The European Investment Fund and the NATO Innovation Fund will work together to attract private capital into defence start-ups
Photo credits: European Union
The European Investment Fund (EIF) and the NATO Innovation Fund (NIF) have announced plans to cooperate to support start-ups, SMEs and midcaps in the defence and security sectors, with the aim of crowding in private capital.
EIF, part of the European Investment Bank (EIB) signed a memorandum of understanding with NIF, a €1 billion venture capital fund backed by 24 NATO allies.
EIF chief executive Marjut Falkstedt said the primary objective is to develop the defence ecosystem. “Our goal is to raise awareness, get investors attracted into this asset class, and exchange information so that we all learn as we go,” she said. Venture capitalists are often hesitant to invest in the defence sector.
The cooperation will involve…
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