Lakestar Closes $300 Million Fund to Back European Defense Tech Startups

Jan de Vries · 2026-07-17

European venture capital firm Lakestar has just closed its Resilience I fund at $300 million (€262.2 million). The fund was oversubscribed, meaning investor interest far exceeded its original target. This marks a major shift in how investors view defense technology. ### What Makes This Fund Different? Lakestar describes Resilience I as Europe's largest institutional venture fund built exclusively for dual-use and defense technology companies. And it's all raised from private capital, not government money. That's a big deal because it shows private investors are now willing to back technologies that strengthen national security. The firm also announced that some heavy hitters have joined its advisory board: - Sir Nicholas Carter, former UK Chief of the Defence Staff - General Volker Wieker, former German Chief of Defence - Mike Pompeo, former US Secretary of State - Baroness Martha Lane Fox, British entrepreneur and philanthropist This lineup gives the fund serious credibility and connections on both sides of the Atlantic. ### The Vision Behind the Fund Dr. Klaus Hommels, founder and chairperson of Lakestar, put it simply: "Freedom does not come for free. Europe needs sovereign technology capital in the defense and dual-use sectors." He's been saying this for years. In a LinkedIn post, he noted, "Almost a decade ago, I made my first defense investments, at a time when the category was considered uninvestable by many." Lakestar was founded in 2012 by Dr. Hommels and has grown into a leading pan-European VC firm. It now manages over $6 billion (€5.2 billion) in assets. Its portfolio includes household names like Airbnb, Spotify, Klarna, Revolut, Coinbase, and Neko Health. Yes, the same Neko Health that just raised $700 million in Series C funding this week, with Lakestar participating. ### Why Defense Tech Is Hot Right Now Ninja Struye de Swielande, Partner and Chief Communication Officer at Lakestar, summed up the investor mood: "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." This fund is about more than just returns. It's about building technologies that make Europe more resilient. Think cybersecurity, advanced manufacturing, space tech, and AI for defense applications. These aren't just military tools; they have civilian uses too. That's the "dual-use" part. ### What This Means for Startups If you're a founder building in defense or dual-use tech, this fund is a signal. There's now serious private capital available for your kind of work. Lakestar invests across stages, from early-stage venture funding to growth. They provide capital, expertise, and long-term partnerships. Their track record with companies like Isar Aerospace and Helsing shows they're committed to the space. The closing of Resilience I could encourage other VCs to follow suit. It might also make it easier for defense startups to raise money in Europe, where the category was once considered taboo. ### The Bigger Picture Europe is waking up to the need for technological sovereignty. The war in Ukraine, rising geopolitical tensions, and supply chain vulnerabilities have all highlighted gaps. Lakestar's fund is a bet that private capital can help fill them. And with $300 million to deploy, it's a significant bet. For US-based professionals watching this space, it's worth noting that European defense tech is becoming more investable. The same trends driving US defense innovation are playing out across the Atlantic. This fund could produce some of the next big names in the sector.