DTCP backs Norwegian defence tech as new €455M fund expands across Nordics

German investment firm DTCP has closed the first four hundred fifty-five million euros of its new DTCP Defence Fund I. The fund is backed by European institutional and strategic investors, including Nordic investors EIFO, Danica, and SmartCap, alongside Deutsche Telekom and Porsche SE.

The fund targets early-growth and growth-stage technology companies that specialize in defence, security, and resilience. Its primary investment areas include artificial intelligence, autonomous systems, cyber defence, secure communications, and space technologies. Investments will focus mainly on Series B and later funding rounds.

Geographically, the fund targets companies based in Europe while also making selective investments in businesses from NATO member states and close allies when their technologies meet specific criteria. This expansion into the Nordics and broader European markets aims to support companies developing critical digital infrastructure and defence capabilities.