Lakestar's $300M Fund Signals a New Era for European Defense Tech

Jan de Vries · 2026-07-17

European venture capital firm Lakestar just closed its Lakestar Resilience I fund at $300 million. And here's the thing: it was oversubscribed. That means investors were practically lining up to get in, even though the firm had already set a pretty ambitious target. This isn't just another fund. Lakestar calls it Europe's largest institutional venture fund built exclusively for dual-use and defense technology companies. And it's all raised from private capital, no government money involved. ### Who's Joining the Advisory Board? The firm also announced some serious heavy hitters joining its advisory board: Sir Nicholas Carter, General Volker Wieker, former US Secretary of State Mike Pompeo, and Baroness Martha Lane Fox. That's a mix of military, diplomatic, and tech expertise that gives you a sense of the scale of ambition here. 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." ### A Quick Look at Lakestar's Track Record Founded in 2012 by Dr. Hommels, Lakestar is a leading pan-European VC firm with over $6 billion in assets under management. Its platform spans institutional funds and personal investments across stages and geographies. The firm invests from early-stage venture funding all the way to growth, supporting companies with capital, expertise, and long-term partnerships. Its portfolio reads like a who's who of tech: Airbnb, Isar Aerospace, Helsing, Spotify, Klarna, Revolut, SumUp, Coinbase, and Neko Health. Just this week, Stockholm-based HealthTech company Neko Health closed a $700 million Series C round, with Lakestar participating. That's a nice reminder that while defense is the headline, the firm's reach goes way beyond. ### Why Defense Tech Now? Lakestar Resilience focuses on companies building technologies that strengthen Europe's security and strategic capabilities. And the timing feels almost urgent. In a LinkedIn post, Dr. Hommels shared some backstory: "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 This Means for European Startups Ninja Struye de Swielande, Partner and Chief Communication Officer at Lakestar, summed it up: "Resilience I marks an important milestone in our mission to strengthen European resilience." In her own 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." This fund is a clear signal: defense and dual-use tech are no longer taboo in European VC. They're becoming a priority. For startups working on everything from cybersecurity to aerospace, that could mean a whole new pool of capital and expertise. The bottom line? Lakestar is betting big on Europe's ability to build its own defense capabilities through technology. And with $300 million in the bank and a star-studded advisory board, they're not messing around.