One9, an Ottawa-based venture capital fund focused on defence technology, is urging business leaders to press the government to invest more money in defence tech startups and the funds that back them. One9, which Toronto’s Kensington Capital Partners acquired earlier this year, also wants a new public-private organization established to adopt Canada-made defence technology. (The Logic)
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One9, an Ottawa-based venture capital fund focused on defence technology, is urging business leaders to press the government to invest more money in defence tech startups and the funds that back them. One9, which Toronto’s Kensington Capital Partners acquired earlier this year, also wants a new public-private organization established to adopt Canada-made defence technology. (The Logic)
Talking point: Prime Minister Mark Carney promised to immediately add more than $9 billion to the budget to meet Canada’s NATO commitment to spend two per cent of GDP on defence. One9 founder and managing partner Glenn Cowan said the call to action is meant to add to the momentum around strengthening Canada’s national security. He said the private sector can help government identify what defence technologies to invest in and adopt. Even before Carney’s announcement, defence had been a bright spot in Canada’s dismal venture capital landscape, said Cowan. VCs are also piling into the U.S. sector, according to PitchBook, with more than US$1.5 billion invested in defence and aerospace technology companies in the first quarter of 2025.
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