This $300 Million Fund Is Betting Big on Europe's Defense Tech Future

Jan de Vries · 2026-07-17

European venture capital firm Lakestar has officially closed its Lakestar Resilience I fund at $300 million (€262.2 million). The fund was oversubscribed, meaning investor demand far exceeded its original target—a clear sign that the market sees serious potential in defense and dual-use technology. Lakestar describes this as Europe's largest institutional venture fund built exclusively for dual-use and defense tech companies, raised entirely from private capital. They've also stacked their advisory board with heavy hitters: Sir Nicholas Carter, General Volker Wieker, former US Secretary of State Mike Pompeo, and Baroness Martha Lane Fox. ### Why This Matters Now Dr. Klaus Hommels, founder and chairperson of Lakestar, put it bluntly: "Freedom does not come for free. Europe needs sovereign technology capital in the defense and dual-use sectors." That quote captures the urgency behind this fund. For years, defense tech was considered a taboo investment category in Europe. But times have changed. Founded in 2012 by Dr. Hommels, Lakestar has grown into a pan-European powerhouse with over $6 billion (€5.2 billion) in assets under management. Their platform spans institutional venture capital funds and personal investments across stages and geographies. They invest from early-stage venture funding through growth, backing companies with capital, expertise, and long-term partnerships. ### Portfolio Highlights Lakestar's portfolio reads like a who's who of tech success stories: - Airbnb - Isar Aerospace - Helsing - Spotify - Klarna - Revolut - SumUp - Coinbase - Neko Health Just this week, Stockholm-based HealthTech company Neko Health announced a massive $700 million (€612.7 million) Series C funding round, with Lakestar participating. That's a strong signal that Lakestar isn't just about defense—they're backing innovation across the board. ### The Vision Behind Resilience I Lakestar Resilience focuses on companies developing technologies that strengthen Europe's security and strategic capabilities. Dr. Hommels shared his journey on LinkedIn: "Almost a decade ago, I made my first defense investments, at a time when the category was considered uninvestable by many." He recalled a keynote he called "Cold War 2 and the Role of Tech," where he laid out a conviction that sovereignty and advancing Europe's capabilities in critical technologies should be a core concern for everyone. "This is the formalization of a mission I first articulated in 2019," he added. "The founders we back have chosen to solve the hardest problems in the most consequential category of our time. They deserve a partner who is there for the long run, and capital that is patient, principled, and founder-centric." ### Investor Sentiment Ninja Struye de Swielande, Partner and Chief Communication Officer at Lakestar, noted that Resilience I marks an important milestone. In a LinkedIn post, she wrote: "Over the past months, we have been able to spend time with LPs across Europe and western allies. What struck me most in these conversations wasn't just the level of interest, but the depth of conviction behind it. Investors increasingly recognize that European security requires long-term thinking, sustained investment, and strong technology champions." ### What This Means for Startups For European startups working in defense, aerospace, cybersecurity, or dual-use technologies, this fund represents a major opportunity. Lakestar is signaling that they're willing to write big checks and offer patient capital to companies tackling hard problems. If you're building in this space, this could be the partner you've been waiting for. The closing of Resilience I is more than just a funding announcement—it's a statement that European tech is stepping up to address security challenges head-on. And with $300 million in the bank, Lakestar is ready to back the next generation of defense innovators.