DTCP Closed €455 Million Defence Fund
The investment firm has launched a new fund aimed at accelerating European defence technology capabilities.
Updated on Sept. 24, 2026 in Startups
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DTCP has closed its inaugural €455 million defence fund to support early-growth and growth-stage technology firms. The fund prioritizes Series B and later financing rounds for companies working in AI, space tech, and cyber defence.
Why it matters
The fund seeks to scale strategic European defence capabilities by providing capital to companies focused on autonomous systems and secure communications. It aims to bridge the funding gap for emerging growth-stage firms within the continent.
The DTCP Defence Fund I totals €455 million in capital, with investments already placed in Six Robotics and Kraken Technology Group. The fund strategy targets Series B and later equity rounds for European growth-stage tech companies.
The players
DTCP
This investment management firm specializes in growth equity and venture capital for technology companies.
Ole Aguirre
He is a partner at DTCP who brings 25 years of experience in the armed forces to the firm.
Georgia Watson
A partner at DTCP, she previously spent seven years at Goldman Sachs and has a decade of private equity experience.
Deutsche Telekom
This major German telecommunications company is one of the institutional investors supporting the new defence fund.
Porsche SE
This holding company operates with a focus on automotive and industrial investments and is an institutional backer of the fund.
The details
Led by partners Ole Aguirre and Georgia Watson, the initiative focuses on critical sectors including space technologies, autonomous systems, and cyber defence. Key institutional investors backing the venture include Deutsche Telekom, Porsche SE, EIFO, Danica, and SmartCap.
Timeline
September 24, 2026: DTCP successfully closed the defence fund.
2027: The firm is scheduled to open a new office in Copenhagen.
Market Landscape
This fund represents a shift in European venture capital, where institutional investors are increasingly prioritizing strategic defence over purely commercial software applications. It positions DTCP to capture market share alongside rivals focused on the continent's growing defence-tech arms race.
For European technology startups, this fund provides a new dedicated source of Series B capital for high-growth ventures. The influx of institutional funding may accelerate the time-to-market for new defence-related AI and space hardware products.
The takeaway
The firm’s expansion into a dedicated defence fund highlights a structural pivot in European venture capital toward strategic autonomy. Investors and entrepreneurs should track how these growth-stage investments impact the commercialization timelines for dual-use technologies.
What happens next
DTCP is scheduled to open a new office location in Copenhagen in 2027.
Further reading
For more information on current investment trends, visit our Startups section.
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