The new NATO Innovation Fund takes a new step towards full establishment with the appointment of the first three members of the Board of Directors. It’s about Klaus Hommelsfounder and president of venture capital firm Lakestar and who will chairman of the board of the NATO Innovation Fund, Fiona MurrayAssociate Dean for Innovation and Inclusion at the Massachusetts institute of technology (MIT) School of Management, and Roberto Cingolaniformer Italian Minister for Ecological Transition and founder of the Italian Institute of Technology.
The NATO Innovation Fund, the first multi-sovereign venture capital fund in the worldwas launched by 22 allies at the 2022 Madrid summit. Full establishment is expected within the NATO summit in Vilnius of July 2023. The goal is to invest €1 billion in deep tech start-ups and funds.
Focus on digital and technological sovereignty
The Board of Directors will eventually consist of nine members and will support and advise the Fund’s senior management team, which will be established in the coming weeks. The Netherlands will host the headquarters of the investment management branch of the Fund but other regional offices will be established throughout the Alliance.
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David van WeelNATO assistant secretary general for emerging security challenges, commented on the appointments stating that “they mark an important milestone in the creation of this historic fund, which it will allow NATO to tap into the innovation ecosystem for the benefits of our security and defence”.
“As the importance of technology in all parts of our lives increases, so does the need for digital and technological sovereignty“, was the first comment by Klaus Hommels as chairman of the board of directors of the Fund. “NATO’s Innovation Fund is the world‘s first multi-sovereign venture capital fund support emerging technologies and drive much-needed innovation in areas that touch upon the strategic objectives of the Alliance“.
Investments in deep tech startups
The NATO Innovation Fund is a financial partnership between participating NATO allies and a specifically established investment management company for this Fund. The participating allies have previously agreed to domicile the partnership in Luxembourg. I 22 participating countries they are Belgium, Bulgaria, Czech Republic, Denmark, Estonia, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Norway, Holland, Poland, Portugal, Romania, Slovakia, Spain, Turkey and UK.
The Fund will invest €1 billion in early stage start-ups who develop emerging and disruptive technologies e other venture capital funds developing emerging and disruptive dual-use (deep tech) technologies.
“By building a multi-sovereign venture capital fund for the Alliance, we will ensure that venture capital – a powerful economic tool in shaping the businesses that emerge and thrive in our economies – is focused on an essential mission of our time, namely to say defense and security. More than just a fund, this is an opportunity to contribute to Allies’ ability to maintain theirs strategic advantage in science and technology and build their innovation ecosystems,” said newly appointed Counsel Murray.
“The establishment of the NATO Innovation Fund it will stimulate the exploration and development of new technologies for the security of NATO countries and for the advancement of our societies“, he said crawlers.
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