# Shield Capital: portfolio, investments and team

> Shield Capital is a vc firm based in United States. 47 investments on record, 17 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/shield-capital (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Shield Capital

Last cheque observed Oct 2026; 47 cheques on record.

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Deploying now New fund $258M, Jul 2026 VC firm

Seed Series A Series B Artificial Intelligence Autonomy Cybersecurity

Follow Shield Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fshield-capital)

Deploying now

**85%** of best year **17** **cheques in 12 months**, 47 on record

Since the last cheque **10** days **00** hrs **00** min **00** sec

Median round **$25M** Cheque size, as they say **$100K – $5.0M** Rounds led **5 of 47** Mostly in **United States, 85%**

Pitch Shield Capital

## Shield Capital highlights

- 01 17 cheques in the last 12 months
- 02 Mostly Series A and Series B: 60% of its rounds
- 03 Led 5 rounds

## What they do

> Shield Capital is a venture capital firm investing in early-stage companies building technologies that matter in artificial intelligence, autonomy, cybersecurity, and space. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $100K – $5.0M as they say
- **Stages:** Seed Series A Series B
- **Sectors:** Artificial Intelligence Autonomy Cybersecurity
- **Based in:** San Francisco, United States
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **47 appearances**

- **2026** 16 rounds
- **Oct** **[Watchtower Labs](https://millionrounds.com/company/watchtower-labs)** Seed · US · Pulse 2.0 **$35M** *Led*
- **Aug** **[SiFly Aviation](https://millionrounds.com/company/sifly-aviation)** Series A · US · Ventureburn **$20M** *Led*
- **Jul** **[Ent](https://millionrounds.com/company/ent)** Seed · US · Ventureburn **$100M** With 7 others
- **Jul** **[Reveal Technology](https://millionrounds.com/company/reveal-technology)** Venture · US **$4.6M** With 4 others
- **Jun** **[Westmag](https://millionrounds.com/company/westmag)** Series A · US · Ventureburn **$11M** *Led*
- **May** **[Armada](https://millionrounds.com/company/armada)** Series B · US · TechStartups **$230M** With 17 others
- **May** **[Star Catcher Industries](https://millionrounds.com/company/star-catcher-industries)** Series A · US · Ventureburn **$65M** With 7 others
- **Apr** **[Starfish Space](https://millionrounds.com/company/starfish-space)** Series B · US · Ventureburn **$100M** With 14 others
- **Apr** **[Seifert Dynamics](https://millionrounds.com/company/seifert-dynamics)** Series A · US **$13M** With 4 others
- **Apr** **[TENEX.AI](https://millionrounds.com/company/tenex-ai)** Series B · US · Ventureburn **$250M** With 4 others
- **Mar** **[UFORCE](https://millionrounds.com/company/uforce)** Seed · GB **$50M** With 3 others
- **Mar** **[Vector](https://millionrounds.com/company/vector)** Debt · GB **$20M** With 4 others
- **Feb** **[Code Metal](https://millionrounds.com/company/code-metal)** Series B · US · Ventureburn **$125M** With 9 others
- **Feb** **[Seasats](https://millionrounds.com/company/seasats)** Series A · US **$20M** With 3 others
- **Feb** **[Chariot Defense](https://millionrounds.com/company/chariot-defense)** Series A · US **$34M** With 6 others
- **Jan** **[Overwatch Imaging](https://millionrounds.com/company/overwatch-imaging)** Venture · US **$500K** With 3 others
- **2025** 14 rounds
- **Dec** **[Anetac](https://millionrounds.com/company/anetac)** Venture · US **$2.0M** With 1 other
- **Oct** **[Neinor Homes](https://millionrounds.com/company/neinor-homes)** ES **$163M** With 1 other
- **Sept** **[Apex](https://millionrounds.com/company/apex)** Series D · US **$200M** With 6 others
- **Sept** **[TENEX.AI](https://millionrounds.com/company/tenex-ai)** Series A · US **$27M** With 3 others
- **Sept** **[Jushi Holdings](https://millionrounds.com/company/jushi-holdings)** Debt · US **$4.0M** With 1 other
- **Jul** **[Obviant](https://millionrounds.com/company/obviant)** Venture · US **Undisclosed** With 2 others
- **Jul** **[Armada](https://millionrounds.com/company/armada)** Venture · US **$131M** With 5 others
- **Jul** **[Reveal Technology](https://millionrounds.com/company/reveal-technology)** Series B · US **$30M** With 3 others
- **May** **[mPower Technology](https://millionrounds.com/company/mpower-technology)** Series B · US **$21M** With 2 others
- **Apr** **[Pillar Security](https://millionrounds.com/company/pillar-security)** Seed · US **$9.0M** With 2 others
- **Apr** **[Arena](https://millionrounds.com/company/arena)** Series B · US **$30M** With 3 others
- **Mar** **[Distributed Spectrum](https://millionrounds.com/company/distributed-spectrum)** Series A · US **$25M** With 4 others
- **Mar** **Knostic** Seed · IL **$11M** With 4 others
- **Feb** **[Mimic Networks](https://millionrounds.com/company/mimic-networks)** Series A · US **$50M** With 6 others
- **2024** 5 rounds
- **Nov** **[Starfish Space](https://millionrounds.com/company/starfish-space)** Series A · US · TechCrunch **$29M** *Led*
- **May** **[Danti](https://millionrounds.com/company/danti)** Seed · US · Tech Square Ventures **$5.0M** *Led*
- **Apr** **[Vorlon](https://millionrounds.com/company/vorlon)** Series A · US **$16M** With 4 others
- **Mar** **[Unstructured Technologies](https://millionrounds.com/company/unstructured-technologies)** Series B · US **$40M** With 6 others
- **Jan** **[Albedo](https://millionrounds.com/company/albedo)** Series A · US **$35M** With 8 others
- **2023** 6 rounds
- **Dec** **[Xeol](https://millionrounds.com/company/xeol)** Seed · US **$3.2M** With 3 others
- **Jul** **[Creyos](https://millionrounds.com/company/creyos)** Debt · CA **$1.5M** With 2 others
- **Jul** **[Nexla](https://millionrounds.com/company/nexla)** Series A · US **$18M** With 7 others
- **Jun** **[KORE Geosystems](https://millionrounds.com/company/kore-geosystems)** Grant · CA **$761K** With 2 others
- **May** **[Noveon Magnetics](https://millionrounds.com/company/noveon-magnetics)** Series B · US **$75M** With 1 other

