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Reshaping the Defence Industrial Base

For Wholesale Clients Only

Investment
Strategy

Foxglove Defence applies a disciplined investment strategy, backing companies with defence and dual-use applications across three capability pillars:
  • Defence Technologies
  • Critical Supply Systems
  • Advanced Manufacturing
This strategy aims to close the following structural gaps in the market: 
  • Capital Alignment – Redirecting capital toward early-stage ventures to protect critical capabilities through the valley of death.
  • Capability Demand Shift – Backing innovations that move rapidly from lab to field, closing the gap between invention and adoption.
  • National Security Imperative - Ensuring Australia and its allies maintain assured access to critical capabilities that strengthen resilience and operational impact.

For Wholesale Clients Only – Corporate Authorised Representative (CAR No. 1317389) of Boutique Capital Pty Ltd (AFSL 508011). Refer to the website's terms of use for more information -   .

Cutting-edge capabilities - from autonomous systems to cyber defence - that give Australia and its allies a decisive advantage in complex operational environments.

Encompassing not just logistics chains, but the downstream and vertically integrated capabilities essential to resilience for Australia and its allies.

Next-generation manufacturing methods that enable rapid, scalable, and cost-effective production of defence and dual-use technologies onshore.

Market
Opportunity

Graph representation taken from Stockholm International Peace Research Institute (SIPRI) as at 28 April 2025

Defence expenditure has risen sharply over the past decade, reaching an estimated US$2.7 trillion in 2024, a 9.4% increase on 2023 and the highest level recorded since the end of the Second World War.

This structural uplift is expected to persist, with analysts forecasting that global defence spending could exceed US$3 trillion by 2026, underpinned by ongoing geostrategic uncertainty.

Australia’s defence posture is also being reshaped to emphasise sovereign industrial capacity, prioritising technology-based solutions, and alliance integration through AUKUS.

These frameworks are embedding long-term demand signals for capital to flow into capabilities that can be developed domestically while remaining interoperable with trusted allies.

Investment
Decisions

Foxglove Defence applies a disciplined framework of People, Product, and Performance to guide every investment decision.


  • People – We back trusted founders with integrity, vision, and a track record of execution in complex environments.


  • Product – We invest in frontier capabilities with dual-use potential, strategic relevance, and the ability to reshape the Defence Industrial Base.


  • Performance – We seek companies with scalable models, alignment to national security priorities, and the potential to deliver both impact and attractive returns.

Defence
Technologies

At the heart of Foxglove Defence’s mission are Defence Technologies that deliver a decisive operational edge for Australia and its allies.

Artificial intelligence (AI) is central to this frontier. From autonomous platforms that learn and adapt in real time to AI-driven cyber defence that anticipates and neutralises threats before they surface, machine intelligence is transforming every domain of conflict. This extends to next-generation energetics and advanced sensing networks, creating a force that is faster, smarter, and more resilient.

By backing ventures that integrate AI and advanced technologies into military capability, Foxglove Defence ensures that leading-edge solutions remain accessible today and scalable for tomorrow.

Critical
Supply Systems

True capability and deterrence depends on more than platforms and general logistics; it relies on Critical Supply Systems that can withstand disruption and scale under pressure.

Foxglove Defence invests in companies that strengthen these foundations: from semiconductor fabrication and quantum components to predictive analytics safeguarding secure communications and battery supply chains.

Often invisible, these networks form the backbone of national resilience, ensuring Australia and its allies can maintain readiness even when global logistics falter.

Advanced
Manufacturing

The third pillar, Advanced Manufacturing, turns innovation into deployable capability at speed and scale.

AI-enabled design tools accelerate prototyping, while machine-learning-driven additive manufacturing compresses lead times from months to days. Intelligent production lines powered by alternative energy and adaptive robotics not only create flexible sovereign manufacturing capacity, but also deliver higher productivity and scalable output.

Foxglove Defence invests in companies that can produce breakthroughs efficiently, expand to meet demand, and field capabilities where and when they are needed most.

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Foxglove Defence Pty Ltd ACN 687 772 372) (Foxglove Defence) is a corporate authorised representative (CAR) (CAR Number 1317389) of Boutique Capital Pty Ltd ACN 621 697 621 (Boutique Capital) AFSL 508011.

Any information or advice is general advice only and has been prepared by Foxglove Defence for individuals identified as wholesale investors for the purposes of providing a financial product or financial service, under Section 761G or Section 761GA of the Corporations Act 2001 (Cth). Any information or advice given does not take into account your particular objectives, financial situation or needs and before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs. If any advice relates to the acquisition, or possible acquisition, of a particular financial product you should read any relevant Information Memorandum or like instrument.