EIF’s First-Ever Defence Fund Investment: €40M into Keen Venture Partners
In May 2025, the European Investment Fund announced a €40 million commitment to a new defence, security, and space technology fund managed by Amsterdam-based Keen Venture PartnersDealroom has a profile for this one. Try Dealroom →.
This marks the EIF’s first investment in a dedicated defence tech fund and is the inaugural deployment from its €175 million Defence Equity Facility, launched in early 2024.
The Keen fund aims to raise €125 million in total and will invest in 20 to 25 European startups from seed to Series B stages, focusing on areas such as cyber defence, robotics, AI, autonomous systems, and space technology.
The move signals a broader shift in Europe’s approach to defence technology investment, as geopolitical tensions and security concerns drive increased government and private sector interest.
Recent years have seen the emergence of European defence tech unicorns, like Quantum-Systems and Helsing, and a proliferation of new funds targeting the sector, including the €1 billion NATO Innovation FundDealroom has a profile for this one. Try Dealroom →.
The EIF’s investment is expected to catalyse further institutional, corporate, and private backing for European defence innovation, supporting the development of sovereign capabilities and reducing reliance on legacy systems and non-European suppliers.
Sources:
Sifted
EIF
Silicon Canals
Euractiv
J.V.
