Shield Capital

Funds early-stage security and strategic technology firms through Shield Capital equity investments and partner-driven selection pathways.

Shield Capital is a US-based venture capital firm founded in 2021 by Philip Bilden and Raj Shah (former Director of the Defense Innovation Unit). The firm invests in early-stage companies — seed through Series A — at the intersection of commercial technology and national security, with a sector focus on artificial intelligence, autonomy, cybersecurity, and space.

Shield Capital closed its debut fund, Shield Capital Fund I, L.P., in October 2023 at $186 million — oversubscribed 55% above its $120 million target. All capital deployed is equity-based (preferred shares). The firm does not operate grant programs, non-dilutive capital programs, or SBIR-match vehicles. Access is via warm introduction or inbound deal flow; there is no open application portal.