Dear D3 Investors,
Our D3 Annual General Meeting in London is less than week away!
On October 4th, we will kick start our programming with a dinner to welcome you and let you socialize with the other LPs who, just like you, were the crazy ones to back a team in Ukraine backing founders who dared to defend democracy. The meeting will then take place the next day on the Honorary Artillery Company. Please RSVP here:
We are bringing very special guests from Ukraine to you and, most importantly, commanders from the Armed Forces of Ukraine are coming all the all from the frontline to share the tech they need NOW! We will also have the honor to have some of our D3 portfolio founders on a panel and able to answer all questions you may have. You will drink from the firehose and will leave our meeting an expert in modern day defense tech.
Given that we will be delivering 90 min 😰 of Fund I results and Fund II vision during the meeting, I will make this newsletter short.
Total = 1239 (+61)
We are backing Galadyne, a US liquid propulsion missile company. The paperwork is still in progress. A a full investment memo and round details will be shared on the next newsletter.
Galadyne is building a new class of affordable, high-rate missiles using liquid propulsion rather than supply-constrained solid rocket motors. Its common launch vehicle supports target, precision-strike and eventually missile-defense missions, while its containerized Outpost system stores propellant, rapidly fuels rounds and launches them in the field. Founder Chandler Luzsicza, a former SpaceX propulsion leader, has assembled a 12-person team from SpaceX, Firefly, Ursa Major, Blue Origin and Raytheon. Galadyne targets sub-$200,000 production cost per Striker round and is raising $25M to complete flight qualification, establish low-rate production and begin customer deliveries.
TALOS DEVICES
Registered: US
Round Size: $80M
D3 Investment: $1.5M at $250M post-money