As Europe faces an unprecedented level of security threat, innovation in defence, security, and space technologies has become a strategic imperative. The EIB Group has stepped up its support to the security and defence industry in 2024, widening the scope of defence and security projects eligible for financing earlier this March.
The European Investment Fund (EIF) today announced a pioneering effort to enhance the availability of capital for defence-focused ventures in Europe, with a €40 million investment in Keen's European Defence and Security Tech Fund. The fund, with a focus on early-stage companies within the defence and security technology sector, 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.
Marjut Falkstedt, Chief Executive of the EIF, stated, "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."
This investment is the first of its kind under the Defence Equity Facility and the InvestEU Space mandate and builds upon EIF's previous investments in generalist venture capital funds with a partial focus on defence.
Alexander Ribbink, and Giuseppe Lacerenza Partners at Keen Venture Partners: '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'.
