Earlybird and AVP have introduced E2D, a €500 million investment vehicle to provide late-stage funding for companies operating across critical security domains, as Vestbee was told.
- E2D, the European dual-use and defence growth fund, will support around 20 companies developing technologies in aerospace, maritime systems, autonomous platforms, and subsurface operations. It targets businesses combining commercial potential with military applications.
- The initiative comes amid rising defence spending across Europe, as governments expand long-term capability programmes. Despite increased public investment, many high-growth defence-tech firms continue to rely on US capital during later funding rounds.
- E2D seeks to reduce that reliance by providing substantial growth-stage financing within Europe, with an average investment size of about €25 million per company.
- Earlybird brings deeptech investment experience across Europe, while AVP contributes a growth-focused international platform. Together, they aim to build a capital base for companies developing technologies with both defence and industrial applications.
- The fund is backed by a mix of institutional investors and corporate limited partners, though participants have not been publicly disclosed. A strategic advisory group, including figures linked to NATO, European armed forces, and defence industry players, will provide sector guidance.
