DTCP Closes €455M First Round for European Defence Tech Fund

Growth investor DTCP has closed the first round of its DTCP Defence Fund I, securing €455 million in commitments, according to reporting by Sifted and Tech.eu.

The fund draws on a group of European institutional and strategic investors, including Deutsche Telekom, Porsche SE, EIFO, Danica and SmartCap. DTCP describes the vehicle as Europe-led and NATO-aligned, targeting early-growth and growth-stage technology companies whose capabilities are relevant to European defence, security and resilience.

Investment will focus primarily on Europe, while selectively backing companies from NATO member states and close allies where their technologies matter to European defence, interoperability or critical supply chains. The strategy concentrates on artificial intelligence, autonomous systems, cyber defence, secure communications and space technologies, with an emphasis on Series B and later equity financing rounds.