PME Pensioenfonds announces EUR 40m commitment to Keen Venture Partners’ European Defence and Security Tech Fund
PME is investing €40 million in a high-tech defense fund managed by Keen Venture Partners. The fund focuses on innovative European startups and scale-ups specializing in defense and security applications. With this investment, PME aims to deliver strong returns for its participants while also contributing to the strengthening of the Dutch and European defense industries.
Eric Uijen, chairman of the executive board, said:
“PME feels a strong connection with the defense sector. Many of our employers produce defense equipment or are suppliers to the defense industry. We have also been investing in this sector for a long time. The urgency to invest and innovate in defense has only increased in recent years. Geopolitical realities are changing rapidly. In a world where international relations are under pressure, there is a growing awareness that we in Europe need to invest more in our security and resilience. This investment in the Keen European Defence & Security Tech Fund aligns with that. With this investment, PME is contributing to the development of the Dutch and European high-tech defense sector, for example through advanced drone software, battery technology, and radar detection. It also aligns with PME’s policy to invest in innovative tech startups and scale-ups, thereby strengthening technological progress and the competitiveness of the Netherlands and Europe. These investments are also expected to deliver above-average returns. Because ultimately, with all our investments, what matters is that we invest for a good pension for our participants.”
Keen’s defense fund will be added to PME’s broader portfolio. This fits seamlessly with previous investments in innovative and high-tech funds such as Innovation Industries and DeeptechXL. PME values startups and scale-ups focused on current and future technological challenges. By investing in these creators of the future, the Netherlands retains know-how, independence, and competitiveness within this sector.
Alexander Ribbink, Keen Venture Partners, said:
“We are very pleased with PME’s participation. As one of the leading pension funds in the Netherlands, their decision is significant. It is important that we build a strong, innovative defense industry in Europe. Europe has clearly made security and defense a priority. It is vital that VC funds, which invest in promising startups and scale-ups, fully contribute to the ecosystem of established defense companies, knowledge centers, and the financial sector.”
