Disciplined Capital for Defence and Defence-Adjacent Sectors
Strengthening NATO capabilities and Europe's technological sovereignty through investments in profitable, revenue-generating companies or those with secured commitments.
The rearmament of Europe
Structural Growth in Defence Spending
European defence budgets are increasing rapidly as NATO commitments rise and nations prioritize national security infrastructure.
Technology Transformation of Warfare
Modern defence increasingly relies on electronic warfare, satellites, AI, and autonomous systems, necessitating rapid technological deployment.
European Strategic Autonomy
EU and NATO are prioritizing domestic defence capabilities and resilient supply chains to ensure long-term technological sovereignty.
Industrial Capacity Gap
European supply chains must scale quickly to support modern defence systems, creating significant opportunities for industrial expansion.
What We Look For
Sector Focus
Defence and dual-use technologies across electronic warfare, cybersecurity, satellite communications, UAVs, and smart-weapon subsystems.
Target Stage
Growth-stage and scale-up companies with established products, proven revenue models, and clear commercial offtake — not early-stage or pre-revenue.
Geography
EU and NATO ecosystem, with ownership structures eligible for European Defence Fund participation and aligned with EU and NATO security frameworks.
Established Operations
Profitable businesses or companies with secured government or commercial contracts — revenue-generating with visible and recurring commitment pipelines.
Investment Parameters
Deploying disciplined equity checks into mid-market companies, with capacity to follow on as portfolio companies scale or pursue add-on acquisitions.
Structured for patient capital with sufficient runway to drive operational improvements, execute build-and-build strategies, and realise full value at exit.
The fund requires board representation or observer rights at every portfolio company, ensuring meaningful influence over strategic decisions and exit provisions.
Investments structured as controlling or minority stakes, conditional on securing appropriate governance rights, shareholder protections, and defined exit provisions.