Sille Pettai, CEO of Estonian LP SmartCap.

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 venture capital industry and deeptech startups, including robotics, spacetech and defence tech. She also writes Sifted's weekly VC newsletter Up Round. Follow her on X and LinkedIn

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