Darkstar launches new €25 million fund to invest in technologies proven on the battlefield in Ukraine

Darkstar has launched “the first dedicated pan-European defence fund focused exclusively on combat-proven technologies that help win the war and rearm Europe”. It is €25 million fund that invests up to €1 million in pre-seed companies. It has already made 2 investments and aims to complete 4 to 5 more within its first year.

“We’re building the fastest path from battlefield to manufacturing. Europe needs defence technologies that are tested, trusted, and field-ready,” said Ragnar Sass, Partner at Darkstar. “This fund is not about future visions — it’s about what works under fire. Majority of Darkstar’ s pipeline is closely connected to the real battlefield with their products being successfully used by Ukraine elite brigades,” Sass disclosed.

According to Sass, more than 30 entrepreneurs and investors from across Europe have backed the fund. It’s biggest LP is SmartCap — Estonia’s sovereign defence fund.

With growing urgency to rearm Europe and build modern European defence capabilities, Darkstar is focused on investing in companies whose products meet the demands of today’s warfare.

“Europe needs defence solutions that are proven under pressure and ready to deploy. Combat-proven technologies are essential to rearming Europe and building modern armed forces.” said Dr. Mart Noorma, Partner at Darkstar.

A group of Swedish businessmen earlier announced the launch of Varangians, an investment company that will fund Ukrainian defence startups