The investment opportunity in national security.

With uncertainties ever-present, the U.S. and Australia will continue to forge ever stronger relations. Businesses that best manage and take advantage of this will be the most successful.

As our respective national security capabilities increase, and interoperability and related technologies are harnessed in commercial industries; the opportunities for businesses on both sides of the Pacific Ocean will increase significantly.

The manner in which our countries respond to changing geo-political and environmental challenges in the Indo-Pacific and beyond will shape the 21st century. Successive Australian Governments and U.S. Administrations have recognized the importance of science and innovation in the National Security sector.

With a focus on dual-use businesses and technologies, particularly in the defense, cyber, intelligence, space and related national security industries, 1941 will help Australian and U.S. businesses harness the world-leading expertise and resources required to grow as they deliver innovative technologies and products needed to address the broad spectrum of national security challenges now and into the future.


1941 is a joint initiative of Bondi Partners and Ellerston Capital. The Fund’s objective is to identify, invest in and help grow the next generation of Australian and U.S. success stories – focused on national security dual-use businesses and technologies – across both sides of the Pacific Ocean.

1941 focuses on early-stage private businesses and select investments in later-stage businesses and listed growth companies, particularly in the defence, intelligence, cyber and space industries, and other dual-use businesses with a commercial application to the national security sector.

National security is a cornerstone of the Australia-U.S. relationship. Ever since Australian Prime Minister John Curtin turned towards the U.S. for defence support in 1941, the relationship between Australia and the U.S. has continued to grow. In 2021, 80 years after this momentous decision, we have seen the importance of the alliance between Australia and the U.S. prosper with the formation of AUKUS.




LeoLabs has the world’s largest and most comprehensive commercial catalog of objects in low Earth orbit. It is transforming the way satellite operators, commercial enterprises and federal agencies across the world launch and track missions in low Earth orbit.

Through its vertically integrated technology system, Vertex™, and its six patented radars globally, LeoLabs delivers the information needed to succeed in today’s space race. With unmatched LEO coverage, real-time tracking and powerful insights, companies and governments rely on LeoLabs to execute a wide array of operations in space.

Fleet Space Technologies

Fleet Space Technologies is a growing Australian dual use space company. Its nano-satellite system in space connects to ground sensors that can scan the earth for the most likely spots for lithium and rare earth minerals.

Fleet has a growing blue chip customer base, including Rio Tinto, Barrick Gold, Iluka, AngloGold and Core Lithium. In 2023, the company also won an Australian Defence contract to demonstrate a low earth orbit satellite communication system with focus on tactical voice and data transmission.

Internet 2.0

Internet 2.0 is an early stage cyber-security company providing military-grade cyber protection, data capture, and consulting services to deal with cyber threats.

Well regarded by the Australian and U.S. governments, we believe that with 1941’s support Internet 2.0 will be able to successfully navigate the cyber market and commercialize its solutions to continue its growth path.

With You With Me

Founded by an ex-military veteran, WithYouWithMe started as a talent incubation program to develop and transition military members back to the industry and has now evolved to an end-to-end enterprise software that enables organisations to discover the potential in people, train digital skills, deploy the right talent and grow digital capability.

With the chronic shortage of tech skills globally, and the ability to retrain military veterans for trusted national security roles, 1941 believes WYWM can benefit naturally from growing government and national security related staffing needs.

Introducing 1941.

Bondi Partners Senior Advisor and former Major General Gus McLachlan launches Bondi Partners and Ellerston Capital’s 1941 Fund.

Contact us.

The investment opportunity in national security. For any inquiries please contact the 1941 team.