“Defense tech isn’t investable.” – Lazy LPs & Mainstream VCs

“Hold my beer.” – Me (Silent Ventures)

Jackson Moses
Founder & Managing Partner
Silent Ventures
…in a LinkedIn post sharing Voyager Technologies’ IPO performance

“All exceptional ideas are contrarian until they’re not,” Dallas-based VC Jackson Moses observed on LinkedIn today—and Voyager Technologies just proved his point.

The space and defense company, listed among Silent Ventures’ “Select Prior Investments,” surged 125% in its NYSE debut, opening at $69.75 after pricing its IPO at $31 per share. Denver-based Voyager Technologies raised $382.8 million by selling nearly 12.4 million shares in an upsized offering, according to Reuters.

Jackson Moses

Moses, founder and managing partner of Silent Ventures, was named to Business Insider’s Seed 100: The Best Early-Stage Investors of 2025 list in May. The publication called him “a prolific defense tech investor,” highlighting buzzy portfolio companies like autonomous maritime firm Saronic Technologies and detection startup CHAOS.

The serial entrepreneur, who previously founded MainStreet (acquired by Employer.com) and Spectrum AI (acquired by ActiveFence), launched Silent Ventures in late 2022 as “an early stage venture firm that invests in exceptional founders building unrivaled aerospace, defense, and national security companies,” per the firm’s website. Based in Dallas, the firm’s other notable investments include Anduril, Hadrian, Armada, Gallatin AI, Firehawk, Firestorm, UNION — and Voyager.

Founded in 2019, Voyager provides mission-critical space and defense technology and had a total backlog of $179.2 million as of March 31, Reuters reported. In 2024, Lockheed Martin selected the company to supply propulsion and optical guidance systems for missile defense, and NASA awarded it $217.5 million to build the Starlab space station in partnership with Airbus, Mitsubishi, and Palantir.

Voyager Technologies reached a valuation of $3.8 billion after its shares more than doubled in their market debut, Reuters reported.

Moses’ defense-focused strategy appears to be paying off. As he added on LinkedIn: “Very proud of the Voyager Technologies team for disproving the haters.”

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