The European Investment Fund (EIF) has announced its first investment in a dedicated European defence fund with a €40 million bet on Keen Venture Partners’ European Defence and Security Tech Fund.
The EIF said the fund aims to support companies “that are pioneering solutions in areas such as information superiority, cyber defence, robotics, AI, autonomous systems and space technologies such as securing satellite communications, satellite image analysis, and defence of space assets.”
The Fund’s investments will be pan-European, with exposure to the United Kingdom, Turkey and Norway.
Keen Venture Partners is based in Amsterdam and London. It has built expertise in defence and deep tech, supported by an advisory board of European military leaders, industry veterans, and policymakers.
European Commission Executive Vice-President for Prosperity and Industrial Strategy Stephane Séjourné said: “Strengthening Europe’s defence technological and industrial base is about securing our strategic autonomy and protecting our citizens—on land, at sea, in the air, in cyberspace, and in space.
“It’s about ensuring that European companies can deliver the technologies we need. We are moving from declarations to delivery, with investments to match our ambition.”
EIF CEO Marjut Falkstedt said: “Our investment in the Keen European Defence and Security Tech Fund underscores our commitment to strengthening the European security landscape.
“By supporting innovative companies in this critical sector, we are not only fostering technological advancements but also enhancing Europe’s overall security and resilience.”
Alexander Ribbink and Giuseppe Lacerenza, Partners at Keen Venture Partners, said: “The team at Keen has a long commitment to and investments in defence and defence technology.
“The opportunity to add the power of tech entrepreneurs with the full support of venture capital to the European defence ecosystem is huge.
“A stronger and safer Europe needs the resourcefulness and grit that only entrepreneurs can bring. We are proud to be at the forefront of this trend, and to be strongly supported by the EIF.”