To our Partners and Stakeholders,

Across allied capitals and capital markets alike, February reinforced a structural reality: defense innovation has moved from thematic interest to strategic imperative. From London and Munich to Riyadh and Miami, policymakers, sovereign investors, venture leaders, and defense operators converged around a shared conclusion: speed of industrial delivery now defines strategic advantage.

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This month’s briefing reflects that convergence. Government signals across the United States, UK, and Europe emphasise procurement reform, counter-UAS capability scaling, sanctions enforcement, and industrial output expansion. At the same time, sovereign wealth funds and institutional allocators are articulating a clear tilt toward defense, quantum systems, advanced manufacturing, and dual-use technologies as long-duration sources of resilience and outperformance. As geopolitical risk persists and technological cycles compress, capital’s role in enabling credible deterrence, supply chain security, and operational readiness continues to deepen.

BOKA NEWS

UK MoD Defence & Dual-Use Showcase (5 Feb)

BOKA Partner Grant Hume represented BOKA at the UK Ministry of Defence’s Defence Equipment, Defence & Dual-Use Showcase in London. Defence Secretary John Healey MP and National Armaments Director Rupert Pearce emphasized the growing requirement for venture capital and private equity in emerging and disruptive defense technologies.​​

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World Defense Show – Saudi Arabia (8-12 Feb)

BOKA Senior leadership, including Senior Advisor Dame Penny Mordaunt, attended the World Defense Show, expanding engagement with GCC defence ecosystems, funders, and innovators and reinforcing BOKA’s global network in defense and national security innovation.

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Munich Security Conference Week (w/c 9 Feb)

BOKA Partner Niklas List participated in key MSC-associated events, including the Munich Security Breakfast with investors, NATO representatives, and ministers, featuring remarks by EU Commissioner for Defense and Space, Andrius Kubilius, and the Mission 2044 Luncheon with former U.S. Undersecretary of Defense William A. LaPlante, underscoring innovation, procurement reform, and allied industrial priorities.

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Global Alts Miami (w/c 23 Feb)

BOKA CEO, John James, attended Global Alts Miami 2026, engaging with new and existing limited partners to discuss BOKA’s core investment strategy in defence and national security. Notable perspectives included remarks from Joe Lonsdale on the strategic importance of defence innovation, positive commentary on defence-related investment from General (Ret.) Christopher G. Cavoli, and a dedicated panel discussion on Mission Critical: Investing in Cutting-Edge Defense Technologies. The panel on The Sovereign Wealth Fund (SWF) Perspective: Long-Term Capital Deployment in a Volatile World reinforced a clear structural shift in capital allocation. Sovereign investors articulated a decisive tilt toward defence and advanced emerging technologies as core pillars of long-term outperformance, particularly across quantum systems and advanced manufacturing.

​Critical Mass Frontiers Technology  (25 Feb)

BOKA attended the Critical Mass Frontiers Technology Dinner hosted by Wilson Sonsini Goodrich & Rosati in London, engaging with venture and PE investors on BOKA’s approach to investing in defense and national security technologies.

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UK–Japan Connect (25 Feb)

BOKA Associate Rasmus Fogelstrøm attended UK-Japan Connect (hosted by Baker McKenzie), highlighting the drive for deeper UK-Japan collaboration in core deep tech verticals such as quantum technologies, secure communications, and dual-use systems.