Updated:
ScaleWolf
ScaleWolf is a leading hybrid approach of grants, acceleration, and capital. First to launch a regional dual-use program, in collaboration with the Lithuanian...
ScaleWolf
ScaleWolf is a leading hybrid approach of grants, acceleration, and capital. First to launch a regional dual-use program, in collaboration with the Lithuanian Ministry of Economy and Innovation, raising a dual-use Venture Capital (VC) fund and sponsoring an allied technology accelerator based in Vilnius called ScaleWolf.
General information
Firm type
Private Equity
Year founded
2023
AUM
Undisclosed
Location
Region
Europe
Country
Lithuania
City
Vilnius
Corporate office
Vilnius, Lithuania
Additional offices
Alexandria, Virginia, United States
Principals
Edvinas Kerza
Managing Partner
Dave Harden
Managing Partner
Alexandra Shah
Partner
Viktorija Černiauskaitė
Investment Director
Brigita Bimbiraitė
Head of Operations
Johannes Jäämeri
Investment Associate
Sector focus
Frequently asked questions
How does ScaleWolf source its deal flow?
ScaleWolf's deal flow originates from the defense networks of its managing partners. Edvinas Kerza, a former Lithuanian Vice-Minister of Defense and architect of EU cyber defense policy, and Dave Harden, founder of the U.S. Air Force's AFWERX program, connect the firm to NATO innovation pipelines. This access surfaces early-stage dual-use startups already on the radar of allied procurement agencies.
What is ScaleWolf's dual-return model?
The firm structures each investment to generate both near-term cash flow from government contracts and long-term equity appreciation. Startups earn revenue by deploying technology with allied defense customers while simultaneously building commercial market value. This model is designed to shorten the typical venture liquidity timeline to three to five years.
Does ScaleWolf only invest in defense technology?
No. While defense is a core vertical, ScaleWolf's mandate extends to energy and data infrastructure with dual-use applications. The firm looks for technologies in modular power grids, energy storage, and low-latency compute systems that serve both military resilience and commercial markets. This broadens the addressable market for its portfolio companies beyond government budgets.
Who runs investment decisions at ScaleWolf?
Investment decisions are led by managing partners Edvinas Kerza and Dave Harden. Kerza contributes policy and procurement expertise from his tenure as Lithuania's Vice-Minister of Defense. Harden contributes venture-building discipline honed while directing the Pentagon's technology outreach. Investment Director Viktorija Černiauskaitė, who previously built Lithuania's dual-use tech ecosystem, manages day-to-day deal execution.
Is ScaleWolf a venture capital firm or a family office?
ScaleWolf operates as an asset manager structured like a private equity firm focused on venture-stage dual-use technology. It is not a family office. The firm raises capital from external investors and allies it with non-dilutive government funding, distinguishing it from both traditional VC funds and single-principal investment vehicles.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on private equity firms?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: