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

German investment firm DTCP has closed the first 455 million euros of its DTCP Defence Fund I, with financial backing from European institutional and strategic investors. These include Nordic investors EIFO, Danica, and SmartCap, alongside Deutsche Telekom and Porsche SE. The fund will invest in early-growth and growth-stage defence, security, and resilience technologies, focusing on areas such as artificial intelligence, autonomous systems, cyber defence, secure communications, and space technologies, primarily through Series B and later funding rounds.

The fund primarily targets European companies and selectively invests in businesses from NATO member states and close allies when their technologies are strategically relevant to European defence or supply chains. DTCP Defence has already invested in Norwegian defence technology company Six Robotics, which develops autonomy software for unmanned systems, and UK-based Kraken Technology Group, with a third investment currently underway.

As part of its expansion, DTCP plans to open a new office in Copenhagen in 2027 to serve as its Nordic headquarters. This location will strengthen the firm's presence in Denmark and the wider Nordic ecosystem while bridging the Danish and German defence technology markets. The fund marks the largest defence investment to date for Denmark's state investment fund, EIFO, as European nations increase their focus on security and risk capital for defence technologies.