Sweden is set to join the NATO Innovation Fund (NIF) as a Limited Partner, following its official accession to the North Atlantic Treaty Organization (NATO). The NIF, a venture capital fund designed to foster innovation and cutting-edge technology, has welcomed Sweden’s interest, and the country’s participation will take effect upon its formal accession to NATO.
Twenty-three NATO Allies have already become Limited Partners of the NATO Innovation Fund, with initial investments planned later this year. Sweden’s contribution will further enhance the fund’s capital, currently standing at EUR 1 billion, and bolster innovative capacity across the Alliance.
Mr. Pål Jonson, Swedish Minister for Defence, emphasized the significance of Sweden’s membership in NATO and how it will strengthen the Alliance. He highlighted Sweden’s strategic location and robust military capabilities, along with a thriving security and defence industry that encourages innovation and technological advancements.
The NATO Innovation Fund is a groundbreaking multi-sovereign venture capital fund that focuses on investing in start-ups developing cutting-edge technological solutions to address crucial defence and security challenges. The fund’s Limited Partners consist of 23 NATO Allies, including high-level government representatives, venture capital experts, and defence and innovation authorities.
Mr. David van Weel, NATO’s Assistant Secretary-General for Emerging Security Challenges, expressed his warm welcome to Sweden’s future participation in the fund. He underlined that this historic step reaffirms Sweden’s journey towards becoming the 32nd country to join the NATO Alliance.
The NIF’s objective is to provide patient capital to support the needs and timelines of deep tech innovators and ensure a prosperous future for the Alliance’s one billion citizens. It will make direct investments in start-ups based in any of the 23 participating Allied nations and indirect investments in deep tech funds with a trans-Atlantic impact.
Sweden’s involvement in the NATO Innovation Fund will not only contribute to the fund’s mission but also enhance its position in driving innovation and development within the broader NATO community.