A $300 Million VC Fund Just Bet Big on European Defense Tech

Jan de Vries · 2026-07-17

European venture capital firm Lakestar just closed its Lakestar Resilience I fund at $300 million. The fund was oversubscribed, meaning investor interest blew past its original target. ### What Makes This Fund Different? Lakestar calls it Europe's largest institutional venture fund built exclusively for dual-use and defense technology companies. And here's the kicker: it was raised entirely from private capital, not government money. That's a big deal because defense tech has traditionally relied on public funding. The firm also announced some heavy hitters joining its advisory board: Sir Nicholas Carter, General Volker Wieker, former US Secretary of State Mike Pompeo, and Baroness Martha Lane Fox. These aren't just names—they bring serious geopolitical and strategic expertise. ### The Vision Behind the Bet Dr. Klaus Hommels, Lakestar's founder and chairperson, put it bluntly: "Freedom does not come for free. Europe needs sovereign technology capital in the defence and dual-use sectors." Lakestar was founded in 2012 by Dr. Hommels and has grown into a leading pan-European VC firm. It now manages over $6 billion in assets, spanning institutional funds and personal investments across stages and geographies. The firm invests from early-stage venture funding all the way to growth, backing companies with capital, expertise, and long-term partnerships. Its portfolio is a who's who of tech: Airbnb, Isar Aerospace, Helsing, Spotify, Klarna, Revolut, SumUp, Coinbase, and Neko Health. ### A Busy Week for Lakestar Earlier this week, Stockholm-based HealthTech company Neko Health closed a massive $700 million Series C round, with Lakestar participating. So it's been a banner week for the firm. Lakestar Resilience focuses on companies building technologies that strengthen Europe's security and strategic capabilities. Think advanced drones, cybersecurity, space tech, and AI for defense. ### The Long Game In a LinkedIn post, Dr. Hommels shared a glimpse of his journey: "Almost a decade ago, I made my first defence investments, at a time when the category was considered uninvestable by many. 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." He added: "This is the formalisation of a mission I first articulated in 2019. 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." ### What Investors Are Saying Ninja Struye de Swielande, Partner and Chief Communication Officer at Lakestar, called Resilience I a milestone in the firm's mission to strengthen European resilience. In her own LinkedIn post, she wrote: "Over the past months, we've spent time with LPs across Europe and western allies. What struck me most 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." ### Why This Matters for US Investors For US professionals watching European startup incorporation and EU Inc news, this fund signals something important: European defense tech is no longer a niche play. It's becoming a mainstream asset class with serious capital behind it. The involvement of figures like Mike Pompeo also suggests growing transatlantic alignment on security tech. If you're tracking where European innovation dollars are flowing, Lakestar Resilience I is a strong indicator that defense and dual-use technologies are the next big wave.