- EIF commitment is backed by the InvestEU programme, which aims to trigger more than €372 billion overall in investment supporting EU policy priorities, until 2027
- This investment is the EIF’s first investment in a dedicated European defence fund
- The Fund targets early-stage companies across the EU, focusing on information superiority, cyber defence, space, autonomy and robotics among others
- This investment aligns with the EIB Group’s strategy to strengthen European security and defence amid geopolitical challenges
As Europe faces an unprecedented level of security threat, innovation in defence, security, and space technologies has become a strategic imperative. The EIB Group has stepped up its support to the security and defence industry in 2024, widening the scope of defence and security projects eligible for financing earlier this March.
The European Investment Fund (EIF) announced a pioneering effort to enhance the availability of capital for defence-focused ventures in Europe, with a €40 million investment in Keen’s European Defence and Security Tech Fund. The fund, with a focus on early-stage companies within the defence and security technology sector, aims to support companies that are pioneering solutions in areas such as information superiority, cyber defence, robotics, AI, autonomous systems and space technologies such as securing satellite communications, satellite image analysis, and defence of space assets. The Fund’s investments will be pan-European, with exposure to the United Kingdom, Turkey and Norway.
This investment is the first of its kind under the Defence Equity Facility and the InvestEU Space mandate and builds upon EIF’s previous investments in generalist venture capital funds with a partial focus on defence.
More information on the EIB Group investments in security and defence are available here.
Source: European Investment Fund | News & Publications | Press releases (https://tinyurl.com/3tyn299a)