• The EIF commitment is supported by the InvestEU programme, which aims to generate over €372 billion in investments supporting EU policy priorities until 2027.
• This investment is the EIFs first 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.
• This investment aligns with the EIB Groups strategy to strengthen European security and defence amid geopolitical challenges.

As Europe faces unprecedented security threats, innovation in defence, security, and space technologies has become a strategic imperative. The EIB Group increased its support for the security and defence industry in 2024, expanding the scope of eligible projects earlier this March.

The European Investment Fund (EIF) today announced a pioneering effort to enhance the availability of capital for defence-focused ventures in Europe, with a €40 million investment in Keens European Defence and Security Tech Fund. The fund, focusing on early-stage companies within the defence and security technology sector, aims to support companies pioneering solutions in areas such as information superiority, cyber defence, robotics, AI, autonomous systems, and space technologies such as securing satellite communications and satellite image analysis. The Funds investments will be pan-European, with exposure to the United Kingdom, Turkey, and Norway.

Marjut Falkstedt, Chief Executive of the EIF, stated, Our investment in the Keen European Defence and Security Tech Fund underscores our commitment to strengthening the European security landscape. By supporting innovative companies in this critical sector, we are not only fostering technological advancements but also enhancing Europes overall security and resilience.

This investment is the first of its kind under the Defence Equity Facility and the InvestEU Space mandate and builds upon EIFs previous investments in generalist venture capital funds with a partial focus on defence.

Alexander Ribbink and Giuseppe Lacerenza, Partners at Keen Venture Partners: The team at Keen has a long commitment to and investments in defence and defence technology. The opportunity to add the power of tech entrepreneurs with the full support of venture capital to the European defence ecosystem is huge. A stronger and safer Europe needs the resourcefulness and grit that only entrepreneurs can bring. We are proud to be at the forefront of this trend and to be strongly supported by the EIF.

More information on the EIB Group investments in security and defence are available here.

Background information

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europes micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of sustainability, innovation, research and development, entrepreneurship, growth, and employment.

Keen Venture Partners is a radically human venture capital firm based in Amsterdam and London. Keen backs exceptional teams and fast-growing European tech companies from seed to Series B. Keen has built strong expertise in defence and deep tech, supported by an advisory board of European military leaders, industry veterans, and policymakers. The firm invests through a thesis-driven approach, formulating investment ideas based on fundamental trends in specific areas of technology. When getting to know founders, Keen shares its network of operators, experience, and capabilities even before investing. The portfolio consists of 30+ startups and scaleups across Europe. More information is available at: www.keenventurepartners.com

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition, and support for small and medium-sized enterprises. InvestEU brings all EU financial instruments together under one roof, making funding for investment projects in Europe simpler, more efficient, and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.