Sille Pettai, CEO of Estonian LP SmartCap.

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Analysis

February 19, 2025

Meet the LP which won't back VCs unless they can back weapons

Estonian state-backed LP SmartCap recently launched a €100m defence fund that CEO Sille Pettai says aims to take “risks” on first-time GPs

Anne Sraders

5 min read

VCs have become more interested in raising funds able to invest in defence, but one big sticking point is that it’s a no go for many of their investors. 

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Anne Sraders

Anne Sraders is a senior reporter at Sifted, based in Berlin. She covers the VC industry and deeptech startups. She also writes Sifted's weekly VC newsletter Up Round. Follow her on X and LinkedIn

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