Our approach
Soldier-validated before we invest; built for a Western exit after.
We back battle-tested founders building dual-use, defense, AI and cyber products. Green Flag is the earliest-established U.S. fund inside Ukraine’s defense tech ecosystem, and the only one with local GPs.
Our edge4
Operators, not tourists
We’ve founded and scaled a venture-backed company, and spent fifteen years operating on the ground, four of them directly assisting the ecosystem we now invest in, before anyone else. We don’t have to find the right people; we’ve been friends for years.
We build, not just back
More than a check: business development, financing, marketing, and technical expertise. We bring co-investors in on the terms we set, structure each investment for a Western exit, and open doors to the primes most likely to buy.
The expert’s experts
No retired generals with dated knowledge. Front-line operators in defense innovation, cyber, AI, and procurement, the people primes and program offices call, pressure-test the tech, the team, and the buyer thesis before we wire. It’s diligence most funds can’t run.
Wired both ways
Founders and front-line users route deals to us before they’re priced; Western buyers ask us what’s working. We have direct lines into Europe’s defense-innovation clusters and the NATO working groups structuring future procurement. We know who’s buying and what they need.
What we look for5
Defensible IP
Sensors and software; platform-agnostic products; proprietary data no one can simulate or replicate.
Western-ready teams
Teams that can build a business, not only products.
Dual-use by design
The company scales beyond defense into civil and commercial markets; neither its market nor its exit depends on active conflict.
Soldier-approved
A front-line unit endorses the product and will walk us through why.
Clear exit path
Buyers and the procurement path into the EU and U.S. are mapped before we invest.
Focus areas10
- Comms
- Data management
- Electronic warfare
- Sensors
- Robotics
- Autonomy and C2
- ISR
- Cyber
- Counter-UAS
- AI-enabled logistics
Stage and structure4
Stage labels have lost most of their objective meaning: one fund’s seed is another’s Series A. We focus on technology readiness level (TRL) instead, with emphasis on TRL 5 and above.
Technology readiness
Our emphasis is TRL 5 and above: technology validated in a relevant environment, on its way to proof in an operational one.
Structure
Every portfolio company is domiciled outside Ukraine before we invest, so it can rely on international law and IP protection and avoid import and export control problems.
Co-investors
We bring co-investors in on the terms we set.
Exit
Each investment is structured for a Western exit, with strategic M&A as the base case.
After we invest4
Revenue, not just advice
We work between our founders and buyers to drive bookings into U.S. defense, civil, and European channels.
Doors to buyers
Introductions to the primes and program offices most likely to buy.
Expert network
Front-line practitioners in defense innovation, cyber, AI, and procurement join both diligence and go-to-market.
Financing
Help structuring and raising follow-on rounds, with co-investors we know.