For anyone raising capital in venture, growth, or infrastructure, the landscape is changing. Success hinges on relevance as much as it does on performance.
The data shows that sovereign wealth funds (SWFs) and corporate strategics are becoming more active investors, focusing on areas tied to long-term economic and strategic priorities rather than short-term returns.
For fundraisers and investment sales professionals, understanding where and why this capital is moving is vital.
In this article we will unpack the growing role of sovereign wealth funds as catalysts for innovation and investment in deep tech and defense.
The Strategic Capital Surge Is Real
In August, Porsche and Deutsche Telekom made headlines by anchoring a €500 million defense-tech fund. This marks a change from the usual venture LP mix and highlights how strategic investors are becoming more focused on areas like defense, dual-use technology, and industrial AI.
Simultaneously, Germany unveiled a €100 billion fund for strategic sectors, and Japan Investment Corp. began building a $5.4 billion buyout strategy aimed at bolstering national competitiveness.
If you’re raising a fund or sourcing deals in deep tech, climate, infrastructure, or security, your next LP might not be who you envision.
Fundraising Is Moving from Generalist to Precision
The data shows how Point72’s $400M debut fund is laser-focused on defense, space, and energy… three sectors now considered mission critical by both governments and allocators.
And it’s not just happening in developed markets.
In India, Speciale Invest and others raised oversubscribed funds targeting applied AI, manufacturing, and space underscoring that sector specialization is the new credibility for managers everywhere.
For fundraising professionals, the takeaway is abundantly clear: LPs want precision, not promises. If your pitch isn't aligned with a broader strategic or national narrative, it’s going to be a tougher room.
Infrastructure and Real Assets Are Defense Plays Too
This strategic shift isn’t limited to venture.
Real asset allocators are making moves that reflect national security logic. Brookfield’s $6 billion stake in Duke Energy Florida and CPP Investments’ $1.33 billion commitment to data center infrastructure both signal a renewed interest in sovereign-scale platforms… power, data, and resiliency.
If you're pitching infrastructure, core real estate, or energy transition strategies, it pays to think about how you position them: Are you just seeking yield, or are you solving for resilience?
What This Means for Fundraisers
Let’s get personal for a second.
If you’re in the trenches, whether you’re building decks, managing relationships, or hitting the phones, this environment is both exciting and challenging.
Capital is out there, but it’s choosy. Here’s what we’re seeing work:
- Know the narrative: Defense and strategic tech are no longer niche. They're front and center. If your fund touches these areas, lead with that.
- Know your LPs: Whether it's a SWF, pension, or corporate venture arm, each has a different reason for leaning in. Use data to segment and prioritize.
- Know your timing: This market rewards those who show up early and stay consistent. Being on top of capital activity gives you an edge.
At Dakota, we track this data in real-time so you don’t have to. From who’s allocating, to how fast they’re moving, to what themes they’re backing, Dakota Marketplace helps fundraising and investment sales professionals like you cut through the noise.
If you’re raising for a deep tech, defense, infrastructure, or climate strategy, and you want to get in front of the right allocators before they close the next billion-dollar deal, book a demo of Dakota Marketplace!
