As Europe confronts growing security threats and underinvestment in its defence sector, Keen Venture Partners has announced a major milestone: a €40 million commitment from the European Investment Fund (EIF) to its new European Defence and Security Tech Fund.
- This move comes as Europe urgently seeks to reduce dependency on foreign defence systems, counter the continuing war in Ukraine, and meet increasing demands from NATO allies to contribute more actively to collective security. The EIF’s investment is the first equity deal under its €175 million Defence Equity Facility and is backed by the InvestEU Space mandate.
"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," Marjut Falkstedt, Chief Executive of the EIF, stated in a press release.
- Keen Venture Partners, founded in 2016 and operating from Amsterdam and London, has earned recognition for backing deeptech startups through a thesis-led and founder-focused approach. Its portfolio already includes startups like EclecticIQ, Rescale, Perciv AI, and Avalor AI.
- The firm's European Defence and Security Tech Fund, targeting €125 million, aims to invest in 20 to 25 early-stage startups developing dual-use technologies across European NATO countries.
- It will focus on companies building technologies such as autonomous systems, space and satellite defence, cybersecurity, AI, and intelligence tools. Alongside the investment, the fund will leverage Keen’s extensive advisory network — made up of military leaders, industry experts, and policymakers — to fast-track innovation in this strategically critical sector.
- The fund’s investments will span across Europe, including key markets such as the United Kingdom, Turkey, and Norway.
"Strengthening Europe’s defence and security through private capital, combined with the ingenuity and perseverance of entrepreneurs, is only just beginning. We’re proud to see the EIF take a catalytic role in mobilising private investments for this vital cause,” Giuseppe Lacerenza, Partner at Keen, said.
