Keen Venture Partners’ European Defence & Security Tech Fund has reached €180 million following a €10 million commitment from Invest-NL. The Amsterdam-based venture firm is building one of Europe’s larger early-stage defence technology funds.
- The fund is targeting a final close in summer 2026 and invests in startups developing defence, security, and dual-use technologies across NATO-aligned markets in Europe.
- Invest-NL joins a group of institutional backers that includes the European Investment Fund (EIF), Dutch pension fund PME, TNO, ABN AMRO, and regional development agency LIOF. Earlier in 2025, the EIF committed €40 million to the strategy, alongside PME’s €40 million allocation.
- The vehicle was initially launched with a €150 million first close and has since deployed capital into four companies working in areas such as autonomy, robotics, space technologies, and cybersecurity.
- Keen Venture Partners, founded in 2016 by Giuseppe Lacerenza, Alexander Ribbink, and Ties Klinkhamer, invests in early-stage European technology companies through two themes: enterprise software and defence and security. Its defence strategy typically backs seed to Series B companies, with investments ranging from €1 million to €8 million.
