The Briefing Room
Inside The Briefing Room, an Australian venture capital podcast dedicated to Defence, Sovereign Capability and National Security Innovation.
Hosted by Peta Ellis, General Manager of Beaten Zone Venture Partners, and other members of the BZV team, each episode takes you behind the scenes with founders, veterans, investors, and operators who are key players in the Global Defence ecosystem that is building and supporting the future of Defence Innovation and Sovereign capability.
From battlefield innovation to boardroom execution, we uncover how ideas move from concept to capability, and what it really takes to build and fund critical technology in one of the world’s most complex sectors.
- Real conversations with Defence founders and venture investors
- Insights on early-stage capital, capability, and collaboration
- Stories from Australia’s growing sovereign tech ecosystem
This is not theory. It’s the reality of building companies that keep Australia in the fight.
Subscribe to stay briefed.
Beaten Zone Venture Partners | beatenzone.vc
GENERAL PRODUCT ADVICE/MARKETING DISCLAIMER (Fund)
Beaten Zone Investment Manager Pty Ltd ACN 667 064 208 and Beaten Zone Management Partnership 1, LP (The Beaten Zone Group) are corporate authorised representative’s (CAR) (CAR Numbers 1303229 and 1303953) of Boutique Capital Pty Ltd ACN 621 697 621 (Boutique Capital) AFSL 508011.
This document contains general advice only and has been prepared by The Beaten Zone Group for individuals identified as wholesale investors for the purposes of providing a financial product or financial service, under Section 761G or Section 761GA of the Corporations Act 2001 (Cth).
The information herein is presented in summary form and is therefore subject to qualification and further explanation. The information in this document is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking into account personal investment objectives, financial circumstances or particular needs. Recipients of this document are advised to consult their own professional advisers about legal, tax, financial or other matters relevant to the suitability of this information.
The investment summarised in this document is subject to known and unknown risks, some of which are beyond the control of The Beaten Zone Group and their directors, employees, advisers or agents. The Beaten Zone Group does not guarantee any particular rate of return or the performance of the Fund, nor does The Beaten Zone Group and its directors personally guarantee the repayment of capital or any particular tax treatment. Past performance is not indicative of future performance.
The materials contained herein represent a general summary of The Beaten Zone Group’s current portfolio construction approach. The Beaten Zone Group is not constrained with respect to any investment decision making methodologies and may vary from them materially at its sole discretion and without prior notice to investors. Depending on market conditions and trends, The Beaten Zone Group may pursue other objectives or strategies considered appropriate and in the best interest of portfolio performance.
There are risks involved in investing in the The Beaten Zone Group’s strategy. All investments carry some level of risk, and there is typically a direct relationship between risk and return. We describe what steps we take to mitigate risk (where possible) in the Fund’s Information Memorandum. It is important to note that despite taking such steps, The Beaten Zone Group cannot mitigate risk completely.
This document was prepared as a private communication to clients and is not intended for public circulation or publication or for the use of any third party, without the approval of The Beaten Zone Group. Whilst this document is based on information from sources which The Beaten Zone Group considers reliable, its accuracy and completeness cannot be guaranteed. Data is not necessarily audited or independently verified. Any opinions reflect The Beaten Zone Group’s judgment at this date and are subject to change. The Beaten Zone Group has no obligation to provide revised assessments in the event of changed circumstances. To the extent permitted by law, Boutique Capital, The Beaten Zone Group and their directors and employees do not accept any liability for the results of any actions taken or not taken on the basis of information in this report, or for any negligent misstatements, errors or omissions.
This document is for informational purposes only and is not a solicitation for units in the Fund. Application for units in the Fund can only be made via the Fund’s Information Memorandum and Application Form.
Episodes
8 hours ago
8 hours ago
46 min
Dr Craig Cummings, Co-Founder and General Partner at Moonshots Capital, joins Peta Ellis and Sean Singleton for a conversation spanning 30 years of defence, academia, entrepreneurship and venture capital.
Craig served 17 years as a U.S. Army Intelligence Officer, deployed to Afghanistan with JSOC and earned the Bronze Star, and co-founded two companies, including RideScout, which was acquired by Mercedes. He then built Moonshots Capital into one of the most active dual-use VC firms in the United States.
In this episode: why Austin became the centre of gravity for U.S. defence innovation, what changed when Army Futures Command moved into Capital Factory, why Craig looks for contracting expertise in every team he backs, and why the entire defence innovation ecosystem is still only at Series A.
