NATO and its allies are facing the most challenging global environment with the most severe ramifications since the end of the Cold War. The rise of China, the emergence of a revanchist Russia, continued turmoil in parts of the Middle East as well as threats from other state and non-state actors pose existential risks to global stability and security. 

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​Technological superiority has been and continues to be the most credible deterrent to war. Technological advantage in defense, national security, space, and critical technologies plays a pivotal role in the protection of our territorial integrity, our freedoms, independence, values, and vital national infrastructure and interests. ​

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Presently, this superiority is at risk as our qualitative and quantitative advantage over other great powers is eroding. Rapid technological developments are profoundly altering the national security landscape and the nature of warfare and our adversaries are building arsenals of advanced weapons. 

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The future of national security and warfare will be defined by technology, speed, agility, and innovation. As we have witnessed in other industries, the combination of private capital with the technological prowess of founders is the most powerful driver of innovation. It is therefore crucial to harness the power of venture capital and private equity to enable the transformation of allied technological capabilities to meet the security demands of the 21st century. We believe that these transformative processes (including the necessary structural reforms to procurement, regulation, and culture) will play out over the next 20 years.   

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Fundamental shifts in threats and technology require fundamental changes in how we protect our freedom and democratic values.  The time to make urgent and major change is now.