The evidence behind the trends.

Jun 23, 2026

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PitchBook News

Twenty-four years of growth in the private markets led to a $1 trillion IPO.

🌠 Twenty-four years of growth in the private markets led to a $1 trillion IPO. SpaceX's ability to scale before listing on Nasdaq shows that investors without both public and private exposure risk missing out on returns. Read more in Morningstar's recent SpaceX analysis. • for The Credit Pitch for weekly news and analysis of the US leveraged loan and private credit markets.

Jun 23, 2026

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The Icebreaker

Canada's defence business census results

🎯 Three-Shot Burst Canada doesn’t have a defence SME problem. It has a conversion problem. That’s the headline finding from the first-ever national survey of Canadian defence SMEs — conducted by The Icebreaker and BDC, released last week to coverage in the Globe and Mail, BetaKit, and Financial Post. Six hundred and forty-two business owners. Proprietary data. The most comprehensive picture of Canada’s defence SME ecosystem ever assembled. The findings are not comfortable: Canada’s defence sector is splitting into three speeds. A small group of defence-heavy firms — companies deriving the majority of their revenue from military contracts — are already operating at or near full capacity. Twenty-one percent are producing flat-out. Thirty percent face significant labour shortages. Seventy-four percent need $1M+ in financing. Thirty-nine percent need $5M+. They are sprinting and they are running out of road. The middle cohort — defence-light SMEs — sees the opportunity, but is moving…

Jun 23, 2026

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DefenseScoop

Army taps Anduril as lead for NGC2 common data layer baseline as service sets ‘groundwork for rapid scaling’

Army taps Anduril as lead for NGC2 common data layer baseline as service sets ‘groundwork for rapid scaling’

Jun 23, 2026

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Breaking Defense Europe

Eurosatory offerings reflect robotics lessons from Ukraine

A weekly roundup of top developments from across the region. Breaking Defense: Europe TALIN: Highly accurate, shock-stabilized position inertial navigation system Presented by Honeywell Aerospace Talin Honeywell600x300 TALIN (Tactical Advanced Land Inertial Navigator) systems are proven, battle-tested with more than 20,000 systems shipped to date for use on land and at sea across 60 commercial and military platforms. Learn more. War robots invade Eurosatory 2026 as interest grows in UGVs after use in Ukraine Ukrainian firms, especially, showed off combat-proven unmanned ground vehicles, but at least one experts isn't convinced of a wider use-case, yet. Hegseth announces six-month review of US force posture in Europe Hegseth called NATO’s response to Iran “shameful” in his comments, while also railing against social issues in Europe. The sights of Eurosatory 2026, from the show floor Check out a selection of photos from one of Europe's biggest defense conferences. Rheinmetall, Vantor…

Jun 22, 2026

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Vanguard Newsletter

Canada's defence boom is splitting SMEs into three speeds

Canada's defence boom is splitting SMEs into three speeds Canada’s defence boom is creating a three-speed SME market: established suppliers are running near capacity, while prospective entrants face financing and compliance barriers. A new BDC study maps the divide and asks whether enough firms will be ready to turn rising defence spending into domestic capacity. First Juno training helicopter delivered to RCAF Airbus has delivered the first CT-153 Juno (H135) helicopter to the Royal Canadian Air Force under the Future Aircrew Training program. The twin-engine trainer is completed and customized at Airbus' Fort Erie, Ontario facility, and will be based at Southport, Manitoba. It is the first of 19 Junos due by 2028, and the second aircraft type delivered under the 25-year, $11.2-billion FAcT contract. VAdm Dan Charlebois takes command of Royal Canadian Navy VAdm Dan Charlebois has taken command of the Royal Canadian Navy, with people, fleet renewal and readiness at the centre of his…

