09/07/2026
European defence VC is growing. Just not on European money👀💸
More homegrown capital is flowing into defence and dual-use tech than ever before, according to PitchBook data:
→ €18B+ invested in aerospace and defence startups this year alone
→ France committing €76B annually by 2030
→ Germany targeting €150B+
→ The EU's ReArm Europe strategy at €800B
And yet… 98% of deal value in European defence VC rounds still includes external investors. Most of Europe's defence tech unicorns have at least one US investor leading the round.
🛡️Europe is building the sector. Someone else is largely funding it.
This is exactly the conversation we'll be having at , because a true single market for European angel investing and cross-border co-investment isn't just a nice idea. For sectors like defence, space, and deep tech, it's becoming a strategic necessity. Learn more: https://events.venture-days.lu/e/european-angel-investment-summit-2026
The window to change this dynamic is open. The question is whether European investors will move fast enough to take it.
📖 Full report: https://pitchbook.com/news/articles/european-defense-vc-grows-outside-reliance-holds