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November 2025
The New Geometry of Allied Power
QUANTUM SYSTEMS, MULTI-ORBIT NETWORKS AND THE PROCUREMENT SHIFT CHANGING THE DEFENSE LANDSCAPE
To our Partners and Stakeholders,
November marked a step-change in the technological foundations of allied security. Quantum timing systems moved into operational testing, multi-orbit networks advanced through new partnerships, and the U.S. signalled sweeping procurement reform aimed at accelerating capability delivery. Across NATO and the Indo-Pacific, the message was unmistakable: the nations that fuse innovation with investment will define the next era of strategic advantage.
BOKA NEWS
Responsible Investment Forum: Europe 2025 — London (Nov 18) ↗
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BOKA CEO, John James, spoke on the panel “Can private equity responsibly invest in defence technologies?” at the New Private Markets Responsible Investment Forum: Europe 2025. The session brought together perspectives from ESG, ethics, early-stage venture and European sovereign investment.
Key themes included the rapid shift in investor sentiment toward defense, the prominence of dual-use technologies in responsible-investment discussions, and the growing need for transparent governance frameworks aligned with allied interests. The panel agreed that private equity and venture capital now play a mission-critical role in responsibly accelerating delivery of essential capabilities.
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Tectonic European Defense Summit — Paris (Nov 12–13) ↗
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BOKA attended the inaugural Tectonic European Defense Summit on 12–13 November, joining European and allied leaders to discuss emerging technologies, security policy and innovation delivery for Ukraine and broader European defense.
Key takeaways:
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- Strong commitment from startup CEOs to deliver advanced war-fighting capabilities.
- Clear demand signals from governments for increased VC/PE investment into defense.
- Candid assessments of the national-security environment and an urgent call to accelerate innovation to frontline forces.​​
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SuperVenture North America 2025 — New York (Nov 19) ↗
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BOKA Partner Gregory Pepus spoke on the panel “The Impact of VC on Defence & Security” at SuperVenture North America 2025. The discussion explored the growing influence of venture capital on defense innovation, the pace at which new technologies can be fielded, and the increasing alignment between government requirements and private-sector investment. Pepus highlighted how early-stage capital is reshaping the DefenseTech landscape and enabling non-traditional suppliers to deliver decisive capability advantages.
PORTFOLIO SPOTLIGHT
Infleqtion — Quantum Space, HPC Integration & Operational Timing Systems
Announced a strategic partnership with Voyager Technologies to advance quantum-enabled systems in low-Earth orbit. ↗
Launched a partnership with Oak Ridge National Laboratory to integrate quantum processors with high-performance computing systems. ↗
Introduced the NVIDIA NVQLink™ quantum system in Illinois, expanding hybrid quantum–classical compute capacity across the region. ↗
Demonstrated the world’s first quantum optical clock on an autonomous underwater vehicle with the Royal Navy, advancing GPS-free navigation and resilient timing for contested environments. This follows Infleqtion’s earlier airborne quantum-sensor trials with BAE Systems and QinetiQ last year. ↗
ALL.SPACE — Multi-Orbit Orchestration & Alternative PNT Development
Awarded €950k by ESA’s NAVISP programme to develop GNSS-independent Position, Navigation & Timing capability for contested and signal-denied environments. ↗
Announced a strategic partnership with Aalyria to integrate the Hydra multi-link terminal with Aalyria’s Spacetime orchestration engine, enabling autonomous multi-orbit networking across LEO, MEO, GEO and terrestrial systems for defence and government customers. ↗
Agile Space — Propulsion Testing, Lunar Support & Oklahoma Aerospace Expansion
Completed a highly active month of hot-fire testing at the Durango propulsion facility, reinforcing more than 13 years of experience in mission-driven thruster testing for commercial, civil and defence spacecraft.
Announced that Agile test stands are supporting Firefly Aerospace’s lunar programme. ↗
Participated in the Oklahoma Aerospace Forum, where COO David Cuthbertson joined a panel discussion on aerospace expansion and highlighted the role of Agile’s forthcoming Space Test Center.
Contributed to the State Capitol interim study “The Oklahoma Space Renaissance,” assessing Oklahoma’s potential as a next-generation aerospace and propulsion hub.
IRIS Audio — Compliance & Communications Resilience ↗
Published new insights on regulatory readiness and AI-enabled voice analytics, expanding IRIS Clarity deployments across regulated enterprise environments while refining its noise-reduction and compliance toolset for high-volume, mission-critical communications.
MARKET WATCH
U.S. DoW Acquisition Overhaul (Nov 7)
National Defense Magazine ↗ interview with DoD leadership outlines a major shift in U.S. defence procurement, with Pete Hegseth declaring “the acquisition system as you know it is dead,” signalling a move toward faster fielding, reduced bureaucracy and outcome-driven contracting.
Signal: Stronger alignment with commercial innovation and faster adoption of dual-use technologies across DoD programmes.
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UK Defence Financing & Procurement Pressure (Oct 15)
Analysis highlights UK MoD challenges in funding rising defence commitments, with scrutiny on whether the government can meet procurement and readiness goals without reform. ↗
Takeaway: Opportunities for private-sector capital to fill capability gaps, especially in ISR, autonomy, supply-chain resilience and secure networking.
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NATO–Allied Industrial Deepening: U.S.–Japan Cooperation (Nov 11)
IISS analysis ↗ details the strengthening of U.S.–Japan defence-industrial cooperation, including joint production, technology transfer and advanced manufacturing.
Strategic significance: Reinforces the Indo-Pacific industrial base and expands co-investment opportunities tied to AUKUS and trilateral innovation frameworks.
The Pentagon Can’t Trust GPS Anymore – Is Quantum Physics the Answer? (Nov 19)
The Wall Street Journal ↗ reports that the Department of War can no longer rely on GPS due to increasing adversarial jamming and spoofing, prompting accelerated interest in quantum-based timing and navigation systems.
Implication: Growing urgency across DoW and allied governments for resilient PNT architectures, quantum optical clocks and GNSS-independent navigation technologies.
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Adversarial Capability Surge — Hypersonics & A2/AD (Nov)
A new Atlantic Council report ↗ warns that China and Russia continue accelerating hypersonic strike systems and expanding anti-access/area-denial (A2/AD) postures around key theatres.
Implication: Rising demand among allies for resilient PNT, counter-hypersonic sensors, multi-orbit comms and rapid-fielding autonomy platforms.​