As modern battlefield needs evolve, Keen Venture Partners raises Europe’s largest dedicated DefenceTech fund

Today, Amsterdam-based Keen Venture Partners reveals that it has actually finished the very first close of its European support and safety and security modern technology fund– elevating greater than EUR150 million to end up being the biggest DefenceTech equity capital fund in Europe.

The European Mutual Fund (EIF) and pension plan fund PME each dedicated EUR40 million. Eager is the very first European VC fund to get a dedication from theEIF under its new €175 million Defence Investment Programme Various other financiers consist of TNO, the Netherlands’ biggest used study organisation, and ABN AMRO.

“ With the very first close finished, we are shooting on all cyndrical tubes,” state Alexander Ribbink and Giuseppe Lacerenza, companions at Keen Endeavor Allies. “ We have institutional support from the EIF and PME, and a board of advisers with deep experience in both armed forces procedures and support plan. Europe has the skill, the modern technology and the aspiration. What was missing out on was resources and accessibility to introducing support clients. That is the void we are shutting“

In parallel, Warsaw-based Expeditions Fund II has actually elevated over EUR100 million in 2025 (with a target of approximately EUR150 million) to purchase cybersecurity, AI, quantum and DefenseTech in Europe. Moreover, Luxembourg-based Balnord has actually shut a EUR70 million preliminary for its Fund I to back frontier and dual-use modern technologies in the Baltic Sea area, with a course towards a EUR100 million last nearby mid-2026. Taken with each other, these 3 funds stand for around EUR210 countless fully commited resources in Europe’s DefenseTech and dual-use endeavor domain name in 2025.

“ Our message to business owners is clear: If you are developing modern technology that can make a distinction on the modern-day field of battle or enhance the strength and prevention of Europe, we require to chat. This has to do with including business owners to Europe’s defence-tech environment and developing a more powerful, extra cutting-edge Europe with each other,” included Ribbink and Lacerenza.

NATO Secretary-General Mark Rutte explained that Europe can no more wait to enhance its very own support abilities.

Spending extra in European modern technology is crucial for accomplishing tactical freedom. The battle in Ukraine has actually shown that scalable, software-driven modern technologies, consisting of AI and independent systems, currently dramatically influence efficiency on the modern-day field of battle.

European start-ups are additionally developing these modern technologies. Yet just one quarter of European support purchase budget plans presently remains within the EU. Because of this, pioneers do not have both resources and accessibility to first support clients.

Eager Endeavor Allies, established in 2016, has actually constructed a credibility for sustaining DeepTech endeavors with a thesis-led method. The company runs out of Amsterdam and London and is understood for proactively working together with European technology business owners long prior to an official financial investment.

Eager backs firms that create dual-use modern technology along with defence-first firms developing crucial abilities straight for support. The fund concentrates on crucial locations within DefenseTech, consisting of cybersecurity, independent systems, prevention modern technologies, and room applications.

Eager purposes to purchase greater than 25 firms from Seed to Collection B, with the focus on Collection A, with financial investments varying from EUR1 to EUR10 million.

Previous support and safety and security financial investments consist of EclecticIQ, Intelic (previously Avalor AI), and Perciv AI. Eager anticipates considerable partnership and co-investment with various other European VC companies over the coming years.

To sustain this following stage of development, Keen is increase the group and working with added financial investment experts.

2025 has actually noted a hectic year for Keen– based on EU-Startups insurance coverage. In January 2025, EU-Startups reported that Keen VP was “raising €125 million to strengthen Europe’s defence-tech ecosystem“– a fund to back dual-purpose modern technologies in NATO nations and assistance 20-25 start-ups from seed to Collection B. In May 2025, EU-Startups reported that Keen had actually protected a €40 million commitment from the European Investment Fund (EIF) for its European Support & Safety And Security Technology Fund.

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