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **3 named**

DE **Daniel Edward Holland** Chief Compliance Officer i Form ADV

PM **Philip Merrill Bilden** Principal of the Investment Manager i Filing they signed

RM **Raj M. Shah** Principal of the Investment Manager i Filing they signed

We also hold **23** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$563M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Shield Capital, LLC
- **SEC number:** CRD 317447

Who backs their funds

## 1 LP on record in Shield Capital's funds

- **Funds:** 1

The institutions that put money into its funds, which the firm then invests in companies. Source: an LP list.

- [**Perot Jain** 1 fund](https://millionrounds.com/fund/perot-jain) Fund Vintage Committed Shield Capital - -

## What they claim to have backed

From their own portfolio page (on their website)

**23** of 36 we have independently watched raise

[CODE METAL Verifiable](https://millionrounds.com/company/code-metal)[Elroy Air Expanding](https://millionrounds.com/company/elroy-air)[Hawkeye360 Transforming the](https://millionrounds.com/company/hawkeye-360)[MIMIC Enterprise Ransomware Defense](https://millionrounds.com/company/mimic)[airspace-asi](https://millionrounds.com/company/air-space-intelligence)[albedo](https://millionrounds.com/company/albedo)[apex](https://millionrounds.com/company/apex)[armada](https://millionrounds.com/company/armada)[authentic8](https://millionrounds.com/company/authentic8)[danti](https://millionrounds.com/company/danti)[dedrone](https://millionrounds.com/company/dedrone)[distributed-spectrum](https://millionrounds.com/company/distributed-spectrum)[howso](https://millionrounds.com/company/howso)[mpower](https://millionrounds.com/company/mpower-technology)[nexla](https://millionrounds.com/company/nexla)[overwatch](https://millionrounds.com/company/overwatch)[reveal](https://millionrounds.com/company/reveal-technology)[seasats](https://millionrounds.com/company/seasats)[snorkel](https://millionrounds.com/company/snorkel-ai)[starfish-space](https://millionrounds.com/company/starfish-space)[tenex](https://millionrounds.com/company/tenex-ai)[uforce](https://millionrounds.com/company/uforce)[vorlon](https://millionrounds.com/company/vorlon) acyber arena knit knostic obviant.png logo-obviant omni.png logo-omni pillar rangeview resilience resim unstructured vannevar vector

