European Defense Tech Fund Secures €150M Amidst Rising Security Concerns
November 21, 2025, 9:34 am
Location: Netherlands, South Holland, The Hague
Employees: 1001-5000
Founded date: 1932
Location: Netherlands, North Holland, Amsterdam
Employees: 1-10
Founded date: 2014
Keen Venture Partners closes Europe's largest defense tech VC fund. The fund aims to bolster European security with investments in cybersecurity, autonomous systems, and more. Geopolitical tensions drive increased defense spending.
Europe is facing heightened security threats. Escalating tensions underscore the urgent need for robust defense capabilities. Investment in European defense technology is now critical. Keen Venture Partners has launched a significant initiative.
Keen Venture Partners has announced the first close of its European defense and security technology fund. The fund secured over €150 million. It's now the largest defense tech venture capital fund in Europe. The fund will target startups and scale-ups. They must develop defense and security technologies within European NATO member states.
Founded in 2016, Keen Venture Partners invests in early-stage European tech companies. The firm is based in Amsterdam. Keen typically invests €1–€8 million from seed to Series B. Their approach focuses on founder-market fit and defensibility. User-centric design and European scalability also matter. Commercial ambition is key. Their portfolio includes Avalor AI (now Intelic AI) and Perciv AI. They are supported through a pan-European network. This network includes policymakers, military leaders, and industry partners.
The European Investment Fund (EIF) committed €40 million to the fund. This commitment formed the backbone of the first close. Dutch pension fund PME also contributed €40 million. TNO (Netherlands Organisation for Applied Scientific Research) also joined. ABN AMRO and LIOF also committed funds.
Keen’s new fund plans to invest €1–€10 million in over 25 companies. The focus is on cybersecurity, autonomous systems, and deterrence technologies. Space capabilities are also a target. The firm expects collaboration with other VC funds.
Europe needs to build domestic defense capabilities. It also needs deep-tech capabilities. Now is the time to act, according to Giuseppe Lacerenza, Partner at Keen Venture Partners.
Other European venture capital firms are targeting defense. They are also targeting security and dual-use technologies. The goal is Europe’s strategic autonomy. Rockaway Ventures recently closed its second fund at approximately €55 million. They focus on transformative tech, including defense and dual-use technologies. Presto Ventures, in partnership with Czechoslovak Group (CSG), launched the Presto Tech Horizons fund. It targets €150 million. They invest in startups developing dual-use solutions across NATO and allied countries.
Europe can no longer wait to strengthen its defense capabilities. Investing in European technology is essential. The war in Ukraine demonstrates the impact of software-driven technologies. AI and autonomous systems now significantly impact effectiveness on the modern battlefield.
European startups are building these technologies. However, only one quarter of European defense procurement budgets stays within the EU. Innovators lack both capital and access to initial defense customers.
Keen Venture Partners supports DeepTech ventures with a thesis-led approach. The firm operates out of Amsterdam and London. They collaborate with European tech entrepreneurs before formal investment.
Keen backs companies developing dual-use technology. They also back defense-first companies building critical capabilities directly for defense. The fund focuses on cybersecurity, autonomous systems, and deterrence technologies. Space applications are also a focus.
Keen aims to invest in over 25 companies from Seed to Series B. Emphasis is on Series A. Investments range from €1 to €10 million. Previous defense and security investments include EclecticIQ, Intelic, and Perciv AI. Keen expects extensive collaboration with other European VC firms.
Keen is expanding its team. They are hiring additional investment professionals. Keen was raising €125 million to strengthen Europe’s defense-tech ecosystem. The fund will back dual-purpose technologies in NATO countries. It will support 20-25 startups from seed to Series B. Keen secured a €40 million commitment from the European Investment Fund (EIF) for its European Defence & Security Tech Fund.
Europe is facing heightened security threats. Escalating tensions underscore the urgent need for robust defense capabilities. Investment in European defense technology is now critical. Keen Venture Partners has launched a significant initiative.
Keen Venture Partners has announced the first close of its European defense and security technology fund. The fund secured over €150 million. It's now the largest defense tech venture capital fund in Europe. The fund will target startups and scale-ups. They must develop defense and security technologies within European NATO member states.
Founded in 2016, Keen Venture Partners invests in early-stage European tech companies. The firm is based in Amsterdam. Keen typically invests €1–€8 million from seed to Series B. Their approach focuses on founder-market fit and defensibility. User-centric design and European scalability also matter. Commercial ambition is key. Their portfolio includes Avalor AI (now Intelic AI) and Perciv AI. They are supported through a pan-European network. This network includes policymakers, military leaders, and industry partners.
The European Investment Fund (EIF) committed €40 million to the fund. This commitment formed the backbone of the first close. Dutch pension fund PME also contributed €40 million. TNO (Netherlands Organisation for Applied Scientific Research) also joined. ABN AMRO and LIOF also committed funds.
Keen’s new fund plans to invest €1–€10 million in over 25 companies. The focus is on cybersecurity, autonomous systems, and deterrence technologies. Space capabilities are also a target. The firm expects collaboration with other VC funds.
Europe needs to build domestic defense capabilities. It also needs deep-tech capabilities. Now is the time to act, according to Giuseppe Lacerenza, Partner at Keen Venture Partners.
Other European venture capital firms are targeting defense. They are also targeting security and dual-use technologies. The goal is Europe’s strategic autonomy. Rockaway Ventures recently closed its second fund at approximately €55 million. They focus on transformative tech, including defense and dual-use technologies. Presto Ventures, in partnership with Czechoslovak Group (CSG), launched the Presto Tech Horizons fund. It targets €150 million. They invest in startups developing dual-use solutions across NATO and allied countries.
Europe can no longer wait to strengthen its defense capabilities. Investing in European technology is essential. The war in Ukraine demonstrates the impact of software-driven technologies. AI and autonomous systems now significantly impact effectiveness on the modern battlefield.
European startups are building these technologies. However, only one quarter of European defense procurement budgets stays within the EU. Innovators lack both capital and access to initial defense customers.
Keen Venture Partners supports DeepTech ventures with a thesis-led approach. The firm operates out of Amsterdam and London. They collaborate with European tech entrepreneurs before formal investment.
Keen backs companies developing dual-use technology. They also back defense-first companies building critical capabilities directly for defense. The fund focuses on cybersecurity, autonomous systems, and deterrence technologies. Space applications are also a focus.
Keen aims to invest in over 25 companies from Seed to Series B. Emphasis is on Series A. Investments range from €1 to €10 million. Previous defense and security investments include EclecticIQ, Intelic, and Perciv AI. Keen expects extensive collaboration with other European VC firms.
Keen is expanding its team. They are hiring additional investment professionals. Keen was raising €125 million to strengthen Europe’s defense-tech ecosystem. The fund will back dual-purpose technologies in NATO countries. It will support 20-25 startups from seed to Series B. Keen secured a €40 million commitment from the European Investment Fund (EIF) for its European Defence & Security Tech Fund.