Emerging
Jun 19, 20261
71%
Norwegian Family Offices Back $85 Million Ukraine Defense Tech Fund
A group of Norwegian family offices have raised $85 million for a venture capital fund focused on Ukrainian defense technology, betting that innovations developed on the battlefield will play a central role in Europe's security architecture. The fund targets drones, autonomous systems, and other military technologies accelerated by more than four years of war in Ukraine.
Quick Facts
Who
Norwegian family offices
What
raised $85 million for a venture capital fund
When
2026-06-19
Where
Norway
- raised $85 million for a venture capital fund
- focus on Ukrainian defense technology
- development of drones, autonomous systems and other military technologies
- Norwegian family offices
- Ukrainian defense tech startups
A group of Norwegian family offices has raised $85 million for a venture capital fund dedicated to Ukrainian defense technology, marking a significant international investment in the country's wartime innovation. The fund aims to capitalize on the rapid development of drones, autonomous systems, and other military technologies that have emerged on the front lines.
More than four years of war in Ukraine have accelerated the evolution of these systems, turning battlefield experiments into mature products. Investors believe that solutions proven in Ukraine's high-intensity conflict will become central to Europe's future security architecture, as nations seek to modernize their defense capabilities.
The fund is a bet that the technological edge gained by Ukrainian forces—from reconnaissance drones to AI-assisted targeting—will have long-term commercial and strategic value. Norwegian backers, known for their long-term investment horizons, see this as an opportunity to support innovation while strengthening European defense self-sufficiency.
This injection of capital is expected to help Ukrainian startups scale production and expand into international markets. It also signals growing confidence among private investors in Ukraine's defense sector, despite the ongoing war. The fund will focus on early-stage companies that have already demonstrated effectiveness on the battlefield.
Why This Matters
This investment signals that private capital is willing to back battlefield-proven Ukrainian defense technologies, which could accelerate the scaling and export of these innovations. For European defense planners and investors, it underscores a shift toward sourcing practical solutions from active conflict zones, potentially reshaping supply chains and procurement strategies.
Timeline & Sources
Jun 19, 2026
WireAnnouncement of $85 million fund for Ukrainian defense tech backed by Norwegian family offices