The European Investment Fund (EIF), part of the EIB Group, today announced a €50 million commitment to Join Capital’s third fund. This commitment is the EIF’s largest to date in defence and is supported by the InvestEU Defence Equity Facility.

Fund Objective

Join Capital’s Fund III, targeting €235 million, will invest in 25 early-stage deeptech startups across Europe. These startups will be developing technologies with critical capabilities in defence, dual-use, security and space.

Previous Investments

Join Capital has backed early-stage defence and deeptech innovators across Europe, including Optics11 (Netherlands), Quadsat (Denmark), Kreios Space (Spain), Quantum Optics Jena (Germany) and 2D Photonics (Italy). These companies span fibre-optic sensing for critical infrastructure, quantum-secure communications, advanced electronic payloads, and cybersecurity.

Statements

Jan Borgstädt, a Founding Partner at Berlin-based Join Capital, said that investments in dual-use technologies create both deterrence and economic growth for Europe. EIF Chief Executive Marjut Falkstedt highlighted the strategic importance attached to the fields of space, security and defence. Commissioner Andrius Kubilius added that innovation and disruptive technologies are crucial for the EU's defence readiness.