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$258M**

raised in Jul 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$25M** the round, not its cheque

Led 5 of 47 rounds **11%**

- **Said size:** $100K – $5.0M
- **Sole investor:** Never alone
- **Last cheque:** Oct 2026

Rounds by stage said on their site

- Series A said *14*
- Series B said *12*
- Seed said *8*
- Venture *5*
- Debt *4*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [LD Capital](https://millionrounds.com/fund/xie) 43
- [8VC](https://millionrounds.com/fund/8vc) 6
- [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) 5
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 5
- [Felicis](https://millionrounds.com/fund/felicis-ventures) 5
- [Founders Fund](https://millionrounds.com/fund/founders-fund) 5

**Pitching Shield Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Shield Capital. A count of rooms they were both in, not a relationship either has claimed.

[**LD Capital** VC firm **43** rounds together](https://millionrounds.com/fund/xie)[**8VC** VC firm **6** rounds together](https://millionrounds.com/fund/8vc)[**Alumni Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Andreessen Horowitz** VC firm **5** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Felicis** VC firm **5** rounds together](https://millionrounds.com/fund/felicis-ventures)[**Founders Fund** VC firm **5** rounds together](https://millionrounds.com/fund/founders-fund)[**Ballistic Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/ballistic-ventures)[**Menlo Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/menlo-ventures)[**Point72 Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/point72-ventures)[**Toyota Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/toyota-ventures)[**B Capital** VC firm **2** rounds together](https://millionrounds.com/fund/b-capital)[**Conviction** VC firm **2** rounds together](https://millionrounds.com/fund/conviction)

## Recently backed

The latest companies Shield Capital put money into.

[**Ent** $100M · Jul 2026](https://millionrounds.com/company/ent)[**Reveal Technology** $4.6M · Jul 2026](https://millionrounds.com/company/reveal-technology)[**Westmag** $11M · Jun 2026](https://millionrounds.com/company/westmag)[**Armada** $230M · May 2026](https://millionrounds.com/company/armada)[**Starfish Space** $100M · Apr 2026](https://millionrounds.com/company/starfish-space)[**Seifert Dynamics** $13M · Apr 2026](https://millionrounds.com/company/seifert-dynamics)

## Mentioned on podcasts

Episodes that name Shield Capital in their description, not their title.

- [Sourcery](https://millionrounds.com/podcasts/sourcery) 22 Nov 2024 · 35 min Dan Wright, CEO Armada | Trae Stephens Next Big Bet With [Dan Wright](https://millionrounds.com/person/dan-wright)[Trae Stephens](https://millionrounds.com/person/trae-stephens) Mentions [Founders Fund](https://millionrounds.com/fund/founders-fund)[Shield Capital](https://millionrounds.com/fund/shield-capital)[Jon Runyan](https://millionrounds.com/person/jon-runyan) *+1* Apple PodcastsShow page
- [Village Global Podcast](https://millionrounds.com/podcasts/village-global) 22 Sept 2022 · 40 min Innovating in National Security with Raj Shah With [Raj Shah](https://millionrounds.com/person/raj-shah) Mentions [Shield Capital](https://millionrounds.com/fund/shield-capital) Apple PodcastsShow page

## Quick answers about Shield Capital

### What does Shield Capital invest in?

Shield Capital invests most often at Series A and Series B (60% of the rounds on record), in sectors such as Artificial Intelligence, Autonomy and Cybersecurity.

### How active is Shield Capital?

47 investments on record, 17 of them in the last 12 months, and it led 5. The most recent was in Oct 2026.

### What has Shield Capital invested in recently?

Its most recent investments on record: Watchtower Labs (Seed, Oct 2026), SiFly Aviation (Series A, Aug 2026) and Ent (Seed, Jul 2026).

### How big are Shield Capital's cheques?

The median round it joins is $25M. It says it writes cheques of $100K to $5.0M.

### Does Shield Capital lead rounds?

Sometimes: it led 5 of its 47 investments on record (11%).

### Where does Shield Capital invest?

Most of the companies it backs are in the United States (85%), the United Kingdom (5%) and Canada (5%).

### Is Shield Capital investing now?

Yes: it is actively investing, with 17 investments in the last 12 months.

### Who does Shield Capital invest alongside?

Most often LD Capital (43 rounds together), 8VC (6 rounds together) and Alumni Ventures (5 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=shield-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=shield-capital)