[fakedang]

Used to be a co-founder of a semi-successful aerospace startup.

> On my personal experience in the market I'm currently fundraising for a seed round in an and we're finding it very hard to get any VCs to commit to being lead investors. VCs are super excited/optimistic about our company and willing to immediately jump on board as soon as a term sheet is signed by a lead investor.

For this sector, don't count on VC investment just yet. Your best bet is to get some well-connected angels on board, who can give you connects in the government and leads to other companies. If your technology isn't an entirely novel sector, you're better off participating together with one of these other bigger companies who can actually nail those contracts. Most of these companies have their own venture arms which will invest in your company (and potentially acquire it outright if they can).

VCs were the same 10 years back, they're the same today. They see defence as high risk because of the very low number of government contracts, which are often exclusive, so they're always hesitant to invest. VCs won't add much value to your startup either, and especially not more than what a well-placed angel or board member just retired from government can bring to the table.