Who invests in European defence tech and dual-use

Sopra Steria Ventures has mapped European funds, accelerators, and incubators investing in defence and dual-use tech. The map features over a hundred companies and organizations from across Europe, with the UK, Germany, and France being the most represented.

Industry representatives are divided into venture funds, corporate ventures, public funds, and accelerators/incubators/networks.

The list features, in particular, Ukrainian companies such as D3 Ventures, ZAS Ventures, SMRK, Angel One Fund, ResistUA, and Darkstar.

However, the map does not include the state-backed cluster Brave1, which became the largest investor in Ukrainian defence tech last year, nor the funds Double Tap Investments, Oppenheimer Acceleration, the Defence Builder accelerator, and several other Ukrainian companies.

Sopra Steria Ventures is the venture capital arm of the French corporation Sopra Steria. It invests in early-stage startups across various verticals, including SaaS, AI, data, and VR, as well as aerospace and defence. The medium check ranges from €250,000 to €1.5M.