We also cover Skill Bridge, DARPA accelerators, veteran-to-venture pathways, and what it would take to build a Capital Factory-style ecosystem in Australia.
**This episode was recorded before the passing of Joshua Baer, founder of Capital Factory, who is mentioned throughout our conversation with Craig Cummings. Josh built Capital Factory into one of the world's most important defence and technology innovation hubs and connected thousands of founders across two decades. We dedicate this episode to his memory. Our condolences to his family, his team, and the Austin community.
Craig Cummings LinkedIn: https://www.linkedin.com/in/craigwcummings/
Moonshots Capital: https://www.moonshots.capital/
Host Links (for YouTube description / pinned comment):
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
Sean Singleton (Co-host): https://www.linkedin.com/in/sean-singleton-b616292/
BZV Website: https://beatenzone.vc
Jul 1, 2026
Jul 1, 2026
40 min
Colonel Enrique Oti was employee number one at the Defense Innovation Unit - and he watched it nearly fail before it found its footing. In this episode, Sean Singleton and Peta Ellis sit down with Enrique, now Chief Strategy Officer at Second Front Systems, to trace a 23-year Air Force career that took him from special operations in Honduras and Afghanistan to two years as an Olmsted Scholar inside China's universities, to Silicon Valley at exactly the moment Washington and the tech sector had stopped talking to each other. Enrique shares what the original DIU got wrong, why every Ministry of Defence in the world is making the same mistake right now, why the difference between dual-use and defence tech matters more than most founders admit, and why Australian companies need to prove traction at home before showing up at the Pentagon door. He also breaks down what Second Front Systems is building to make AUKUS Pillar Two a real, frictionless reality across US, UK and Australian military networks.
🔗 GUEST LINKS
Enrique OtiLinkedIn: https://www.linkedin.com/in/enrique-oti
Second Front Systems: https://www.secondfront.com
Host Links:
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
Sean Singleton (Co-host): https://www.linkedin.com/in/sean-singleton-b616292
BZV YouTube Channel: https://www.youtube.com/@BeatenZoneVenturePartners/videos
BZV Website: https://beatenzone.vc
Produced at The Podcast Boss podcast studio in Brisbane
Jun 18, 2026
Jun 18, 2026
49 min
Rob Castaneda grew up in Toongabie in Western Sydney, snuck into UTS to do computer science, and landed a help desk internship at a Silicon Valley company when he was 17. From that first role he never stopped moving forward. In 2001 he founded ServiceRocket in Sydney. In 2008, when everyone told him he was crazy, he moved the company to Palo Alto during the global financial crisis. Today ServiceRocket has around 240 people across 10 countries and Rob is an LP in Beaten Zone Venture Partners.
In this episode Peta Ellis sits down with Rob to unpack why it is genuinely easier to grow a tech company in the US than in Australia, why the founder has to be the one who moves, how a self-funded company still runs tight board accountability, and what he looks for in the next generation of talent.
GUEST LINKS
Rob Castaneda LinkedIn: https://www.linkedin.com/in/robertcastaneda/
ServiceRocket: https://www.servicerocket.com/
Leadership Behaviours Substack: https://leadershipbehaviors.org/
Host Links:
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
BZV YouTube Channel: https://www.youtube.com/@BeatenZoneVenturePartners/videos
BZV Website: https://beatenzone.vc
Production: Produced at The Podcast Boss podcast studio in Brisbane. thepodcastboss.com
May 21, 2026
May 21, 2026
42 min
Ross Osborne is the Chief Engineer and Technical Director at SYPAQ Systems, a Melbourne-based company founded in 1992 that has grown from professional services and consulting in defence and government into one of Australia's most capable autonomous systems developers and manufacturers. Ross has been with SYPAQ for 16 years, joining after a graduate engineering program at BAE Systems where his focus was already on autonomous systems.
In this episode we trace the full arc of SYPAQ's most celebrated product: the Corvo PPDS, widely known as the cardboard drone. Ross explains how the concept came from a three-day sprint in 2018, prototyped on day one, flown on day two, bid written on day three. The idea was pitched at an Army Innovation Day, secured a contract, went through 10 months of engineering development, was shelved during COVID, and then, when the Ukraine conflict began in 2022, went from sitting on a shelf to full-rate production of 100 systems in five weeks.
