Built around the defence investment decision chain.
Fulcrum is structured so that an investment can be examined through multiple relevant lenses: capital, operating execution, policy and national security, procurement, industrial adoption and eventual realisation.
Team architecture
Integrated across the decision chain.
The team combines experience developed across private equity, venture investment, company building, government, defence, procurement, technology and strategic transactions across European and allied markets.
Investment & Underwriting
Private equity, venture investment, transactions, governance, portfolio development, capital allocation and realisation.
Operating & Scaling
Building, governing and scaling technology businesses across international, regulated and procurement-led markets.
Policy & Security
Government, defence, national security, diplomacy, geopolitical risk and institutional decision-making.
Industrial & Procurement
Defence primes, capability requirements, acquisition programmes, end users, industrial partnerships and commercial deployment.
This combination allows Fulcrum to interrogate both the investment case and the operating environment in which a company must ultimately succeed.
Partners
Martin Scott
Founding Partner
Fund Manager
Martin is an investor and technologist with a background spanning private equity, consulting and deep tech. He is Chair of Netwatch Group and a former Partner at The Riverside Company, where he led European investments in secure software, industrial systems and data infrastructure, often in sectors with strategic relevance to national security and critical services. Earlier he was a senior partner at KPMG, leading operations and strategy within Transaction Services, and a consultant at McKinsey & Company advising on technology-driven transformation with a focus on defence.
A former Marie Curie Fellow, Martin holds a PhD in Machine Learning from the University of Cambridge, and brings a deep understanding of scalable, resilient technologies at the intersection of commercial opportunity and national importance.
John is a founder and operator focused on platforms and operational systems for high-trust, complex environments. He was part of the founding team behind a pan-European, award-winning Data & AI company serving enterprise clients, and served as GM North America for CAMMS, a GRC platform supporting public and private sector organisations. He founded World Air Operations, a provider of government logistics services across Europe, the Gulf and Asia, and was a global sales leader at IBS, a core infrastructure provider to aviation, logistics and energy.
John has worked across APAC, EMEA and North America, advising funds, founders and public investors on strategy, growth and resilience in critical industries. John is also developing Armuir, an incubation and acceleration platform focused on defence, security and dual-use technology.
Simon is a senior political leader and strategic advisor with extensive experience in foreign affairs, defence and international diplomacy. He held multiple cabinet roles in the Irish government, including Tánaiste, Minister for Foreign Affairs and Minister for Defence, and played a central role in Ireland's participation on the UN Security Council and in EU-level negotiations. He supports EY Ireland's Geopolitical Strategy team, advising corporates and institutions on political risk, global regulation and strategic resilience.
He serves as a senior advisor to EMIR in the UAE, supporting public–private dialogue across the Gulf region. His career bridges government, business and international affairs.
Dmytro Shymkiv
Founding Partner
Lead, Eastern Europe
Dmytro is an executive, investor and policy leader with over 20 years of experience spanning technology, telecoms, pharmaceuticals, defence technology and government. He led Microsoft Ukraine as CEO, drove national reforms as Deputy Head of Ukraine's Presidential Administration, and served as Executive Chairman of Darnytsia Group, the country's largest pharmaceutical manufacturer. He strengthened digital inclusion and resilience during wartime and oversaw Kyivstar, Ukraine's largest telecoms operator, as a non-executive board member. He is an active investor in UAV and autonomous systems through AeroDrone.
Board & Governance
David Roche
Chairman
Founding Partner
David is a technology executive with a career spanning online travel, fintech and digital infrastructure. Best known as the former CEO of Hotels.com and President at Expedia, he helped scale Expedia's global platform to over 250,000 partners and billions in annual bookings. He later joined GoHenry as Chairman, a fintech focused on financial literacy and digital security for young people. His experience leading high-scale platforms in regulated sectors informs Fulcrum's view of trusted systems, international expansion and mission-critical digital infrastructure.
