Warsaw-based Expeditions, an early-stage investor in European security, has announced over €100M committed to its Fund II, exceeding its initial target.

LPs in Fund II include the NATO Innovation Fund, the Polish Development Fund, and early executives from Skype, Wise, Bolt, and Snowflake.

Fund II has already invested in seven companies, including Lendurai, Orasio, and Q. The fund aims to reach a final close of €150 million by the end of 2025.

European economic and defence security

Europe is currently reindustrialising and trying to re-establish itself on the world stage.

To support this, Expeditions is investing in new founders who will shape the future of European economic and defence security.

Dr Mikolaj Firlej, co-founder and General Partner of Expeditions, says, “Europe no longer has the luxury of time or waiting on the sidelines. Our mission is to back the founders driving the economic and geopolitical renewal that will define Europe’s role in the 21st century. Expeditions backs the most high-potential founders at an early stage for the long-term, delivering patient capital and our team’s leading industry expertise. As threats to global security evolve, Europe is entering a golden age of innovation, and this fund will support the entrepreneurs driving it.”

The partners at Expeditions are also working to improve the European security landscape, encouraging policymakers, investors, and industry leaders to play a more active role in defence and innovation.

Expeditions: Investing in the future of European security

Expeditions was founded in 2021 by defence and technology experts.

It supports ambitious European innovators in security and deep tech, including industries like cybersecurity, defence, artificial intelligence, quantum technology, privacy, communication, and space.

The company has made a name for itself as a notable defence investor, launching its first fund in 2021, just before the current defence boom.

Its performance ranks it among the top 0.01% of funds worldwide, based on Cambridge Associates’ benchmarks.

Fund I invested in a number of startups, including Alpine Eagle, Blackwall, Comand AI, Disruptive Industries, Labrys, and Nu Quantum.

In total, Expeditions has backed 30 per cent of the top 30 most well-funded defence startups in Europe.