Protego Ventures, an Israeli venture capital fund, has launched with a focus on investing in military technologies.

This fund is the first in Israel to be solely dedicated to the defense tech sector.

The fund raised US$70 million in two weeks and now targets US$200 million due to strong interest, especially from United States institutional investors.

Protego Ventures, co-founded by entrepreneurs Lital Leshem and Lee Moser, made its initial US$5 million investment in drone company Xtend.