German growth investor DTCP has raised €455 million in the first closing of DTCP Defence Fund I. The final closing is expected in the first quarter of 2027. LPs in the fund include European institutional and strategic investors, such as Deutsche Telekom, Porsche SE, EIFO, Danica, and SmartCap.
- DTCP is a global investment management firm with €5 billion in AUM and a presence in Germany, the UK, the US, Luxembourg, Israel, and soon Denmark. It backs growth-stage enterprise software, mid-market digital infrastructure, and mission-critical technology companies.
- The new DTCP Defence Fund I invests in early-growth and growth-stage technology companies primarily in Europe and selectively NATO allied countries. Its average check is €20 million.
- DTCP Defence investment strategy focuses on AI, autonomous systems, cyber defence, secure communications, and space technologies.
- The fund was launched in January and has already completed its first two investments — in Norwegian autonomy software startup Six Robotics and UK-based developer of uncrewed maritime platforms Kraken Technology Group.
- DTCP's broader portfolio also includes Quantum Systems and STARK Defence.
- Structurally, DTCP Defence Fund I is managed by a dedicated investment team led by Partners Ole Aguirre and Georgia Watson.
