€500M E2D fund targets European defence tech gap

AVP and Earlybird launched E2D, a €500 million growth-stage fund for European defence and dual-use technology. The US has captured 85 percent of NATO defence-tech venture funding since 2019, while Europe accounted for just 6.2 percent in 2025. E2D plans roughly €25 million investments into about 20 companies, with a first close on 30 June.