Dutch VC firm Keen Venture Partners has announced the first close of its €150 million European defence tech fund, which will provide capital to startups and scale-ups developing defence and security solutions across NATO countries in Europe.
- Launched in 2016 by Giuseppe Lacerenza, Alexander Ribbink, and Ties Klinkhamer, Keen Venture Partners is an Amsterdam-based venture capital firm investing in early-stage European technology companies.
- The firm operates two main tracks: Technology, covering enterprise software, vertical SaaS, data & analytics, productive AI, and infrastructure tech, and Defence and Security, focusing on deeptech areas such as autonomous systems, robotics, spacetech, and frontier technologies.
- Keen backs startups from seed to Series B with investments ranging from €1 million to €8 million, following a thesis-driven, hands-on strategy that prioritizes founder-market fit, defensibility, user-centric design, European scale, interoperability, and commercial ambition.
- Its portfolio spans over 30 companies, including Avalor AI (now Intelic AI) and Perciv AI, and the firm leverages a pan-European network of policymakers, military leaders, and industry experts to accelerate growth and adoption.
- In May 2025, the firm secured a €40 million commitment from the European Investment Fund (EIF) for its new European Defence and Security Tech Fund, which aims to support early-stage startups in dual-use and defence technologies across Europe.
- The fund plans to invest €1 million to €10 million in more than 25 startups and scale-ups, targeting areas such as cybersecurity, autonomous systems, deterrence, and space, while collaborating with other venture funds to strengthen Europe’s defence technology ecosystem.
"This milestone was made possible thanks to a unique mix of leading institutional investors and private capital, all aligned on one clear belief: Europe needs to build domestic defence and deep-tech capabilities, and now is the time to do it," explains Giuseppe Lacerenza, Partner at Keen Venture Partners.
- The new fund received backing from the EIF and Dutch pension fund PME, each contributing €40 million, alongside research institute TNO, ABN AMRO, and the regional development agency LIOF.
