NVM Ventures Launches €23.6M Dual-Use Fund
NVM Ventures launched with a €23.6M first close to back early-stage dual-use companies.
European dual-use technology is attracting more specialised early-stage capital as defence and deeptech markets converge.
What happened
NVM Ventures launched with a €23.6M first close for a fund focused on pre-seed and seed-stage dual-use companies. The vehicle is targeting startups in strategic technologies and regional industrial supply chains.
Why it matters
Dual-use startups often need investors who understand procurement cycles, regulated customers and industrial deployment. Generalist venture capital does not always fit the timelines or go-to-market complexity of defence-adjacent technology.
The bigger picture
Europe is building more dedicated capital pools for strategic technology. NVM’s first close is smaller than late-stage defence funds, but it strengthens the seed layer where many dual-use companies start.