NATO unveils venture capital fund for defense sector, Romania among partners
The North Atlantic Treaty Organization (NATO) recently announced an investment fund of EUR 1 billion aimed at startups developing technologies in the defense and security sectors in the 23 participating, including Romania.
The NATO Innovation Fund (NIF), as it was named, has secured contributions from 23 out of the 31 member countries of the military alliance, including Romania. Additionally, Sweden, a country in the process of joining NATO, has expressed its desire to participate in this fund and will contribute after joining the Alliance. As a result, the participating countries officially become limited partners of NATO's venture capital (VC) fund.
The NATO Innovation Fund, considered the world's first multi-sovereign venture capital fund, will invest in startups developing cutting-edge technological solutions to critical defense and security challenges. The fund will make direct investments in startups from any of the 23 participating allied states, including Romania. Moreover, the fund will make indirect investments in deep tech funds with a transatlantic impact.
The 23 participating states in the NIF are Belgium, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Turkey, and the United Kingdom.
The management team of the venture capital fund is led by Andrea Traversone (Managing Partner), Kelly Chen, Thorsten Claus, Patrick Schneider-Sikorsky, and Chris O'Connor. They have a combined experience of over six decades in technological innovation, military operations, and venture capital investments, according to NATO.
(Photo source: Steve Allen | Dreamstime)
