German investment firm DTCP has closed the first €455 million of its DTCP Defence Fund I, with backing from European institutional and strategic investors including Nordic investors EIFO, Danica and SmartCap, alongside Deutsche Telekom and Porsche SE. The fund will invest in early-growth and growth-stage defence, security and resilience technologies, focusing on areas such as AI, autonomous systems, cyber defence, secure communications and space, primarily through Series B and later rounds. DTCP Defence has already invested in Norwegian defence technology company Six Robotics, which develops autonomy and orchestration software for unmanned systems, and UK-based Kraken Technology Group, while a third investment is underway. As part of the fund’s expansion, DTCP plans to open a new office in Copenhagen in 2027, strengthening its presence in Denmark and the wider Nordic defence and technology ecosystem and creating an additional base for sourcing and supporting companies across Northern Europe.
DTCP is a global investment management firm focused on technology and infrastructure investments, with a particular focus on growth-stage enterprise software, digital infrastructure and mission-critical technology companies. As of September 2026, the firm manages €5 billion in assets and has more than 60 professionals across the world, with Copenhagen set to become part of its European footprint in 2027. Its investment activities span areas including enterprise technology, digital infrastructure and defence-related technologies. Through its DTCP Defence strategy, the firm invests in companies developing technologies for defence, security and resilience, including artificial intelligence, autonomous systems, cyber defence, secure communications and space technologies.
DTCP Defence Fund I will invest in early-growth and growth-stage technology companies working across defence, security and resilience. Its investment focus includes AI, autonomous systems, cyber defence, secure communications and space technologies, with a particular emphasis on Series B and later funding rounds. The fund will primarily target European companies, while also investing selectively in businesses from NATO member states and close allies where their technologies are considered strategically relevant to European defence, interoperability or critical supply chains.
Three Nordic investors are participating in the fund: Denmark’s EIFO and Danica, alongside Estonia’s SmartCap.
“EIFO and Danica are important local partners, and the opening of DTCP’s Copenhagen office in 2027 demonstrates our long-term commitment to the region. Together, these links will help build stronger European value chains and serve as a bridge between the Danish and German defence technology ecosystems,” says Thomas Preuß.
For EIFO, the investment marks its largest defence investment to date. The Danish state investment fund said European defence technology companies face a significant need for risk capital and highlighted DTCP’s decision to establish its Nordic headquarters in Denmark.
Peder Lundquist, CEO of EIFO: “There is a significant need for risk capital in European defence technology if we are to keep more companies on the continent. This is our largest defence investment so far and will help build a strong fund that invests precisely where the need for capital is greatest. I am particularly pleased that DTCP is establishing its Nordic headquarters in Denmark and will be working in close proximity to Danish companies.”
Danica, the Danish pension provider, is also backing the fund as European countries increase investment in defence and security. The organisation said the strategy combines technology, defence and growth-stage investment expertise, while identifying defence technology as a market experiencing structural growth.
Mads Kaagaard, CEO of Danica: “Defence technology is a market with strong structural growth driven by the rearmament of Europe and NATO countries, creating attractive return opportunities for our customers. At the same time, the investment supports important societal needs for enhanced security, growth, and resilience in Denmark and across Europe. The Fund combines deep expertise in technology, defence, and growth-stage investing, giving it a strong platform to unlock investment potential for the benefit of both our customers and society.”
SmartCap, Estonia’s state-backed investment organisation, is also among the fund’s investors, adding another Baltic dimension to DTCP’s European defence strategy.
The new Copenhagen office is expected to open in 2027 and will serve as DTCP’s Nordic headquarters. The firm says the location will strengthen its links with Danish and wider Nordic defence and technology ecosystems. The office will also support DTCP’s sourcing and work with companies across Northern Europe. According to DTCP, its relationships with EIFO and Danica will help connect the Danish and German defence technology ecosystems and build stronger European value chains.
The expansion comes as the Nordic region continues to develop its defence technology ecosystem, with Denmark, Finland, Norway and Sweden among the European countries increasing their focus on defence, security and dual-use technologies.
DTCP Defence has already completed two investments from the strategy, including one in Norway. Norwegian company Six Robotics develops autonomy and orchestration software for unmanned systems, while UK-based Kraken Technology Group develops uncrewed maritime platforms and payload technologies. DTCP said a third investment is currently underway but has not disclosed the company involved.
The fund also builds on DTCP’s previous investments in mission-critical and defence-related technology companies, including Quantum Systems and STARK Defence.
DTCP has established a dedicated investment team for the defence strategy, led by Partners Ole Aguirre and Georgia Watson. Aguirre has more than 25 years of experience across the armed forces and commercial defence and security sectors. His previous roles include Teledyne FLIR, Prox Dynamics and Bertel O. Steen Defence & Security. Watson brings more than a decade of experience in private equity, growth and venture investing. She previously worked as a Partner at Lakestar and spent seven years at Goldman Sachs across its Strategic Investments and Growth Equity teams.
The team will focus on identifying and supporting technology companies as they move through growth stages, while DTCP’s broader platform will provide additional investment and operational capabilities.
With €455 million secured at first close, investments already made in Norway and a Copenhagen headquarters planned for 2027, DTCP is positioning its new defence strategy with a clear connection to the Nordic and wider European technology ecosystem.
Read the orginal article: https://arcticstartup.com/dtcp-closes-first-e455m-of-its-dtcp-defence-fund-i/
