Mikolaj Firlej co-founded Expedition and led the Fund II raise, navigating institutional restrictions on defense investing. He directs research on European capability gaps (interviewing 50+ stakeholders), portfolio support for government go-to-market, and the firm's thesis on sovereign supply chains and the two-wave defense tech investment cycle.
no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY
Orca (Croatia) is a fastest-growing European defense company that meets strict European sovereignty requirements by avoiding Chinese components, making it fieldable for European ministries of defense unlike Ukrainian battlefield solutions.
Helsing is identified as a leading German defense tech company that could become a 'novel prime' contractor competing at the European level, reflecting the trend of countries developing domestic champions.
Stark is identified as a leading German defense tech company that could become a 'novel prime' contractor, part of the trend of European countries developing domestic defense champions.