On 24 September 2026 in Hamburg, Germany, DTCP officially announced the first closing of DTCP Defence Fund I, securing €455 million in commitments. The fund brings together a strong group of European institutional and strategic investors, including Deutsche Telekom, Porsche SE, EIFO, Danica and SmartCap. It will focus on defence, security and resilience technologies considered essential for Europe's strategic autonomy.
Investment Strategy and Leadership
The fund is designed as a Europe-led and NATO-aligned strategy targeting early-growth and growth-stage technology companies. Its investment focus covers artificial intelligence, autonomous systems, cyber defence, secure communications and space technologies, with particular attention to Series B and later equity rounds. The dedicated team is led by Partners Ole Aguirre and Georgia Watson, who bring combined expertise in defence operations and technology investing.
Leadership Background
Ole Aguirre has more than 25 years of experience across the armed forces and the commercial defence and security ecosystem. He previously held senior leadership positions at Teledyne FLIR, co-founded Prox Dynamics and served as Managing Director of Bertel O. Steen Defence and Security. Georgia Watson brings more than a decade of private equity, growth and venture investing experience, including roles as a Partner at Lakestar and at Goldman Sachs.
Initial Portfolio Investments
DTCP Defence has already completed investments in Six Robotics and Kraken Technology Group, with a third investment currently underway. Six Robotics is a Norwegian defence technology company developing autonomy and orchestration software for unmanned systems, while Kraken Technology Group is a UK-based company focused on advanced uncrewed maritime platforms and payload capabilities. The strategy also builds on DTCP's broader track record in mission-critical technologies, including earlier investments in Quantum Systems and STARK Defence.
Investor Perspectives
Thomas Preuß, Managing Partner and Chief Investment Officer of DTCP Growth, said the fund addresses a critical need by accelerating the development and scaling of Europe's own strategic capabilities. Tim Höttges, CEO of Deutsche Telekom, added that Europe must take greater responsibility for its security and protect critical infrastructure. Hans Dieter Pötsch, Chairman of the board of management of Porsche Automobil Holding SE, said the investment supports a resilient, innovative and globally competitive defence ecosystem.
Nordic Expansion and Market Context
DTCP will open a new office in Copenhagen to strengthen its connection to the Danish and broader Nordic defence and technology ecosystem. The expansion follows the commitment by NATO Allies at the June 2025 Hague Summit to invest 5% of GDP annually in defence and security-related spending by 2035. Thomas Preuß said the Copenhagen office, planned for 2027, demonstrates the firm's long-term commitment to the region.
Partner Statements and Local Impact
Peder Lundquist, CEO of EIFO, said there is a significant need for risk capital in European defence technology and described the fund as EIFO's largest defence investment so far. Mads Kaagaard, CEO of Danica, noted that defence technology offers strong structural growth driven by rearmament and supports security, growth and resilience in Denmark and across Europe. Both leaders welcomed DTCP's decision to establish its Nordic headquarters in Denmark.
With a first closing of €455 million, DTCP Defence Fund I provides a substantial capital base to scale European defence and security technology companies. The combination of strategic investors, specialist leadership and a growing Nordic presence positions the fund to address Europe's evolving security requirements. The initiative signals a coordinated effort by European institutions and industry to strengthen strategic autonomy through targeted investment.