Lakestar Raises $300 Million Fund for European Defense and Dual-Use Tech Startups

Jan de Vries · 2026-07-17

European venture capital firm Lakestar just closed its Lakestar Resilience I fund at a massive $300 million (€262.2 million). The fund was oversubscribed, meaning investor demand blew past the original target. That's a strong signal that big money is betting on defense and dual-use technology in Europe right now. ### What's This Fund All About? Lakestar describes Resilience I as Europe's largest institutional venture fund built exclusively for dual-use and defense tech companies. And here's the kicker: it's raised entirely from private capital, not government money. 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. 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." That's a pretty direct call to action for investors who've been sitting on the sidelines. ### A Quick Look at Lakestar's Track Record Founded in 2012 by Dr. Hommels, Lakestar has grown into a leading pan-European VC firm. It now manages over $6 billion (€5.2 billion) in assets. The firm invests across stages, from early seed funding to growth rounds, backing companies with capital, expertise, and long-term partnerships. Some of its portfolio reads like a who's who of tech unicorns: - Airbnb - Spotify - Klarna - Revolut - Coinbase - Isar Aerospace - Helsing - SumUp - Neko Health Just this week, Stockholm-based HealthTech company Neko Health closed a $700 million (€612.7 million) Series C round, with Lakestar participating. So the firm is actively putting money to work. ### Why Defense Tech Now? Lakestar Resilience focuses on companies developing technologies that strengthen Europe's security and strategic capabilities. This isn't a new interest for Dr. Hommels. In a LinkedIn post, he revealed: "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." ### Investor Sentiment Is Shifting Ninja Struye de Swielande, Partner and Chief Communication Officer at Lakestar, called Resilience I an important milestone. She shared on LinkedIn: "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." She continued: "Investors increasingly recognise that European security requires long-term thinking, sustained investment, and strong technology champions." ### What This Means for US Investors For US-based professionals watching European startup incorporation and defense tech, this fund signals a major shift. European VCs are now building dedicated vehicles for dual-use tech, creating new opportunities for transatlantic collaboration. If you're looking at European startups in defense, cybersecurity, or aerospace, this could open doors for partnerships or co-investments. Lakestar's move also highlights a growing trend: private capital stepping up where government funding has been slow. That's good news for founders building hard tech in Europe. ### Quick Takeaways - Lakestar closed its Resilience I fund at $300 million, oversubscribed. - Focus is on defense and dual-use technology companies in Europe. - Advisory board includes former US Secretary of State Mike Pompeo. - Lakestar manages over $6 billion in total assets. - Portfolio includes Airbnb, Spotify, Klarna, and more. This is a big deal for the European startup ecosystem. If you're tracking EU Inc news or the EU Inc proposal, this fund shows that venture capital is flowing into strategic sectors. Keep an eye on Lakestar's next moves.