Investment & Fund Management

The European Investment Fund (EIF) has made a significant €40 million investment in Keen Venture Partners’ European Defence and Security Tech Fund, marking its first investment in a dedicated European defence fund. This initiative is part of the broader InvestEU programme, which aims to mobilize over €372 billion in investments to support EU policy priorities by 2027. The fund specifically targets early-stage companies across the EU that are innovating in critical areas such as information superiority, cyber defence, robotics, AI, and space technologies, including satellite communications and the defense of space assets.

The investment comes at a time when Europe is facing heightened security threats, necessitating a robust response in the defence and security sectors. The EIF's commitment to this fund aligns with the European Investment Bank Group's strategy to bolster the European security and defence landscape amid geopolitical challenges. By focusing on innovative companies in this sector, the EIF aims to enhance technological advancements and improve overall security and resilience in Europe.

This investment is a pioneering effort under the Defence Equity Facility and the InvestEU Space mandate, building on the EIF's previous engagements with generalist venture capital funds that had a partial focus on defence. The collaboration with Keen Venture Partners, which has a strong track record in defence technology, is expected to foster a more dynamic ecosystem for private investment in the defence industry, particularly benefiting new players in the market.