NUNC Capital launches €20M venture building initiative investing in Ukraine’s defence tech

On March 27, Amsterdam-based NUNC Capital announced a €20 mln early-stage Venture Building Initiative to invest in emerging Ukrainian defence tech. According to the company’s press release, the plan is to create a strategic bridge between Europe’s defense markets and Ukraine’s innovative defense technology ecosystem. By establishing a Forward Operating Base in Ukraine, NUNC Capital invests in local boots on the ground to source and support start-ups developing disruptive defense solutions.

The Venture Building Initiative will focus on strategic domains where significant innovation potential exists. The focus on these specific areas aligns with global trends in defense innovation: electronic warfare, unmanned systems, smart materials, sensors and payloads, GPS-denied communication, and navigation. This targeted approach addresses specific areas where European strategic autonomy requires strengthening while leveraging Ukrainian expertise developed through operational experience.

The press release quotes NUNC Capital’s CEO, Bram Oostvogel: “Recent geopolitical developments on the world stage have led us to decide to expand our field of work to Ukraine to contribute to, create, and cooperate with local defense start-ups. We intend to address critical capability gaps in Europe while leveraging Ukraine’s accelerated battlefield innovation.”

NUNC Capital is a venture-building investment firm focusing on defense technology. Since 2013, It has successfully established a niche portfolio of defense companies operating in critical domains such as advanced materials, unmanned systems, strategic sourcing and supply, and mission-critical software.