Oliver Tattan
Board
Fund governance, EU policy, portfolio mentor
Oliver is a founder, investor and experienced leader known for scaling ventures at the intersection of technology, security and health. He co-founded Daon, a global leader in biometric identity systems serving national security and digital identity markets. He served as CEO of VHI, Ireland's largest health insurer, founded and scaled Vivas Health and GloHealth (acquired by Irish Life and Aviva), and launched Level Health with Aviva. Oliver also served as CEO of Enterprise Ireland, supporting the international growth of Irish technology companies, and was named EY Entrepreneur of the Year.
Venture & Operating Partners
Philip Rowland
Partner, Canada
Deal sourcing, due diligence, portfolio mentor
Philip is an advisor and operator with expertise in defence, aerospace and private equity. He was a Partner at McKinsey & Company, where he led the UK Accelerator and contributed to the Defence and Aerospace practice, and has served as an Operating Partner at both TDR Capital and Riverside. He brings extensive defence-sector insight through his role on the advisory board of the Royal College of Defence Studies in London and membership of the Royal United Services Institute in London and Vancouver, as well as Chatham House.
Scott Moore
Partner, US
US deal sourcing, NATO network
Rear Admiral (Ret.) Scott Moore is Founder and CEO of Karakoram Group International, a global risk-management and security consulting firm supporting corporations, governments and NGOs in complex environments. A former US Navy SEAL Rear Admiral with over 30 years in Naval Special Warfare, he has led operations across Europe, the Middle East, Asia, Africa and South America.
With more than 40 years in risk management, he has commanded a 1,500-person Joint Task Force in Afghanistan. He served as Director of Counterterrorism on the National Security Staff at the White House, as Counterterrorism Director on the Joint Staff at the Pentagon, and as Deputy Commander for Operations in Pakistan coordinating NATO missions. He also commanded the Naval Special Warfare Development Group.
Arthur Alexion
Venture Partner, US & UK
Operating partner, growth execution
Arthur is a founder and operator at the intersection of defence, deep tech and growth-stage execution. He is CEO of Bohemia and previously founded GDH, bringing it through to IPO, giving him hands-on experience building and scaling businesses through inflection points. Arthur was an Operating Partner at Octopus Ventures, supporting founders on strategy, commercial acceleration and capital formation. Earlier he advised defence and industrial clients in corporate finance and in the Defence Practice at McKinsey, giving him a grounding in procurement-led markets, strategic transactions and complex stakeholder environments.
Tess Butler
Venture Partner, UK
Defence simulation, deal origination
Tess is a defence-technology leader and dealmaker with nearly 25 years in military modelling, simulation, wargaming and training. As founder of Ruddy Nice and DSET she built and oversees a defence-games studio delivering industry-grade hybrid simulation solutions. Under her leadership, Ruddy Nice originates and executes strategic partnerships, business development and events for defence and aerospace clients, including a decade-long DSET partnership with Lockheed Martin, and launched CPD-accredited simulation training with Oxford Brookes University. A wargaming PhD candidate and guest lecturer, she works across industry, academia and government.
Pete Morrison
Venture Partner, US
Deal sourcing, due diligence, operating partner
Pete is a founder and operator in defence simulation who co-founded and led Bohemia Interactive Simulations as CEO, scaling the company into a leading military-training software provider and exiting to BAE Systems in 2022. He then served as Chief Commercial Officer and senior product lead within BAE, applying his technical education and former Australian Army signals experience to shape user-centred product and commercial strategy. He is a leading voice on military simulation and the adoption of commercial technologies for scalable, high-fidelity training used by NATO and partner nations.
Mark Dzulko
Venture Partner, DACH
DACH deal sourcing, operating partner
Mark is a leader in defence simulation and immersive training with deep knowledge of the DACH market. He served as CTO and Director at Bohemia Interactive Simulations and BAE Systems, helping translate game-industry technology into mission-grade training tools and scaling those products for defence customers. Based in Munich, he combines technical leadership with extensive regional networks, advising on product strategy, customer engagement and the integration of simulation into national training programmes across Europe.
Get in touch with Fulcrum.
For general and team enquiries, write to info@fulcap.eu.
