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<\/p>\nAs Europe faces an unprecedented level of security threat, innovation in defence, security, and space technologies has become a strategic imperative. The EIB Group has stepped up its support to the security and defence industry in 2024, widening the scope of defence and security projects eligible for financing\u00a0earlier this March.<\/p>\n
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The European Investment Fund (EIF) today announced a pioneering effort to enhance the availability of capital for defence-focused ventures in Europe, with a \u20ac40 million investment in Keen’s European Defence and Security Tech Fund. The fund, with a focus on early-stage companies within the defence and security technology sector, aims to support companies that are pioneering solutions in areas such as information superiority, cyber defence, robotics, AI, autonomous systems and space technologies such as securing satellite communications, satellite image analysis, and defence of space assets. The Fund’s investments will be pan-European, with exposure to the United Kingdom, Turkey and Norway.<\/p>\n
Executive Vice-President for Prosperity and Industrial Strategy\u00a0Stephane<\/strong>\u00a0S\u00e9journ\u00e9<\/strong>\u00a0said:\u00a0\u201cStrengthening Europe’s defence technological and industrial base is about securing our strategic autonomy and protecting our citizens\u2014on 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.\u201d<\/em><\/p>\n Commissioner for Defence and Space,\u00a0Andrius Kubilius<\/strong>, said:\u00a0“We are proud to collaborate with the EIF on the deployment of the Defence Equity Facility, which is a cornerstone instrument to foster the development of an ecosystem of private funds investing in defence in the EU. The 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.”<\/em><\/p>\n Marjut Falkstedt<\/strong>, Chief Executive of the EIF, stated,\u00a0“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.”<\/em><\/p>\n This investment is the first of its kind under the Defence Equity Facility and the InvestEU Space mandate and builds upon EIF’s previous investments in generalist venture capital funds with a partial focus on defence.<\/p>\n Alexander Ribbink<\/strong>, and\u00a0Giuseppe Lacerenza<\/strong>\u00a0Partners at Keen Venture Partners:\u00a0\u2018The team at Keen has a long commitment to and investments in\u00a0<\/em>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’.<\/em><\/p>\n Background information<\/strong><\/p>\n The\u00a0European Investment Fund<\/strong>\u00a0(EIF)<\/strong>\u00a0is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of sustainability, innovation, research and development, entrepreneurship, growth and employment.<\/p>\n