Photo by M. Minderhoud via Wikimedia Commons, under a CC BY-SA 3.0 Licence
TNO Ventures, the commercialisation arm of Dutch applied research institute TNO, has put an undisclosed amount of capital into the Defense & Safety Fund managed by Keen Venture Partners.
The fund has raised more than €150 million in its first close, making it, according to Keen, Europe’s largest defence-tech fund. The European Investment Fund and Dutch pension fund PME, as well as financial services firm ABN AMRO have also invested. The fund will invest throughout the NATO countries.
The deal marks the fourteenth investment made by TNO Ventures into a third-party fund. Notably, its LP commitments already include spinout investment funds.
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