National · Poland · Chrobry S.A. (wholly owned by Bank Gospodarstwa Krajowego), financed from the Polish Recovery and Resilience Plan (KPO)
Chrobry S.A. was established by BGK in 2026 to deploy the equity component of the KPO Security and Defence Fund, with roughly PLN 7 billion for direct capital investments. It acts as a passive financial investor taking minority stakes of up to 50% minus one share in companies building defence and security technologies and production capacity. Companies submit projects through an application form on the company's website, evaluated against published investment criteria.
The first Polish state equity vehicle dedicated to defence and security, and an alternative to VC for capital-intensive defence-tech companies that want a minority state co-investor rather than debt.
Danish Ministry of Defence / Danish Ministry of Defence Acquisition and Logistics Organisation (FMI/DALO)
The single largest pot of near-term Danish defence procurement money, with an explicit invitation for industry to propose what to buy. Speed to fielding is the main selection criterion.
German Federal Government (BMVg and BMI)
One of very few German vehicles paying companies directly for security and defence-relevant research, with multi-million-euro phased contracts. Procurement-law process means longer lead times; watch the partnering events.
Next deadline 6 Oct
Industrial Development Agency (Agencja Rozwoju Przemysłu S.A.), Polish state development agency
A flexible state lender willing to bank defence-industry companies that commercial banks often avoid, useful for contract financing and liquidity in scaling defence production. No fixed calls: financing is negotiated case by case.