The European Investment Fund (EIF) has pledged €40M into Keen Venture Partners' European Defence and Security Tech Fund, the first of its kind in Europe. This investment comes as Europe seeks to bolster its defence initiatives amid rising security concerns, especially following the conflict in Ukraine. The fund aims to support 20-25 companies focusing on innovative defence technologies. Keen highlights the need for venture capital to drive the development of new technologies and improve Europe's defence capabilities, projecting that increased investment in defence can positively impact GDP.
Europe needs to increase its defence efforts due to the ongoing conflict in Ukraine and pressure from the US to share more of NATO's defence responsibilities.
To build a strong defence tech ecosystem, venture capital is crucial for rapidly scaling these solutions and driving long-term impact.
The mission to make Europe stronger and safer by empowering defence tech entrepreneurs receives a major boost with this EIF investment in our fund.
Strengthening Europe's defence and security through private capital, combined with the ingenuity and perseverance of entrepreneurs, is only just beginning.
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