Dutch VC firm Keen Venture Partners has landed a major investment boost as the European Investment Fund (EIF) announced today a €40 million commitment to its European Defence and Security Tech Fund.
As global tensions heighten and technological sovereignty becomes increasingly critical, this marks a significant milestone in European efforts to build a robust defence innovation ecosystem.
Alexander Ribbink and Giuseppe Lacerenza, Partners at Keen Venture Partners say: “The team at Keen has a long commitment to and investments in defence and defence technology. The opportunity to add the power of tech entrepreneurs with the full support of venture capital to the European defence ecosystem is huge. A stronger and safer Europe needs the resourcefulness and grit that only entrepreneurs can bring. We are proud to be at the forefront of this trend, and to be strongly supported by the EIF“.
Keen Venture Partners, founded in 2016, has built a reputation for supporting DeepTech ventures with a thesis-led approach. The firm operates out of Amsterdam and London and is known for actively collaborating with European tech entrepreneurs long before a formal investment.
The new fund will capitalise on Keen’s access to a robust advisory network of military leaders, industry veterans, and policymakers to help accelerate innovation in this strategically vital field.
The fund targets early-stage startups across Europe operating in sectors such as cybersecurity, information superiority, robotics, AI, autonomous systems, and space technology. In particular, it seeks to foster innovation in satellite communication protection, space asset defence, and satellite imagery analysis.
The investment will be pan-European, with activity expected in the United Kingdom, Turkey and Norway, signalling a continental effort toward modernising and securing Europe’s defence capabilities.
The EIF’s investment is part of a broader effort to expand its role in Europe’s defence and security sectors. This is the first equity deal under its newly introduced Defence Equity Facility and also benefits from the InvestEU Space mandate. The move reflects an ongoing pivot by the European Investment Bank Group (of which the EIF is part) towards strengthening Europe’s security resilience by supporting ventures at the intersection of technology and defence.
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.”
This investment comes at a time when the EIB Group has significantly broadened the scope of defence and security projects eligible for financing, a change announced earlier this March.
Executive Vice-President for Prosperity and Industrial Strategy Stephane Séjourné said: “Strengthening Europe’s defence technological and industrial base is about securing our strategic autonomy and protecting our citizens—on land, at sea, in the air, in cyberspace, and in space. It’s about ensuring that European companies can deliver the technologies we need. We are moving from declarations to delivery, with investments to match our ambition.”
Keen’s expanding portfolio already includes over 30 startups and scale-ups from across Europe, and with this latest EIF-backed initiative, the firm is set to further cement its role as a key player in bolstering the continent’s strategic tech edge.