Shield Capital

Founding Managing Partners Philip Bilden and Raj Shah lead the investment team, supported by Partners Michael Brown and John Serafini. The firm lists seven investment professionals total on its team page, including Principals Akhil Iyer and David Rothzeid. Investment decisions appear concentrated within this group.

Shield Capital sources primarily through its network of national security leaders, including a formal National Security Advisory Board that features a former Chairman of the Joint Chiefs, a former NATO Supreme Allied Commander, and a former Director of the National Geospatial-Intelligence Agency. This architecture provides direct line-of-sight into defense procurement needs and the companies emerging to address them.

Shield Capital invests at the early stages — seed and Series A. Recent disclosed deals include leading the seed round for Autonomous Cyber, co-leading the seed round for UFORCE alongside Lakestar, and co-leading Star Catcher's $65 million Series A. The firm describes its mandate as backing early-stage companies building technologies in AI, autonomy, cybersecurity, and space.

Shield Capital does not publish a formal exclusion list. The firm's stated focus is narrow — artificial intelligence, autonomy, cybersecurity, and space — suggesting that sectors outside these categories are unlikely to receive capital. No portfolio companies outside these domains appear in disclosed holdings.

Available information indicates Shield Capital conducts direct venture investments in early-stage companies. There is no public disclosure of fund-of-funds commitments or LP positions in other venture firms.

Shield Capital is structured as a venture capital firm, not a family office. It raises external capital and describes itself explicitly as "a venture capital firm investing in early-stage companies." Its team includes a Head of Capital Formation and Director of Investor Relations, consistent with a fund model.

Shield Capital routinely co-invests. The firm co-led Star Catcher's Series A with B Capital and Cerberus Ventures, and co-led UFORCE's seed round with Lakestar, indicating a collaborative rather than proprietary approach to early-stage defense-tech syndication.