We also discuss the Corvo X, SYPAQ's fixed-wing VTOL surveillance drone now delivered into Australian Army service through a formal acquisition program, a journey that took close to a decade. Ross explains the difference between running a rapid innovation program and navigating a full defence acquisition cycle, why both matter, and what makes SYPAQ's engineering culture different: nearly a quarter of the workforce are veterans, the team draws from automotive, medical, aerospace, and software backgrounds, and the engineering environment is built around multidisciplinary collaboration.
Ross shares his thinking on sovereign manufacturing, why the small premium to produce in Australia is worth it, how SYPAQ is now turning its decade of drone-building experience toward counter-drone technology, and why the 5,000 square metre Melbourne facility that felt large five years ago is already bursting at the seams.
🔗 GUEST LINKS
Ross Osborne LinkedIn: https://www.linkedin.com/in/ross-osborne-sypaq/
SYPAQ Systems: https://www.sypaq.com.au
Host Links:
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
BZV YouTube Channel: https://www.youtube.com/@BeatenZoneVenturePartners/videos
BZV Website: https://beatenzone.vc
Recorded and produced at The Podcast Boss podcast studio in Brisbane
thepodcastboss.com
May 7, 2026
May 7, 2026
45 min
Judd McCann, supply chain and defence tech specialist, joins The Briefing Room to share what it really takes to break into U.S. and UK defence markets as an Australian founder.
Judd's career spans British MOD contracts in conflict zones, autonomous maritime platform development, and hands-on U.S. federal contracting, including 72-hour bid windows for U.S. Navy programs. He explains why your network is worth more than your product, how SBA programs and joint ventures compress timelines, and why the UK is often the smarter first move before tackling the U.S.
Topics include SOFWERX, Cyber CISA, Defense Innovation Unit, Vulcan, Austrade pathways, Sam.gov, Society of American Military Engineers, and why reliability matters more than ego in federal procurement.
Find out more: https://beatenzone.vc
Judd McCann LinkedIn: https://www.linkedin.com/in/juddmccann/:
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
BZV YouTube Channel: https://www.youtube.com/@BeatenZoneVenturePartners/videos
BZV Website: https://beatenzone.vc
Recorded and produced at The Podcast Boss podcast studio in Brisbane
Apr 30, 2026
Apr 30, 2026
36 min
Robin Levison, investor, former ASX-listed CEO, and one of Beaten Zone's earliest Limited Partners, joins The Briefing Room for a candid conversation on high-risk investing, sovereign capability, and why he sees Australian defence as low-hanging fruit.
We trace Robin's career from KPMG auditor to Merrill Lynch investment banker to CEO of an ASX-listed technology company, culminating in a $700 million acquisition by General Electric.
Robin explains why he stopped doing his own angel investing, how he came to trust the BZV team's research process, and why special purpose vehicles like HEO's Series A offer investors a way to back sovereign capability on their own terms.
Topics include financial discipline in startups, fractional executives, university commercialisation, the future of Australian defence investment, and why the large super funds are about to start paying attention.
Guest Links :
Robin Levison LinkedIn: https://www.linkedin.com/in/robin-levison-7b9b3b10/
Ignition Equity Partners: https://www.ignitionpartners.net/
Host Links (for YouTube description / pinned comment):
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
BZV YouTube Channel: https://www.youtube.com/@BeatenZoneVenturePartners/videos
BZV Website: https://beatenzone.vc
Recorded and Produced at The Podcast Boss podcast studio in Brisbane
Apr 16, 2026
Apr 16, 2026
52 min
In this episode of The Briefing Room, Peta Ellis sits down with Wayne Jones, CEO and Co-Founder of xReality Group (ASX: XRG) and its subsidiary Operator XR.
Wayne served 21 years in the Australian Defence Force, spending the last 15 in the Special Air Service Regiment with deployments across Rwanda, East Timor, and Afghanistan. After leaving the ADF, he co-founded Indoor Skydive Australia (iFly), which listed on the ASX in 2013 as the highest-performing IPO of the year. When a legal battle halted iFly’s expansion, Wayne made a bold pivot into virtual reality, ultimately building Operator XR, now one of the world’s leading tactical training platforms for military and law enforcement.
