NATO today announced that it has closed on its €1 billion venture capital fund dubbed the NATO Innovation Fund (NIF).
The NIF was created to fund deep-tech innovation in both the public and private sectors, supporting ambitious startups in developing “emerging and disruptive technologies.” NATO said that high-impact verticals for the standalone fund include artificial intelligence (AI), biotechnology, energy & propulsion, manufacturing, and space.
The objectives of this Fund revolve around identifying cutting-edge developments capable of addressing NATO’s challenges within the defence and security sectors. The Fund aims to achieve this by facilitating the integration of these innovations into relevant markets. It also seeks to boost the capacities of Allied innovation ecosystems to drive the scale and success of its portfolio.
According to a press release, the NIF will make its first investments later this year. The Fund’s Limited Partners include 23 NATO Allies at the highest levels of government, venture capital, innovation and defence. Participating NATO allies include Belgium; Bulgaria; Czechia; Denmark; Estonia; Finland; Germany; Greece; Hungary; Iceland; Italy; Latvia; Lithuania; Luxembourg; Netherlands; Norway; Poland; Portugal; Romania; Slovakia; Spain; Türkiye; United Kingdom.
Though not a member of NATO, Sweden has expressed interest in joining the NIF. Its participation will take effect upon its accession to the North Atlantic Treaty.
Mr. David van Weel, NATO’s Assistant Secretary General for Emerging Security Challenges, welcomed Sweden’s future participation, saying: “This year’s Summit set Sweden further on track to becoming the 32nd country to join our Alliance, and this historic step will make way for Sweden to participate in the NATO Innovation Fund and to contribute to its important mission.”
The Fund will make direct investments in startups within any of the 23 participating Allied nations, as well as indirect investments into deep tech funds with trans-Atlantic impact. The Fund aims to cater to the specific requirements and timelines of deep tech innovators, ensuring a sustainable and promising future for the Alliance’s vast population of 1 billion citizens.
Source: mPost
