PEOPLE PROFILE: H. Perry Boyle, Jr., CFA
Full Name: H. Perry Boyle, Jr., CFA
Current Roles: Co-founder & CEO, MITS Capital LLC; Chairman, MITS Industries A/S; Director, Dragonfly Energy Holdings Corp; Advisor, Equity Data Science; Advisory Board, Cypress Capital Group
Location: Kyiv, Ukraine and Ketchum, Idaho, United States
LinkedIn: linkedin.com/in/perryboyle
Executive Summary
Perry Boyle is an American former Wall Street executive who pivoted to the Ukrainian defense sector following the 2022 Russian invasion. He is the Co-founder and CEO of MITS Capital LLC, currently the largest defense technology investment group in Ukraine. His 35-year career in finance included senior leadership roles at Point72 Asset Management, SAC Capital Advisors, and Thomas Weisel Partners. Boyle is a vocal critic of NATO’s approach to defense innovation, advocating instead for the Ukrainian model of rapid, decentralized, and systems-based adaptation.
Professional Background: Wall Street Career (1985–2020)
Prior to his involvement in Ukraine, Boyle spent 35 years in asset management and investment banking. He began his career as an investment banker at Salomon Brothers Inc. and later served as a Managing Director at Alex. Brown & Sons (Cypress Capital Group, 2022). He was a founding partner and operating committee member at Thomas Weisel Partners, where he co-headed research from 1998 to 2004 (MarketScreener).
Boyle spent 15 years at SAC Capital Advisors and its successor firm, Point72 Asset Management. He served as Director of Research and Head of Equities at SAC Capital until its conversion to Point72 in 2014 (Bloomberg, 2020). At Point72, he ran the global long/short equity business, served as Head of Discretionary Investing, and managed an investment staff of over 200 professionals across New York, London, Hong Kong, Tokyo, and Singapore. During his tenure, he raised over $8 billion from sovereign wealth, institutional, and family office investors (Cypress Capital Group, 2022). Boyle retired from Point72 in March 2020 (Bloomberg, 2020).
Education
| Degree | Institution |
|---|---|
| A.B. in Economics | Stanford University |
| M.B.A. | Tuck School of Business, Dartmouth College |
| M.A. in International Relations | The Fletcher School of Law and Diplomacy, Tufts University |
| PGCert / M.A. in Global Security | King’s College London |
| Board of Directors courses | The Wharton School; Stanford University |
| Designation | Chartered Financial Analyst (CFA) |
Source: CNAS; ShoreBridge Capital
Pivot to Ukrainian Defense: MITS Capital (2022–Present)
Following the Russian invasion of Ukraine in February 2022, Boyle attempted to join the International Legion but was declined due to a lack of military experience. He subsequently partnered with Denys Gurak (former Deputy Director-General of Ukrainian Defense Industry and Head of Ukraine’s delegation to the NATO Industrial Advisory Group) and Anton Melnyk to found MITS Capital LLC in Kyiv (Kyiv Post, 2025).
MITS Capital operates as an investment bank and accelerator focused exclusively on channeling foreign capital into Ukraine’s defense industrial base (MITS Capital). The firm targets a $50 million flagship fund and provides investments ranging from $500,000 to $3 million via its Lightning Fund (PitchBook, 2024). As of late 2025, the portfolio included 11 companies, notably Teletactica (jam-resistant tactical communications) and Tencore (manufacturer of the TerMIT ground drone for battlefield evacuation) (Kyiv Post, 2025; DefenseMirror, 2025).
Boyle also chairs MITS Industries A/S, a Danish-Ukrainian joint venture established to consolidate Ukrainian defense-tech companies—including Infozahyst (signals intelligence), Unwave (electronic warfare), and an undisclosed drone manufacturer—for scaled production and export (Kyiv Post, 2025; UNITED24 Media, 2025).
MITS Capital Supervisory Board
| Name | Role/Background |
|---|---|
| Phillip A. Karber | Former Strategic Advisor to the U.S. Secretary of Defense and NATO SACEUR; President, The Potomac Foundation; 45 trips to Ukraine since 2013; 199 days in combat zone (NDU Eisenhower School) |
| Ernest J. Herold | Former NATO Deputy Assistant Secretary General for Defense Investment; Retired U.S. Army Colonel (26 years) |
| Dmytro Sholomko | Former Country Director at Google for Ukraine and Eastern Europe |
| Fabrice Pothier | Co-founder/CEO of Rasmussen Global; Former Director of Policy Planning under two NATO Secretary Generals |
| David Bonfili | Co-founder of ACME General Corp; Former senior executive at Citadel, BlackRock, and Two Sigma |
Source: MITS Capital Team
Defense Innovation Thesis and NATO Criticism
Boyle’s investment thesis centers on “cost-per-effect” as the guiding metric, rather than high-tech platform accumulation (DefenseMirror, 2025). He argues that the Ukrainian defense industry’s success stems from the elimination of bureaucracy between the factory and the frontline, allowing for rapid iteration based on direct combat feedback (War on the Rocks, 2025).
