Ukraine Must Attack Russia’s Missile Plants to Win War, MITS Capital CEO Says

Ukraine cannot defend its way to victory over Russia, shooting down missiles one-at-a-time, it must attack the sources, according to Perry Boyle, co-founder and CEO of MITS Capital, one of Ukraine’s largest defense-industry investment groups. Speaking at the Yalta European Strategy (YES) forum, held by the Victor Pinchuk Foundation in Kyiv on Sept. 11-12, Boyle said the world does not have enough air defense systems to fully protect Ukraine, and a strategy built solely around intercepting Russian missiles and drones is doomed to fail.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. MITS Capital, based in Kyiv and New York, was co-founded by Boyle – a retired veteran of US investment banking who worked at firms including Thomas Weisel Partners and SAC Capital – with Ukrainian volunteer Denys Gurak in 2022, Boyle told Kyiv Post in an interview in September 2025. Interfax-Ukraine quoted Boyle: “The only strategy that will work here is to convince your partners that they need to defeat Russia, and for Ukraine to attack Russia’s economy and the Russian factories that produce missiles. Once the missiles are launched from Russia, you have no defense, and today you are not using your long-range attack potential to the full – I guarantee you that.” Boyle also argued that Kyiv’s push to attract foreign capital into its defense-industrial complex has been undermined by its own policy. He said: Other Topics of Interest Putin’s Economic Growth Claims Diverge From IMF Data Vladimir Putin claims that Russia’s economy has outpaced world growth, but IMF and Eurostat figures show the claims diverge from official data. “There has been very little foreign investment in Ukraine’s defense industry, partly because of Ukraine’s policy of favoring foreign companies operating on its territory over domestic ones. Your partners are trying to get your technology as cheaply as possible while investing in Ukraine as little as possible.” Under current conditions, he added, it would make far more business sense for MITS Capital to operate out of Poland or Czechia than Ukraine – though he said the government and the Verkhovna Rada could still act to change the policy. Boyle said: “Ultimately, if you can’t change your partners’ narrative that Russia must be defeated in Ukraine, there will be no deal with Russia on peace – we know that, and Ukraine will become the next Georgia. That’s the core of the problem.” As of September 2025, MITS had invested in 11 companies, including ground-drone maker Tencore and frontline communications firm Teletactica, Kyiv Post has reported. That same month, the fund launched MITS Industries, a Denmark-based holding company uniting Ukrainian manufacturers such as signals-intelligence firm Infozahyst and electronic-warfare producer Unwave. At YES 2026, Boyle described MITS’s portfolio as having grown to several dozen companies supplying Ukraine’s Defense Forces. Among the most recent investments, MITS Capital invested in Dropla Tech, a Danish-Ukrainian defense technology company whose AI system has confirmed more than 5,000 explosive-threat detections in Ukraine. Olena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024.