EU programmes · European Investment Fund with the European Commission, under InvestEU
A fund-of-funds initiative launched in January 2024 and managed by the EIF to mobilise private capital into Europe's defence innovation ecosystem. It invests in European VC, PE and private credit funds that commit to the defence target area, with commitments so far including Keen Venture Partners (€40 million) and Sienna Hephaistos, the first European private credit fund dedicated to the defence industry (€30 million). EDIP adds a €100 million Defence Equity Facility 2.0 focused on SME investment support.
Not a programme you apply to as a company, but it determines which European VCs have fresh defence-mandated capital; track its fund commitments to know who can actually write you a cheque.
European Commission (DG DEFIS), with EUSPA and the EIF
Space is treated as dual-use across EU funding; CASSINI gives space-defence start-ups an equity pipeline and visibility instruments that stack with EDF and EUDIS applications.
European Investment Bank Group
Debt, not grants: the EIB now finances defence companies that banks still avoid, and venture debt from its one-stop shop can extend runway without dilution once you have revenue or strong contracts.
European Commission (European Innovation Council, Horizon Europe)
The only EU instrument giving a single dual-use company both grant and equity with no consortium requirement; since June 2026 you no longer need to disguise defence relevance as purely civil.
Next deadline 4 Nov