In a June 2026 LinkedIn post regarding an article in Defence Procurement International, Boyle stated that he actively calls out “innovation theater” at NATO conferences (LinkedIn, 2026). He argues that NATO’s concept of innovation is anchored in technologies rather than in systems, making it unfit for modern attritional warfare. Boyle frequently highlights the contrast between Ukraine’s decentralized capability-building and NATO’s slow, centralized procurement processes.
“In my experience with NATO politicians, they are unaware of most of the lessons of Ukraine, and their concept of innovation is anchored in technologies rather than in systems.” — Perry Boyle, LinkedIn, June 2026
“I’m going to do my best to tell you how war works, and you will pretend to listen, but judging by your actions you will not hear what I tell you. Anyways, thank you for this opportunity to take a break from killing Russians.” — Ukrainian warfighter quote frequently cited by Boyle
Furthermore, Boyle strongly advocates for the lifting of Ukrainian export restrictions on defense articles. He argues that permitting exports of systems where Ukraine has excess production capacity is the only way to attract the private capital necessary to scale the domestic defense industry (War on the Rocks, 2025; Kyiv Post, 2025).
Board Memberships, Affiliations, and NGO Work
| Organization | Role | Notes |
|---|---|---|
| Dragonfly Energy Holdings Corp | Director (since Oct 2022) | Audit Committee (SEC-qualified financial expert); Nominating Committee Chair |
| Equity Data Science (EDS) | Strategic Advisor (since Mar 2025) | Investment process management software |
| Cypress Capital Group | Advisory Board (since May 2022) | Private equity real estate |
| The BOMA Project (BOMA.ngo) | Chairman of the Board | Poverty graduation programs for women/youth in East Africa |
| ShoreBridge Capital Partners | Affiliated | FINRA/SIPC member broker-dealer |
| Center for a New American Security (CNAS) | Former Board of Advisors | National security think tank |
| International Institute of Strategic Studies (IISS) | Former Advisory Board | Delegate to Manama and Shangri-La Dialogues |
Media Appearances and Publications
| Date | Outlet | Title/Topic |
|---|---|---|
| Aug 14, 2025 | War on the Rocks | “Investing in Ukraine’s Defense Edge: A Conversation with Perry Boyle” |
| Sep 17, 2024 | PitchBook | “Point72 veteran targets $50M for Ukraine defense tech VC fund” |
| Sep 23, 2025 | Kyiv Post | “Defense Exports Are Silver Bullet for Industry: MITS Capital Founder Says” |
| Aug 18, 2025 | DefenseMirror | “MITS Capital’s CEO on Backing Ukraine’s Defense Tech” |
| Oct 16, 2025 | UNITED24 Media | “Why Smart Capital Is Backing Ukraine’s Defense Tech to Win the War” |
| Sep 11, 2025 | Mission Matters Podcast | “The Future of Western Defense – Ukraine’s Military Tech Revolution” |
| Apr 25, 2025 | YouTube | “Inside Ukraine’s Defense Revolution with Perry Boyle of MITS Capital” |
| 2025 | YouTube | “Cheaper & Smarter” — Situational Awareness Podcast, Defense Tech Valley 2025, Lviv |
| Apr 6, 2026 | Apple Podcasts | “How Ukraine Funds the War” — Lessons Lost in Time with Bill Murray |
| Feb 26, 2025 | Instagram/MITS | Danish Defence Annual Conference 2025 |
| Mar 2, 2020 | Bloomberg | “Cohen Lieutenant Perry Boyle to Retire From Point72 at Month-End” |
| Mar 25, 2025 | BusinessWire | EDS Advisory Team Expansion Announcement |
Online Presence
| Platform | URL |
|---|---|
| https://www.linkedin.com/in/perryboyle | |
| MITS Capital | Team - MITS — Military Innovation Technology Solutions |
| ShoreBridge Capital | H. Perry Boyle - ShoreBridge Capital Partners |
| Equity Data Science | Perry Boyle - Equity Data Science |
| CNAS | H. Perry Boyle, Jr., CFA | CNAS |
| UNITED24 Media | Perry Boyle — UNITED24 Media |
| Intro.co | https://intro.co/PerryBoyle |
| MarketScreener | https://www.marketscreener.com/insider/PERRY-BOYLE-A0CDU4/ |
| Boardroom Alpha | Boardroom Alpha |
Personal Facts
Boyle resides between Kyiv and Ketchum, Idaho. He has no Ukrainian family roots and had no prior connection to the country before 2022. He has stated that he “converted to Ukrainianism” and wears a traditional Ukrainian vyshyvanka shirt to public engagements (Kyiv Post, 2025). He has lectured on investing and ethics at Harvard, Stanford, Yale, Dartmouth, Brown, and Cambridge (EDS).
