From pre-seed checks to €30 million growth investments, these are the investors building Europe’s defence capital stack.

The fund secured a €3.8 million commitment from National Development Investment (NRI).

The round was led by Freedom Fund, with participation from Gardar Venture Capital, Iron Wolf Capital, and Autonomy Capital.

The round was co-led by Riot Ventures and Atreides Management, with participation from the European Innovation Council Fund.

The round was led by Alstin Capital, with participation from PROfounders, Scale Capital and existing investors.

The EU’s SAFE instrument provides up to €150 billion in loans for joint defence procurement across Europe.

The fund was backed by undisclosed LPs.

The tender saw backing from Wellington Management, T. Rowe Price, Goldman Sachs, GIC, Ontario Teachers’ Pension Plan, and EQT Group.