategic angle.
- Andreessen Horowitz (a16z): US generalist mega-VC with the 'American Dynamism' thesis explicitly focused on defence, manufacturing, and national-security-adjacent companies. Comparable in subsector focus but at materially larger fund scale and broader mandate.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
MD ONE Ventures social profiles
Digital presenceMD ONE Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
MD ONE Ventures leadership team
Management profileNumber of profiles
Profiles6 records
MD ONE Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MD ONE Ventures M&A and investment
M&A and investmentM&A
Investments18 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MD ONE Ventures
What does MD ONE Ventures do?
MD ONE Ventures is a European venture capital firm that invests equity capital in Pre-Seed to Series A DeepTech companies developing dual-use technologies for commercial and governmental end users in the national security and defence sectors. Its offering combines capital deployment with sector expertise, a founder-friendly approach, follow-on support into two subsequent rounds, and access to an operational network including Defence Battle Lab testing facilities and Randox's diagnostics and distribution infrastructure.
Is MD ONE Ventures a public or private company?
MD ONE Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was MD ONE Ventures founded?
MD ONE Ventures was founded in 2021. It employs 1 to 10 people.
Where is MD ONE Ventures based?
MD ONE Ventures is headquartered in London, United Kingdom, in the Europe region.
How does MD ONE Ventures make money?
One revenue line is on record: venture Capital Fund Management.
Who are MD ONE Ventures's main competitors?
Direct peers on record are Founders Fund, Lux Capital and NATO Innovation Fund. Regional players are Hoxton Ventures, Octopus Ventures and Molten Ventures (formerly Draper Esprit). Broad incumbents are General Catalyst, Airbus Ventures, Saab Ventures and Andreessen Horowitz (a16z).
Does MD ONE Ventures have an API?
No public API is recorded for MD ONE Ventures.
What industry is MD ONE Ventures in?
MD ONE Ventures's product category is Venture Capital / Private Equity. Its primary akta.pro industry code is FSANAHAF, Corporate Strategic Partnership & Ecosystem Investment Arms, with a secondary code of FSANAHAN, Corporate Strategic Real Assets & Infrastructure Venture Investing. Its NAICS code is 523940 and its SIC code is 6282.