BAE Systems-backed venture capital firm Expeditions has closed a €197 million fund to support European defense technology startups. The firm is based in Warsaw and is backed by BAE Systems and the NATO Innovation Fund, which also participates in the effort to develop more “sovereign” military capabilities in Europe.
The fund is intended to finance the next wave of defense-focused companies, continuing a broader investment surge in European defense technology. Both outlets describe Expeditions’ fundraising as part of a period of accelerated venture activity in the sector. Bloomberg also notes that the fund targets projects aimed at building defense-related technologies within Europe. The Next Web adds that the raise follows increased involvement from major defense players, including BAE Systems’ reported €50 million commitment to external venture capital initiatives, along with rapid growth of defense-tech investment across the continent.
The reported figure is €197 million (about $225 million), and the announcement centers on Expeditions’ role in channeling capital into European startups supported by BAE Systems and NATO-affiliated funding.
