A $300 Million European VC Fund Just Closed for Defense Tech Startups

Jan de Vries · 2026-07-17

European venture capital firm Lakestar just closed its new Lakestar Resilience I fund at $300 million. And here's the thing: the fund was oversubscribed. Investor interest blew past the original target, which tells you something about the climate right now. ### A Fund Built for Defense and Dual-Use Tech Lakestar describes this as Europe's largest institutional venture fund built exclusively for dual-use and defense technology companies. It's also raised entirely from private capital, which is notable in a space that often relies on government backing. The firm also announced some heavy hitters joining its advisory board: - Sir Nicholas Carter, former UK Chief of the Defence Staff - General Volker Wieker, former Chief of Staff of the German Armed Forces - Mike Pompeo, former US Secretary of State - Baroness Martha Lane Fox, British entrepreneur and crossbench peer Dr. Klaus Hommels, founder and chairperson of Lakestar, put it bluntly: "Freedom does not come for free. Europe needs sovereign technology capital in the defence and dual-use sectors." ### The Bigger Picture: Why This Matters Now Founded in 2012 by Dr. Hommels, Lakestar is a leading pan-European venture capital firm with over $6 billion in assets under management. Its platform spans institutional venture capital funds and personal investments across stages and geographies. The firm invests across stages, from early-stage venture funding to growth, supporting companies as they expand through capital, expertise, and long-term partnerships. Its portfolio includes some recognizable names: - Airbnb - Isar Aerospace - Helsing - Spotify - Klarna - Revolut - SumUp - Coinbase - Neko Health Earlier this week, Stockholm-based HealthTech company Neko Health announced the completion of its $700 million Series C funding round, with Lakestar participating. Lakestar Resilience invests in companies developing the technologies that strengthen Europe's security and strategic capabilities. ### A Mission Years in the Making In a LinkedIn post announcing this development, Dr. Hommels reflected on his journey. "Almost a decade ago, I made my first defence investments, at a time when the category was considered uninvestable by many." He added, "Two years later, in a keynote I called 'Cold War 2 and the Role of Tech', I laid out a conviction that has guided me ever since: sovereignty and advancing Europe's capabilities in critical technologies should be a core concern for all of us." "This is the formalisation of a mission I first articulated in 2019," he continued. "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." Ninja Struye de Swielande, Partner and Chief Communication Officer, and Head of IR at Lakestar, stated that Resilience I marks an important milestone in the VC firm's mission to strengthen European resilience. 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 recognise that European security requires long-term thinking, sustained investment, and strong technology champions." ### What This Means for US-Based Professionals For professionals in the US watching European startup incorporation and EU Inc news, this fund signals a clear shift. European defense tech is no longer a niche play. It's becoming a mainstream asset class, backed by institutional capital and high-profile advisors. If you're tracking where the next wave of innovation in dual-use technologies will come from, keep an eye on Lakestar's portfolio companies.