NATO has announced the selection of the investment team that will oversee its €1 billion deep tech venture fund. The NATO Innovation Fund (NIF) will be the world’s first multi-sovereign venture capital fund focused on supporting startups in the defense and security sectors. The fund aims to invest €1 billion euros over a 15-year period into early-stage companies and other venture capital funds developing emerging and disruptive technologies for military and defense applications.
The NIF will focus on several key areas, including artificial intelligence, big data processing, quantum technologies, autonomy, biotechnology and human enhancement, novel materials, energy, propulsion, and space. By funding innovative ventures in these fields, NATO hopes to strengthen its technological capabilities and enhance defense and security efforts.
Leading the senior management team for the NIF is Andrea Traversone, former managing partner at UK-based Amadeus Capital. Traversone will be joined by prominent venture capitalists Kelly Chen, Thorsten Claus, Patrick Schneider-Sikorsky, and Chris O’Connor from the US and UK.
The investment committee, responsible for overseeing the fund’s investments, will be led by Klaus Hommels, chairman at Swiss VC Lakestar. Hommels will guide the committee in making strategic investment decisions that align with NATO’s goals and objectives.
While the fund’s headquarters are yet to be finalized, Amsterdam in the Netherlands is currently the preferred location. The Dutch government has welcomed the establishment of the fund, anticipating increased access to capital for innovative Dutch startups. The presence of the NIF in the Netherlands will further bolster the country’s reputation as a hub for future-oriented solutions.
In addition to its Dutch base, NATO plans to set up regional offices for the fund in London and Warsaw, allowing for wider access to investment opportunities across Europe.
The launch of the NIF represents a significant milestone for NATO and underscores the organization’s commitment to harnessing emerging technologies for defense and security purposes. By collaborating with startups and venture capital funds, NATO aims to foster innovation and stay at the forefront of technological advancements in the defense sector.
The NATO Innovation Fund is set to be introduced this week at NATO’s annual summit in Vilnius. Its establishment marks a new era of cooperation between NATO and the venture capital community, facilitating the development of disruptive technologies that will shape the future of defense.
