Lakestar's $300 Million Bet on Europe's Defense Tech Future

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Lakestar closes $300 million Resilience I fund for European defense and dual-use tech, oversubscribed with strong investor demand. Key advisory board additions and a focus on sovereignty.

European venture capital firm Lakestar has closed its Resilience I fund at $300 million, significantly exceeding its original target as investor demand surged. The fund, described as Europe's largest institutional venture fund built exclusively for dual-use and defense technology companies, is backed entirely by private capital. ### A Fund for Sovereignty and Security Dr. Klaus Hommels, founder and chairperson of Lakestar, made his stance clear: "Freedom does not come for free. Europe needs sovereign technology capital in the defense and dual-use sectors." This fund is designed to invest in companies that strengthen Europe's security and strategic capabilities, from early-stage startups to growth-stage firms. The fund's advisory board now includes heavyweights like Sir Nicholas Carter, General Volker Wieker, former US Secretary of State Mike Pompeo, and Baroness Martha Lane Fox. Their involvement signals the fund's ambition to bridge defense, technology, and policy. ### Lakestar's Track Record Founded in 2012, Lakestar manages over $6 billion in assets. Its portfolio reads like a who's who of European tech: Airbnb, Spotify, Klarna, Revolut, Coinbase, and defense-focused firms like Isar Aerospace and Helsing. Just this week, Lakestar participated in Neko Health's $700 million Series C round, showing its continued commitment to health tech alongside defense. ### Why This Matters Now Dr. Hommels has been investing in defense for nearly a decade, long before it became mainstream. In a LinkedIn post, he recalled: "Almost a decade ago, I made my first defense investments, at a time when the category was considered uninvestable by many." He described Resilience I as the formalization of a mission he first outlined in 2019. Ninja Struye de Swielande, Partner and Head of IR at Lakestar, added that the fund's success reflects a shift in investor mindset: "Investors increasingly recognize that European security requires long-term thinking, sustained investment, and strong technology champions." ### Key Takeaways for EU Inc Observers - **Oversubscribed demand**: The fund raised $300 million, beating its target, showing strong institutional appetite for defense tech. - **Dual-use focus**: Technologies that serve both civilian and military purposes are the sweet spot. - **Patient capital**: The fund is designed for long-term, founder-centric investments. For US-based professionals watching EU Inc developments, this fund signals that European defense tech is no longer a niche play. It's becoming a core part of the continent's startup ecosystem.

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