APPENDIX: Defence Procurement International (DPI) — Research Note
Context: Perry Boyle referenced a DPI article by “Marc C L.” in a June 2026 LinkedIn post, calling the author a “must read” analyst and endorsing the article’s conclusion that NATO’s innovation approach is “not fit for purpose.”
What is DPI?
| Field | Detail |
|---|---|
| Full Name | Defence Procurement International |
| Publisher | Trident Publications Limited (London, UK) |
| Company No. | 7535727 (England) |
| ISSN | 2049-5137 (Print) / 2049-5145 (Online) |
| Editor | Anita Hawser |
| Frequency | Quarterly (Print + Digital) |
| Website | defenceprocurementinternational.com |
| Focus | Defence procurement, acquisition trends, military technology, geopolitics |
| Audience | MOD/DOD procurement personnel, embassies, procurement agencies, military bases, Tier-1 contractors, OEMs, system integrators |
| Social | Twitter/X, LinkedIn, Instagram |
Recommendation for RSS Aggregator: Yes. DPI is a legitimate, ISSN-registered quarterly that specifically targets the intersection of policy, technology, and procurement. It features credible contributors and provides targeted analysis on acquisition trends relevant to defense technology investment. The Summer 2026 issue covers Germany’s rearmament, drone warfare economics, air defense scaling, ground drones, and NATO robotics.
Who is “Marc C L.”?
“Marc C L.” is the LinkedIn display name for Marc C. Lange, a Berlin-based strategic defense advisor and technology consultant (The Sign Media, 2025).
| Field | Detail |
|---|---|
| Full Name | Marc C. Lange |
| Location | Berlin, Germany |
| Role | Strategic defense advisor; defense tech consultant and investor |
| Newsletter | TECH WARS (Substack) — launched Sept 2025 |
| X/Twitter | @mrclng |
| linkedin.com/in/marcclange | |
| Credentials | Accredited Member, EDA Autonomous Systems Community of Interest; Jury expert for NATO DIANA, EUDIS/European Defence Fund |
| Published in | Financial Times, Reuters, Defence Procurement International, Resilience Media |
| Speaking | European Defence Week, IDET, NATO, Flaming Shield, EU, International Astronautical Congress |
| Bio (per DPI) | “Marc C. Lange is a defence advisor to strategic investors like the German government and author of the Tech Wars newsletter” |
Perry Boyle describes Lange as a “must read analyst for any European nation working to catch up to the realities of modern warfare” (LinkedIn, 2026).
The Article: “Germany’s Rearmament Problem”
Publication: Defence Procurement International, Summer 2026 Issue, pp. 12–16
Also listed as: “Forged In The Crucible” (in table of contents)
Author: Marc C. Lange
Written: March–April 2026; Published May/June 2026
PDF: DPI Summer 2026 eBook
Core Argument
Lange examines Germany’s first-ever military strategy (Militärstrategie), announced April 2026, which targets €108.2 billion in defence spending and 460,000 active/reserve personnel by mid-2030s. He argues the strategy is bold in ambition but fails to answer the critical question of how it will be executed at pace and scale.
Ukrainian Approach vs. NATO Approach (as argued in the article)
| Dimension | Ukrainian Model | NATO/German Model |
|---|---|---|
| Core logic | Capability-building problem | Platform accumulation problem |
| Innovation driver | Diversity, feedback loops, distributed production | Centralization, supplier favoritism, slow cycles |
| Unmanned systems doctrine | “Unmanned systems first” — technology defines requirements | “Also unmanned systems” — added to existing frameworks |
| Industrial base | 500+ manufacturers, 4–7 million drones/year | Few large primes, limited production runs |
| Iteration speed | Constant, real-time frontline feedback | Multi-year procurement cycles |
| Procurement reform | Systems drive institutional change | Technology purchased within legacy structures |
Proposed Solution: “Capability Factories”
Lange proposes the designation of tens of decentralized testing and iteration centers (“Capability Factories”) run by operators, where startups and established suppliers can settle for a week or two and work on solutions alongside actual soldiers in live-fire environments without bureaucratic gatekeepers. He argues that reorganizing around cadence (speed of iteration) as the central capability is the only path to credible deterrence in a drone-saturated environment.
Lange’s Own Summary (from LinkedIn comment):
“Ukraine is currently codifying 150 new systems per month. The greatest capability it has built is capability building itself. This hasn’t landed everywhere.”
“Ukraine’s most crucial success factor, a vibrant industry, full of healthy competitors, is not yet something an EU nation, including my home country, is willing to reproduce.”
Profile compiled June 2026. Facts only — no commentary or analysis.