$23.4B in ITB obligations, $0 in VC credit

A 5x multiplier nobody has used in a decade: turning ITB obligations into growth capital

Oct 13

12

1

Canada has the money. Who owns what it buys?

18% of defence sales go to Canadian-controlled firms, Canada Rocket Co. bets $30M on sovereign launch, and Beijing takes a yacht maker's board without a…

Oct 6

20

1

1

September 2026

The Arsenal of Democracy Is Waiting on a Screw

The Walrus asks if Canada can take delivery, Sentinel R&D sells direct to Kyiv, and CIBC sits down with COVE

Sep 29

8

"AI allows you to get to a bad idea faster"

A chatbot invented a nuclear cargo and nearly started a war, while allies are told to wait five years for missiles.

Sep 22

11

2

Ottawa's First Drone Money, and a 100-Year Promise to Kyiv

CIBC, BMO and Scotiabank all made defence moves this week

Sep 15

15

Canada gets first photonic quantum computer

Zelenskyy to Canada, and first DDI contracts imminent. Plus: a Nova Scotia rocket reaches orbit, and MDA's $1B supplier ambition

Sep 8

16

1

Valued at 32x, acquired at 3x

Xanadu lands $195M, TKMS moves in eight months, and DIA head goes MIA

Sep 1

11

August 2026

$533 million bought zero artillery shells

Castelion's $1B round, and a Texas ammo plant that made nothing

Aug 25

16

Ottawa wants 2M drones per year

It will also buy the first deep striker abroad

Aug 18

14

1

1

Shadowing Chinese icebreakers

Ottawa's Arctic satellite bet, CellCore's flax-to-firepower supply chain, and why Palmer Luckey's new bank just raised more in a week than Canadian…

Aug 11

6

1

Buy Canadian receipts are in

70% of Buy Canadian contracts go to foreign-owned subsidiaries, Colby calls our Plan B a waste of time, and the primes just became VCs

Aug 4

10

July 2026

🛡️ ONE9: The Firm That Built Canada’s Defence Venture Market

Before defence tech was cool, before the money showed up, before Ottawa said the word “sovereignty” out loud, there was ONE9.

Jul 28

14

2