In this conversation, Wayne and Peta cover:
What 21 years in the SASR teaches you about leadership, resilience, and taking action under uncertainty
How two SAS soldiers founded iFly and built the highest-performing ASX IPO of 2013
The legal battle that stopped iFly’s expansion and forced a pivot to virtual reality
How Operator XR now serves around 95 US law enforcement agencies with immersive, data-driven tactical training
Why counter-drone training in VR is now one of the fastest-growing use cases for the platform
Keeping the engineering culture alive in Australia while scaling the business in the US
GUEST LINKS
Wayne Jones LinkedIn: https://www.linkedin.com/in/wayne-jones-637aba58/
xReality Group: https://xrgroup.com.au
Host Links:
Peta Ellis (Host): https://www.linkedin.com/in/petaellis/
BZV Website: https://beatenzone.vc
Produced at our The Podcast Boss podcast studio in Brisbane
Apr 9, 2026
Apr 9, 2026
41 min
In this episode of The Briefing Room, Peta Ellis sits down with James Palmer, CEO and Co-Founder of Silentium Defence, the Adelaide-based company redefining what it means to see without being seen.
James shares the full story: from meeting his co-founder at the Defence Science and Technology Group in 2006, to a decade of experimental research, to the decision in 2017 to leave the public service and build a company from scratch.
What followed is one of Australia's most compelling deep tech origin stories, navigating IP and conflict-of-interest requirements, running through the CSIRO ON Accelerate program, securing early grants and commercial contracts, and ultimately building a globally recognised passive radar business with over 100 employees across Australia and the US.
In this conversation, James and Peta cover:
How passive radar works, and why not emitting a signal is the ultimate tactical advantage
The MAVERICK family of systems, from soldier-portable units to the OmniGuard space domain awareness platform
The decision to enter the US market and post a co-founder to Virginia
How Silentium maintains a unified culture as it scales globally
What the next two years look like as the company focuses on manufacturing scale and global market expansion
GUEST LINKS
James Palmer LinkedIn: https://www.linkedin.com/in/james-palmer-sd/
Silentium Defence: https://www.silentiumdefence.com.au
Host Links:
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
BZV YouTube Channel: https://www.youtube.com/@BeatenZoneVenturePartners/videos
BZV Website: https://beatenzone.vc
Produced at our The Podcast Boss podcast studio in Brisbane
Mar 25, 2026
Mar 25, 2026
56 min
Martin Shaw, President & CEO of Wounded Heroes Australia, joins us in The Briefing Room with frontline stories from supporting veterans and Defence families facing crisis. We discuss the hidden challenge of veteran homelessness, programs like Exercise Stone Pillow and Horses 4 Heroes, and how Wounded Heroes built national trust without government funding. Martin reflects on balancing business experience with charity leadership, the role of innovation in veteran support, and what younger founders can do to create meaningful solutions for those who've served.
🔗 GUEST LINKS
Martin Shaw LinkedIn: https://www.linkedin.com/in/martin-shaw-94021052/
Wounded Heroes Australia: https://www.woundedheroes.org.au/
Host Links
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
Jake Bostock (Cohost) https://www.linkedin.com/in/jake123456789/
BZV YouTube Channel: https://www.youtube.com/@BeatenZoneVenturePartners/videos
BZV Website: https://beatenzone.vc
Produced by The Podcast boss
Mar 19, 2026
Mar 19, 2026
40 min
Rob Nioa shares the remarkable story of how his parents started the family business in the 1960s selling produce from a roadside trailer, before eventually building one of Australia's most important defence manufacturing companies.
Today, Nioa Group is Australia's largest privately owned supplier of weapons and munitions, operating across Australia, the United States, the United Kingdom, and New Zealand.
Rob explains the company's work across ammunition manufacturing, weapons logistics, missile collaboration programs, and international defence partnerships. We discuss sovereign capability and why domestic manufacturing matters as global security dynamics shift, including the Benalla ammunition factory, guided weapons production capability, and international expansion into the US and UK defence markets.
Guest links
Rob Nioa LinkedIn https://www.linkedin.com/in/robertnioa/
Nioa Group Website, https://www.nioa.com.au/about
Rob Nioa Wikipedia, https://en.wikipedia.org/wiki/NIOA
Host Links (for YouTube description / pinned comment):
Peta Ellis (Host): https://www.linkedin.com/in/petaellis
BZV YouTube Channel: https://www.youtube.com/@BeatenZoneVenturePartners/videos
BZV Website: https://beatenzone.vc
Produced By The Podcast Boss