Danes invest $5 million in D3, a leading defence tech investor in Ukraine

The Danish Export and Investment Fund (EIFO) has announced a $5 million investment in D3 Venture Capital, a defence technology venture fund that is active in Ukraine and specialises in supporting start-ups developing solutions to enhance defence capabilities.

According to EIFO CEO Peder Lundquist, the investment is part of Denmark’s strategic course in supporting Ukraine, developing its own defence industry, and contributing to the strengthening of Europe’s defence capacity. In partnership with D3, EIFO not only provides capital to Ukrainian start-ups but also gains access to cutting-edge, combat-proven technologies.

Danish Minister for Industry, Business and Financial Affairs Morten Bødskov emphasised that the investment represents continued support for Ukraine in its fight for freedom, as well as a contribution to the security of the entire continent.

D3 Venture Capital was founded in 2023 by Evelyn Buchatskiy, Anton Verkhovodov, and Elia Chechenieva to support innovative Ukrainian teams in the field of defence technology. The firm funds developers who can contribute to Ukraine’s defence and to strengthening security across Europe.

It is also worth noting that in April, the D3 fund announced the names of several Ukrainian defence industry projects included in its investment portfolio.