Force Multipliers: Why National Security and Defence Veterans Can Excel in European Venture

In this guest post, Hugo Jammes outlines the unique advantages that vets bring to Europe’s venture ecosystem

Europe’s venture ecosystem is evolving rapidly, with increasing global competition, a battle for talent, and a growing need for investors and entrepreneurs who can navigate uncertainty and foster innovation.

Among the emerging groups making a significant impact are veterans of national security and defence. Leaving the military or national security community comes with a bewildering range of career choices and decisions – many of which, on the face of it, have limited obvious relevance if you are more used to working at the sharp end of foreign policy.

The author in Afghanistan. Credit: Hugo Jammes

When I left the Regular Army, venture was not a common route for veterans to pursue. I ended up following a more well-trodden path, joining J.P. Morgan and working alongside over 11,000 veterans across the Bank’s global footprint. It wasn’t until I started building out my own network and transactional experience that venture became a realistic career option.

That is now changing. Funding for defence related ventures in 2025 has already reached $1.5 billion, and there is every reason to believe that figure will rise. In parallel, greater numbers of veterans are seeking the opportunity to shape the next generation of disruptive technologies.

Individuals with national security and defence backgrounds are exceptionally well suited to thrive in the world of venture, and both venture funds and companies should consider employing more veterans amongst their workforce.

Thank You For Your Service

The US is generally much further ahead in providing opportunities for its veterans. You can find veteran owned and operated businesses in almost all industries. US veterans have founded some of the most successful businesses in the US, from Fred Smith at FedEx to Bob Parsons at GoDaddy. Veterans have also contributed to some of the highest-velocity defence tech (and defence-adjacent) companies in the US, from Palantir to Anduril and Shield AI to name a few.

Happily, there are a growing number of trailblazers leading the way in Europe, both as operators and as capital allocators. The ARX Robotics team rightly pride themselves on their military service with the German Armed Forces, serial entrepreneur Florian Seibel (Quantum Systems, Stark) served with the Bundeswehr, Dean Jones and Josh Burch combine specialist defence and national security knowledge at investor GALLOS Technologies, Tristam Constant leverages more than a decade of military service leading Applied Intuition’s European efforts, Sam Burrell served in the Royal Marines prior to investing at Expeditions and Nicola Sinclair is carving her own path as a solo GP building on her unique experiences following a 20 year career in the Royal Air Force.

There are just a few examples: there are other individuals across Europe with impressive national security or defence backgrounds who could be added here. Indeed, the excellent recent report from Dealroom and Resilience Media found that amid a surge of defence tech funding, 14% of Defence Tech founders have military or MoD experience and 16% of defence-focused investors have national security or defence backgrounds. This is a sharp rise from even 5 years ago but is still a drop in the ocean compared to the size of our wider ecosystem and the value such individuals could bring.

Strategic Thinking and Decision-Making

It may be a stretch to state that all defence and security roles demand rigorous organisational skills and decision-making competence. But many veterans are typically accustomed to analysing incomplete data, weighing competing priorities, and acting decisively - skills directly transferable to venture. VC investors need to evaluate early-stage companies with limited information, anticipate emerging trends, and commit to high-stakes decisions with significant capital at risk. Venture founders need to iterate products, eliminate risk and build teams faster than their competition. The overlap in terms of discipline between national security and defence operators and those in the venture ecosystem is striking.

Adaptability and Resilience

It will come as no surprise to readers that national security and defence veterans are generally trained to operate in high-pressure, unpredictable environments. The ability to adapt quickly, remain calm under stress, and persevere through adversity is central to both military or national security service and indeed, is vital in the world of venture. In Europe, where start-ups face regulatory complexity, market fragmentation, and geopolitical uncertainty, these qualities are invaluable. Resilience is what enables companies to endure turbulent times, assess risks more effectively, and maintain focus on long-term objectives even amid setbacks.

Leadership and Team Building

Venture is not merely about backing winners or building companies valued over $1 billion; it is about nurturing relationships and strong, long-term partnerships across a wide range of stakeholders. Experience in national security and defence often involves leading diverse teams, championing collaboration, and motivating individuals towards distinct outcomes. Veterans tend to possess exceptional leadership capabilities, often honed in challenging circumstances or on complex programmes. Their ability to mentor individuals, resolve conflicts, and build cohesive teams is a major asset for start-ups and funds alike.

Security Awareness and Risk Management

With science and technology becoming increasingly central to Europe’s economic and security priorities, and a key domain for strategic competition, veterans can bring differentiated perspectives. Veterans offer deep understanding of security challenges and the emerging threat landscape, knowledge that is especially valuable when investing in or building start-ups focused on defence, security and resilience. Protecting a company’s physical and digital security is central to a company’s ability to grow, attract and maintain a diverse range of customers and investors. Advice on managing supply chains (and having contingencies), limiting exposure to geopolitical risk and ensuring a company’s core IP is protected can help companies become more resilient and enduring.

Networks, Access and Scepticism

Dealroom and Resilience Media’s report highlights the growing percentage of funding being directed to defence and dual use technologies (4% in 2025 versus 0.5-1% till 2020). This is both encouraging and needed.

With that being said, most conventional venture funds are not optimised to assess, evaluate or add value to companies working within the defence or national security ecosystem because they typically don’t have the domain experience or networks that could help.

John Ridge, Chief Adoption Officer at the NATO Innovation Fund, is a great example. John brings 3 decades of government service to his role and possesses an incredibly broad range of contacts across end users, problem owners and procurement agencies to support NIF portfolio companies. Veterans also come with a healthy scepticism of government procurement processes and can help founders better manage their cashflow and target the right non-dilutive opportunities that are additive rather than distractive.

Strong Ethical Foundations

One of the key aspects of service in national security and defence are the principles of duty, integrity, and ethical conduct. In a world where defence investment is growing, veterans can help articulate the applications, legalities and complexities of emerging defence or dual use technologies and help build the critical trust required between LPs, investors and startups alike. Indeed, many veterans can draw on first-hand experience of what happens when aggressive, authoritarian regimes pursue short-term policies that threaten our own values and standards.

National security and defence veterans typically possess a combination of resilience, leadership, strategic thinking, risk management, and sector-specific expertise that makes them exceptionally well suited to venture. As the continent continues to foster innovation and compete on a global stage, the unique strengths of veterans will play an increasingly important role in shaping the future of the European venture ecosystem.

Hugo Jammes is the Founding Partner of EDT Ventures. He previously ran the investment team at the National Security Strategic Investment Fund. Prior to that, he worked in investment banking and started his career as an Army Officer serving in a range of roles focused on capacity building including deploying to Afghanistan as part of the NATO Task Force (ISAF).