In this episode of Nothing Ventured, host Aarish Shah is joined by Ed Ebbern and Will McManners, founding partners of MD1 Ventures, Europe's first dedicated national security VC fund. With backgrounds in special forces and defense innovation, they explore the evolving adversarial landscape and the importance of asking better questions in an age of overwhelming data. The discussion highlights the necessity of viewing defense through a preventative lens to avoid conflict, the role of capital access in fostering success, and the vital contributions of small to medium enterprises in developing technological solutions. Tune in for insights on geopolitical narratives and the collective endeavor of security and vigilance in today’s world. Timestamps: 00:00:00 - Introduction to MD1 Ventures 00:02:55 - Early Years in Defense 00:03:34 - Shifts in Military Engagement 00:04:38 - Adversarial Environments and Innovation 00:08:09 - Understanding Terrorism Trends 00:10:00 - Founding Relationship Between Will and Ed 00:11:06 - Diversity in Defense Investment 00:12:39 - Government Collaboration Challenges 00:14:59 - Attracting Talent to Government Roles 00:17:03 - The Role of Private Sector in Defense 00:19:23 - Current Security Zeitgeist 00:22:04 - Importance of Supply Chain Security 00:25:11 - Long-Term Investment Strategies 00:27:49 - Addressing Capital Gaps in the UK 00:30:42 - The Role of SMEs in National Security 00:32:07 - Vulnerabilities in Subsea Infrastructure 00:35:12 - The Impact of Non-State Actors 00:38:01 - Conclusion and Future Considerations Find Ed Ebbern and Will McManners online at: LinkedIn: https://www.linkedin.com/in/william-mcmanners/ LinkedIn: https://www.linkedin.com/in/edwardebbern/ / MD One: https://md-one.com This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe