The global investment firm’s eighth fund will back European defence and dual-use technologies across Series A to C.
Global investment management platform DTCP today announced the launch of “Project Liberty”, its eighth fund and its first dedicated exclusively to defence, security, and resilience technologies.
The fund is independently managed by DTCP and targets institutional investors, family offices, and corporate investors. Its objective is to support the growth of high-performing European defence and dual-use technology companies and to contribute to Europe’s long-term technological capability and security resilience.
While Europe remains the clear investment focus, “Project Liberty” may also selectively invest in defence and security technologies from NATO member states and close allies where such investments are strategically relevant to European security interests.
DTCP has been investing successfully in IT and security technologies for more than a decade. Its existing portfolio focuses on cybersecurity and AI companies, including Arctic Wolf, Axonius, Zenity, Anomali, and Ox Security. This is complemented by dual-use companies such as the German defence tech unicorn Quantum Systems.
According to Vicente Vento, CEO of DTCP:
“Project Liberty represents a highly consistent extension of our role as a specialist investment platform.
Defence and resilience have been converging with technology and infrastructure investing for more than a decade—precisely where DTCP, through DTCP Growth and DTCP Infra, has deep expertise and numerous touchpoints with the defence industry.”
He cites a compelling long-term investment opportunity, sharing that for decades, Europe has underinvested in defence while geopolitical risks have steadily increased.
“In parallel, we are witnessing a profound technological transformation across the entire value chain — surveillance and sensing to software-defined systems, advanced materials, autonomous platforms, and satellite and communications infrastructure.
As major Western governments have now embarked on a long-term and irreversible path to modernise their defence capabilities, we are highly confident in the structural growth prospects of this sector for decades to come.”
Up to 30 investments in defencetech planned with Project Liberty
DTCP is actively investing in European defence and dual-use technology companies across Series A to C financing stages. The fund plans to invest in up to 30 companies, with average investments of approximately €20 million. The investment focus is on companies that complement existing defence and security systems or advance them through new technological approaches.
Key areas of focus include software solutions, cyber defence, artificial intelligence, and autonomous systems.