Amsterdam’s Keen Venture Partners is raising Benelux’s first defence tech investment fund: Here’s why and how much 

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On Tuesday, Amsterdam-based Keen Venture Partners, a venture capital firm, announced that it is raising its European defence and security tech fund.

It will be the first defence tech investment fund based in the Benelux region and aims to become one of the largest funds of its kind in Europe.

The Dutch VC plans to raise €125M to support 20 to 25 startups, helping them progress from seed stage to Series B.

The need for defence tech investment fund

Europe is facing a number of strategic and geopolitical challenges that make an investment in defence technology essential. 

NATO Secretary-General Mark Rutte emphasised the importance of preparing for potential conflict amid ongoing border threats and rising tensions with China.

The defence sector is evolving towards more commercial solutions that prioritise high volume and software integration.

This shift requires a modern, sustainable defence ecosystem where innovative startups play a crucial role.

However, they need venture capital to break barriers and scale their solutions. Keen has assembled a top-tier European advisory board featuring renowned experts from the military, political, and policy fields.

“The shifting geopolitical landscape has created a critical need for Europe to become more self-reliant in defence and security. There is a real opportunity to build a stronger European defence industry,” says Alexander Ribbink, partner at Keen Venture Partners.

Keen Venture Partners: Contributing to the European defence tech ecosystem

Keen fund will focus on “dual-use” defence and security technologies in European NATO countries.

These technologies serve both military and civilian purposes, such as drones and radar systems.

For example, these technologies could be applied in disaster response or environmental monitoring, next applications in the defence tech industry. Keen’s portfolio already includes EclectricIQ, Perciv.AI, and Avalor AI.

The number of defence startups is growing rapidly, and since 2017, Europe has seen more than 100 exits in the sector.

“We are convinced that entrepreneurs and venture capital can strongly contribute to the safety of Europe. They are well-positioned to build and scale the innovative and cost-efficient solutions we need. Venture capital is essential to support and fuel entrepreneurship in the European defence industry, which will have lasting benefits far beyond the defence sector itself,” adds Ribbink.

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Vigneshwar Ravichandran

Vigneshwar has been a News Reporter at Silicon Canals since 2018. A seasoned technology journalist with almost a decade of experience, he covers the European startup ecosystem, from AI and Web3 to clean energy and health tech. Previously, he was a content producer and consumer product reviewer for leading Indian digital media, including NDTV, GizBot, and FoneArena. He graduated with a Bachelor's degree in Electronics and Instrumentation in Chennai and a Diploma in Broadcasting Journalism in New Delhi.

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