As modern battlefield needs evolve, Keen Venture Partners raises Europe’s largest dedicated DefenceTech fund
Amsterdam-based Keen Venture Partners has launched the largest DefenseTech venture capital fund in Europe, with over €150 million raised in its first close. This initiative addresses the critical need for increased investment in European defense capabilities, aiming to strengthen the continent's strategic autonomy, especially in light of modern warfare dynamics. The European Investment Fund (EIF) and pension fund PME are major contributors, highlighting the significance of this undertaking. The fund will invest in more than 25 companies, primarily at the Series A stage, with investments ranging from €1 to €10 million. Keen's focus areas include cybersecurity, autonomous systems, deterrence technologies, and space applications. Keen Venture Partners, which has a track record of supporting DeepTech ventures, will collaborate with other European VC firms. This investment underscores the growing recognition of how critical scalable, software-driven technologies, including AI and autonomous systems, are for modern warfare. The initiative aims to support startups developing technologies for the modern battlefield and strengthen Europe's resilience. The fund seeks to bridge the gap between European innovation and access to defense customers, which is essential to drive more innovation. Keen's efforts align with the broader trend of increasing investment in European defense technology. Other funds, such as Expeditions Fund II and Balnord, have also raised significant capital, collectively demonstrating a strong commitment to strengthening Europe's defense-tech ecosystem.
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