Keen’s fund focuses on early-stage companies in the defence and security sector, particularly those developing technologies in cyber defence, AI, robotics, autonomous systems, and space security. The investment aims to boost capital availability for ventures supporting Europe’s defence innovation and strategic autonomy.
The Defence Equity Facility is a €175 million initiative, co-funded by €100 million from the European Defence Fund and €75 million from the EIF. It is implemented under the InvestEU programme and forms a core element of the EU Defence Innovation Scheme (EUDIS), targeting the development of a private investment ecosystem for defence SMEs.
“This investment in Keen Ventures is an important milestone, which demonstrates our ambition to improve access to finance for the defence industry, and in particular new defence players,” said Commissioner Andrius Kubilius. Executive Vice-President for Prosperity and Industrial Stephane Séjourné added, “We are moving from declarations to delivery, with investments to match our ambition.”
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 Europe’s overall security and resilience.”
Keen Venture Partners, with offices in Amsterdam and London, has built a strong presence in defence and deep tech. “A stronger and safer Europe needs the resourcefulness and grit that only entrepreneurs can bring,” said Alexander Ribbink and Giuseppe Lacerenza, Partners at Keen, adding, “We are proud to be at the forefront of this trend, and to be strongly supported by the EIF.”
The Defence Equity Facility is expected to attract further private investment, potentially mobilising around €500 million in support of innovative European defence companies. It also complements EUDIS initiatives that offer grants, business coaching, and acceleration programmes for defence-focused SMEs and start-ups.
The European Defence Fund, with a €7.3 billion budget for 2021–2027, underpins these efforts by promoting collaborative, innovative, and interoperable defence projects across EU Member States. The InvestEU Fund, implemented by financial partners using an EU budget guarantee, plays a vital role in scaling such investments to support long-term strategic goals.
Source: European Commission.
