Former CIA Operative's Fund Eyes Baltic Defense Tech Market

James Acuna, the CEO of "Ondas Capital" and a former operative of the U.S. Central Intelligence Agency (CIA), is bringing significant investment and expertise in drone technology to the Baltic region. With a substantial $150 million capital fund, "Ondas Capital" is strategically targeting defense technologies, with a particular emphasis on unmanned systems. The fund's interest in the Baltics is not arbitrary; Acuna notes a "positive reaction" in Lithuania and now aims for deeper collaboration with Latvian partners, viewing the region as a prime market for expansion.

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All depends on what you want to do with this drone. I would like to mention one Latvian company – "Origin Robotics", which produces interceptors – drones designed to destroy other drones.

Acuna describes the fund's recent establishment in October 2025, initially focusing on Ukraine and leveraging insights gained from the conflict. The Baltic states, particularly Lithuania and Latvia, have emerged as key areas of interest. Acuna humorously recounts the initial approach, noting that while Lithuanians were quick to engage, Latvians were perceived as "a bit slow," prompting a direct visit to foster partnerships. Despite potential office openings in Lithuania and Latvia, the fund's headquarters will remain in Tallinn, Estonia.

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Interceptor drones are an important type of drone. There are other companies, for example, "Atlas", which produce more traditional drones. "Edge Autonomy", as far as I know, is also based in Latvia.

When discussing the specific drone technologies needed in the Baltics, Acuna stresses that there is no one-size-fits-all solution. The requirements depend heavily on the defense sector's objectives. He points to Latvian company "Origin Robotics" and Ukrainian firms like "Sting" and "Octopus" as examples of manufacturers producing "interceptor drones" designed to neutralize other drones. Acuna emphasizes that these interceptors are crucial components of an integrated defense system, especially given the increasing frequency of drone incursions near border regions. However, he cautions that interceptors are only one part of a larger system that requires detection, identification, engagement, and destruction capabilities. The ultimate choice between offensive "sword" technologies and defensive "shield" technologies, Acuna suggests, lies in the strategic priorities of each nation, with robotic capabilities, particularly fast interceptor drones, being a top-tier solution.

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Are you trying to destroy the target, or defend yourself from destruction? A shield or a sword? Drones can be both. The strength lies in robotics. Fast interceptors are one of the best solutions. I would include them in the world's top three.