Jun 22, 2026

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Canadian Cyber in Context

Canadian News

The Canadian Cyber News Rewire is a survey of Canadian cyber and adjacent news stories from this past week (or recently). Questions or business inquiries: Share Editor Notes: I have two new articles out with the Canadian Global Affairs Institute: Following the Digital Snail’s Trail: The Short History of Canadian Armed Forces Cyber Operations Everything You Should Know About CAF Cyber Command I have received a hefty round of feedback on my PhD thesis, so I may be a tad quiet outside the weekly Rewires. Canadian News Government of Canada Strengthens Cyber Security and Critical Infrastructure with Royal Assent of Bill C‑8 Bill C-8 receives royal assent and becomes law. Ford government scolded agency over cyber attack. Docs show it knew a month earlier I do not think it’s controversial to state that all levels of government in Canada do not understand cybersecurity. Canadian governments at the federal, provincial, and local levels have yet to adopt governance frameworks to ensure that…

Jun 22, 2026

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DefenseScoop

Air Force picks Anduril, General Atomics to build first operational CCA drones

Air Force picks Anduril, General Atomics to build first operational CCA drones General Atomics and Anduril have received production contracts from the Air Force for Increment 1 of the Collaborative Combat Aircraft (CCA) program. Mikayla Easley has this one.

Jun 22, 2026

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TLDR IT

Zero Trust Meets AI Sprawl 🔐, Shadow Apps Turn Into Network Risk ⚠️, Big IT Bets On Agent Control 🤖

Cisco shared lessons from its internal Security Service Edge deployment, where it moved from a fragmented, hardware-heavy VPN/security infrastructure TLDR IT 2026-06-22 CUT PRINT-RELATED HELPDESK TICKETS BY UP TO 95% (SPONSOR) Hate your print servers? Ditch them. PrinterLogic saves IT teams time and resources by centralizing print management in one platform, saving you from outdated infrastructure like print servers. SysAdmins love PrinterLogic (just ask Reddit) because it keeps print management simple and secure and reduces print-related helpdesk tickets by up to 95%. Bosses love it because of things like “ROI.” There's something for everyone when you eliminate print servers with PrinterLogic 🚀 NEWS & TRENDS ACCENTURE TO BUY DRAGOS, RUNZERO, AND NETRISE IN $4.2 BILLION CYBERSECURITY DEAL (4 MINUTE READ) Accenture will acquire a majority stake in Dragos and buy 100% of runZero and NetRise in a combined cybersecurity deal valued at about $4.2B. The goal is to expand end-to-end…

Jun 22, 2026

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Breaking Defense

Canada opens negotiations on M-346 trainer aircraft The news comes as Canada continued to debate whether to finalize a large procurement of F-35 Joint Strike Fighter, or add in a procurement of Saab-made Gripen jets

Canada opens negotiations on M-346 trainer aircraft The news comes as Canada continued to debate whether to finalize a large procurement of F-35 Joint Strike Fighter, or add in a procurement of Saab-made Gripen jets

Jun 19, 2026

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PitchBook News

Castelion

Hypersonic missile startup Castelion is looking to raise a new round at a $12 billion valuation, The Information reported. Israel-based Dream, a cybersecurity startup, raised a $260 million round led by Bicycle Capital and Group 11 at a $3 billion valuation. Physical AI data startup XDOF emerged from stealth with $70 million from investors including Thrive Capital, Spark Capital and Andreessen Horowitz. Seattle-based Gradial, the developer of enterprise marketing AI agents, raised a $65 million Series C led by Insight Partners. The round values the startup at $675 million, Axios reported. Conduct, a London-based developer of an AI operating system for enterprise software, raised a $60 million Series A led by Index Ventures and Iconiq. San Francisco-based Verse, the developer of software to manage energy resources for data centers, secured a $54 million Series B led by Bessemer Venture Partners. Medicare navigation platform developer Connie Health received a $40 million Series B led…

Jun 18, 2026

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PitchBook News

it's helping several investors deepen their existing ties to the "Muskonomy."

