Leaders of the NATO Innovation Fund and private-sector representatives met the North Atlantic Council in Brussels on Wednesday to discuss defence and security innovation.
The NATO Innovation Fund — known as the NIF — is a venture capital fund backed by 24 NATO Allies with more than €1 billion, the alliance press service informed in a release.
NATO describes it as the world’s first “multi-sovereign” venture capital fund, meaning it is supported by multiple governments rather than a single state or private backer.
The fund invests in “deep tech” start-ups and other investment funds, NATO said — a term commonly used for companies building advanced technologies based on scientific and engineering breakthroughs.
NATO said the NIF is intended to help turn new ideas into capabilities that can be used by Allied countries, “from seabed to space”.
NATO Secretary General Mark Rutte stated that innovation ecosystems help give the Alliance its “technological edge”, and that the NIF connects Allied ambition with “entrepreneurial talent, new technologies and capital.”
Briefings from fund leaders and industry figures
The chair of the NIF board, Dame Fiona Murray, and the fund’s president, Ari Jonsson, briefed Allied representatives on the fund’s work, NATO said.
Private-sector participants included ISAR Aerospace chief executive Daniel Metzler and Expeditions Fund co-founder Mikolaj Firlej, who shared views on innovation and investment during the meeting.
