EIF invests 50 Mio. € in Join Capital Fund III Deeptech

InvestEU defence equity facility EIF commits €50 million to Join Capital Fund III for deeptech and dual-use

2026-03-10 Source: Press release EIB, adapted by 2 min Reading Time

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The European Investment Fund (EIF), part of the EIB Group, recently announced at the EIB Group Forum in Luxembourg a €50 million commitment to Join Capital’s third fund as Europe moves from defence spending announcements to rebuilding industrial capability.

The commitment is the EIF’s largest to date in defence and supported by the InvestEU Defence Equity Facility, which is designed to strengthen Europe’s defence technological and industrial base by backing venture capital funds.

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

“Innovation and disruptive technologies are crucial for EU’s defence readiness. By investing in specialist defence Venture capital funds, like Join capital, the Commission and the EIF are strengthening the financial ecosystem that nurtures and supports our defence innovators, startups and SMEs to grow and scale up in Europe.” said Commissioner Andrius Kubilius.

Throughout history, defence research and development has not only enhanced security but reshaped civilian life. Technologies were born in military programmes, from satellite navigation and radar systems to semiconductors and the internet, now underpin global logistics, communications and productivity.

"This investment is not only funding. The EIF credibility also acts as a seal of approval signalling to other investors the relevance of the aerospace and security and defence sector." said EIF Chief Executive Marjut Falkstedt. "With this backing, we are confident that additional investments will follow, helping Europe in building a robust ecosystem for innovative defence solutions."

Join Capital Fund III is focused on ensuring the next generation of critical technologies is developed, scaled and anchored in Europe.

About Join Capital

Join Capital is an early-stage, pan-European venture capital fund with offices in Berlin, London, and Milan. Since 2017, we’ve been backing founders whose technologies strengthen Europe’s resilience and strategic autonomy through an asymmetric technological advantage. Our focus is on deep tech across enterprise, industrial, space, and defense sectors — solutions that strengthen economies, secure critical infrastructure, and create enduring strategic advantage.

Join Capital currently invests from its second fund generation, managing over €150 million in assets. Investors include NATO Innovation Fund (NIF), Isomer Capital, KfW Capital, and Cassa Depositi e Prestiti (CDP), leading funds-of-funds, and prominent family offices. To date, we’ve backed 36 portfolio companies and successfully realised five exits.

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