Map: The Cursor backers new to Elon Musk's orbit—and those who can't get enough By Jacob Robbins, Technology Reporter When Cursor raised an $8 million seed round in October 2023, headlines highlighted one of its big-name backers: OpenAI's Startup Fund. And now with SpaceX's $60 billion all-stock acquisition of Cursor, a whole new group of investors has been launched into Elon Musk's orbit—and it includes one of xAI's chief competitors and a target of Musk's ire. While the deal brings a slew of newcomers into the fold, it's helping several investors deepen their existing ties to the "Muskonomy." Firms like Andreessen Horowitz and Coatue invested in SpaceX, xAI and Cursor before the acquisition and are now tripling down on the Musk ecosystem. In the case of Andreessen Horowitz, it's quadrupling down after it also bet on Musk's private takeover of the social media company X, which merged with xAI in March 2025 (which merged with SpaceX about a year later). Our interactive map, based on…

Jun 2, 2026

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Breaking Defense Asia / Pacific

The Asia/Pacific Defense Dispatch

This week's news and analysis from Breaking Defense. Breaking Defense Breaking Defense - Defense in Asia/Pacific Breaking Defense - Defense in Asia/Pacific Sovereign solution. Connecting allies. Presented by Northrop Grumman 25~multi-ibcs_23~600x300_27~display_30~ ~static_32~v3_33~IBCS IBCS is a force multiplier that enhances national defense by integrating existing assets, boosting interoperability, and improving decision-making, enabling nations to achieve greater operational effectiveness. Learn more. Malaysian defense minister publicly slams Norway for cancelled missile sale “Norway’s action has created more than just a bilateral contract dispute. It raises a deeply troubling question about whether international agreement and strategic partnership can still be trusted at all,” Malaysian Defense Minister Mohamed Khaled Nordin said at the Shangri La Dialogue in Singapore. Reintroduce nuclear weapons to the Pacific to reduce the chances of war with China By reintroducing US theater…

Jun 2, 2026

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The Icebreaker

US Out of Tomahawks Until 2030

🎯 Three-Shot Burst Silicon Valley Defense Group (SVDG) released its annual NatSec100, an annual pulse check on the overall health of the emerging defence technology ecosystem in the US. The top 100 received $4.3B in US federal obligations in FY25 (+22% YoY); $16B lifetime (+36%). 38 new entrants made this year’s list. Tectonic reports that SVDG teamed up with J.P. Morgan this year, with a big focus not only on helping Silicon Valley connect with defence, but also on helping institutional capital better understand how to deploy later-stage capital into these defence tech companies. Pete Modigliani at Defense Tech and Acquisition writes that this year’s report captured six shifts in the defence tech landscape: Washington Rewired the Rules. Executive orders, the Acquisition Transformation Strategy, DRPMs, OSC, EDU, Reconciliation, and the Innovation Adoption Kit. The Battlefield Imperative. Lessons from Ukraine and Iran resulted in increase in AI and autonomy experimentation to central…

Jun 2, 2026

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DefenseScoop

AUKUS allies launch new undersea drone project

AUKUS allies launch new undersea drone project The US, UK and Australia have launched a new trilateral “signature project” to enhance their UUV arsenals. Jon Harper reports.

Jun 2, 2026

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Breaking Defense Europe

From Gripens to GlobalEye to Polish drones, Euro firms field diversifying demand

A weekly roundup of top developments from across the region. Breaking Defense: Europe TALIN: Highly accurate, shock-stabilized position inertial navigation system Presented by Honeywell Aerospace Talin Honeywell600x300 TALIN (Tactical Advanced Land Inertial Navigator) systems are proven, battle-tested with more than 20,000 systems shipped to date for use on land and at sea across 60 commercial and military platforms. Learn more. Eurosatory ban on Israeli officials may hurt smaller firms, but majors still going to show Both Elbit Systems and Rafael plan to attend Eurosatory, despite a new ban on Israeli government officials attending. Ukraine to acquire up to 20 Gripen fighter jets, on track to receive batch of older models In a statement announcing both moves, Stockholm said that Kyiv "plans to allocate" €2.5 billion ($2.9 billion) from the European Union's Ukraine Support Loan to fund the package for the more modern Gripen combat aircraft. After delivery of first tanks to Norway,…