Keen Venture Partners, a leading VC firm based in Amsterdam, has announced plans to raise a €125 million fund dedicated to defence and security technology startups in Europe from seed to Series B.
This fund will be the first of its kind in the Benelux region and aims to become one of the largest defence tech investment funds in Europe. The goal is to support 20 to 25 startups from the seed stage to Series B, enabling the development of innovative solutions to address pressing geopolitical and security challenges.
“The shifting geopolitical landscape has created a critical need for Europe to become more self-reliant in defence and security. There is a real opportunity to build a stronger European defence industry,” says Alexander Ribbink, partner at Keen Venture Partners. “We are convinced that entrepreneurs and venture capital can strongly contribute to the safety of Europe. They are well-positioned to build and scale the innovative and cost-efficient solutions we need. Venture capital is essential to support and fuel entrepreneurship in the European defence industry, which will have lasting benefits far beyond the defence sector itself.”
Keen Venture Partners was founded in 2016, with a portfolio made up of investments in companies like EclecticIQ, Perciv.AI, and Avalor AI. The venture capital firm also benefits from an advisory board composed of military, political, and policy experts, reinforcing its strategic vision.
The new fund will focus on fostering innovative, dual-purpose technologies in European NATO countries, aligning closely with the European Defence Fund and NATO strategies.
Europe faces mounting strategic challenges, including the war in Ukraine, border threats, and growing tensions with China. NATO Secretary-General Mark Rutte has recently highlighted the need for Europe to mentally and physically prepare for potential conflicts.
Coupled with scrutiny over defence underspending, Keen argues that these factors underscore the urgency of building a robust, self-reliant, and sustainable European defence tech ecosystem.
The defence industry is undergoing a significant transformation, shifting from complex, low-volume systems to solutions that prioritise software, scalability, and cost-effectiveness. This evolution creates an opportunity for startups to lead innovation in “dual-use” technologies, serving both military and civilian purposes.
These include drones and radar systems, which can also support disaster response or environmental monitoring.
Entrepreneurship and venture capital can be crucial in building a scalable defence ecosystem, offering cost-effective and innovative solutions often overlooked by larger, more established defence companies. The European defence sector has experienced rapid growth, with over 100 startups exiting the market since 2017, according to Keen.
With this new fund, Keen Venture Partners aims to provide the financial backing and strategic support necessary to create a stronger, more resilient European defence ecosystem.
Read the orginal article: https://www.eu-startups.com/2025/01/keen-venture-partners-raising-e125-million-to-strengthen-europes-defence-tech-ecosystem/
