European venture capital firm Lakestar has closed its Resilience I fund at €262.2 million, dedicated to backing early-stage defense and dual-use technology companies across Europe.
The fund will invest in startups developing technologies with both military and civilian applications, including cybersecurity, drone systems, satellite technology, AI for defense, and advanced materials. Lakestar joins a growing list of European VC firms launching dedicated defense funds as governments across the continent increase military spending.
Europe has seen a surge in defense tech investing since 2022, driven by geopolitical tensions and government commitments to boost defense budgets. Lakestar’s fund targets the gap between early-stage innovation and larger defense primes, providing capital to startups that might otherwise struggle with long government procurement cycles.
“Europe needs to build its own defense technology base,” Lakestar said in its announcement. “We believe the next generation of defense companies will emerge from the venture ecosystem.”
The fund has already made several investments, though Lakestar has not disclosed specific portfolio companies. The firm’s broader portfolio includes investments in AI, fintech, and health tech companies across Europe.
