The defense equipment manufacturing industry in the DACH region is critical for national security and military capabilities. Companies in this space produce a wide array of products, including advanced weaponry, surveillance systems, and aerospace technology. Germany, Austria, and Switzerland host innovative firms focused on enhancing defense technology through research and collaboration with military and governmental agencies. Currently, the industry is pivoting towards AI integration, robotics, and autonomous systems, reflecting global trends in defense strategies. As demand for sophisticated defense solutions grows, the sector is expected to expand, fostering partnerships that enable technology advancements and operational efficiencies.


The listed investors represent a mix of venture capital and corporate investment firms operating in the DACH region, predominantly based in Germany. Established between 1995 and 2020, these entities range in size from small teams to large corporate structures, reflecting various investment strategies. In 2024, they collectively engaged in numerous deals, highlighting a robust interest in technology-driven defense solutions. Notable names include Bayern Kapital, a dedicated venture capital firm, and Hensoldt, a corporate investor with significant capabilities, both showcasing a commitment to advancing the defense equipment manufacturing industry.


Top 17 Defense Equipment Manufacturing Investors in DACH


1. Bayern Kapital

  • Website: bayernkapital.de
  • Type: Venture Capital
  • Headquarters: Landshut, Bavaria, Germany
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: bayern-kapital-gmbh

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria. Bayern Kapital supports its clients with financial resources and access to a network of industry experts, helping them navigate the challenges of growth and development in various sectors, including life sciences and software. Notably, Bayern Kapital has been involved in significant transactions in the defense technology space, such as their investments in Quantum Systems, a pioneer in AI-powered drone robotics, which raised substantial funding in multiple rounds, indicating a strong focus on advanced technology relevant to defense applications. Additionally, their investment in Isar Aerospace, which raised over $69 million in a Series C round, highlights their commitment to supporting companies in the aerospace sector, further aligning with defense manufacturing interests.


2. Hensoldt

  • Website: hensoldt.net
  • Type: Corporate
  • Headquarters: Taufkirchen, Bavaria, Germany
  • Founded year: 2017
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: hensoldt

Hensoldt AG, founded in 2017 and based in Taufkirchen, Bavaria, Germany, is a corporate investor specializing in defense technology. The company focuses on sensor solutions for protection and surveillance missions, serving military and security organizations globally. Hensoldt has made significant strides in the defense equipment manufacturing sector through various acquisitions. Notably, they signed a definitive agreement to acquire ESG Elektroniksystem- und Logistik-GmbH for EUR 675 million, enhancing their defense technology capabilities. Additionally, they acquired Kelvin Hughes, a manufacturer of maritime navigation and surveillance radar systems, and EuroAvionics GmbH, which strengthens their portfolio in military and civil avionics. Hensoldt also acquired Sail Labs Technology, further diversifying their offerings in the defense sector. These strategic acquisitions underscore Hensoldt's commitment to innovation and operational effectiveness in defense technology.


3. BlueYard Capital

  • Website: blueyard.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: blueyard-capital

BlueYard Capital is a venture capital firm based in Berlin, Germany, founded in 2016. The firm focuses on early-stage startups across a variety of innovative sectors, including cryptocurrency, biotechnology, and engineering. BlueYard Capital aims to support entrepreneurs by providing funding and resources to develop groundbreaking technologies that address significant global challenges. Notably, they have participated in funding rounds for Castelion, a defense production company, including a $14.2 million funding round aimed at expanding its operational capacity and a $5.4 million pre-seed round. Additionally, they were involved in AnySignal, a company that has secured contracts with both commercial and government entities, further showcasing their engagement in sectors that intersect with defense. Their portfolio reflects a diverse range of projects, but their specific investments in defense-related companies highlight their relevance in this industry.


4. Vsquared Ventures

  • Website: vsquared.vc
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 12
  • LinkedIn: vsquared-ventures

Vsquared Ventures Management GmbH is a venture capital firm based in Munich, Bavaria, Germany, founded in 2020. The firm specializes in investing in innovative startups across high-tech industries, including aerospace, quantum computing, and robotics. They support entrepreneurs by providing funding and resources to help scale their technologies, focusing on transformative solutions that advance society. Notably, Vsquared Ventures has invested in Isar Aerospace, which is developing rocket technology and has raised significant funding to support its production and operational capabilities. This investment aligns with the aerospace sector, which has applications in defense. Additionally, they have invested in Morpheus Space, a company that is also involved in space technology, further indicating their interest in sectors that could have defense implications. Their portfolio reflects a commitment to fostering technological advancements, which may include applications relevant to defense.


5. HV Capital

  • Website: hvcapital.com
  • Type: Venture Capital
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: hvventures

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. The firm specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit, managing over €2.8 billion in assets. In 2023, HV Capital led a funding round for Quantum Systems, a pioneer in AI-powered drone robotics, which raised €63.6 million. This investment highlights HV Capital's engagement in advanced technologies with potential defense applications. Additionally, they participated in a Series C funding round for Isar Aerospace, which raised €155 million to further develop its aerospace capabilities, including rocket production and operational flights. These transactions demonstrate HV Capital's involvement in sectors that are relevant to defense equipment manufacturing, particularly in drone and aerospace technologies.


6. b2venture

  • Website: b2venture.vc
  • Type: Venture Capital
  • Headquarters: St. Gallen, St. Gallen, Switzerland
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: btovpartners

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. The firm specializes in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs to help them navigate challenges and scale their businesses. b2venture collaborates with a community of angel investors, enhancing its investment strategy and positioning it as a key player in the European venture capital landscape. Notably, b2venture has been involved in transactions with companies like Arktis Radiation Detectors, which focuses on radiation detection technologies that have applications in defense and security. Their investment in Arktis, which has raised multiple rounds of funding, highlights b2venture's engagement with companies that operate in the defense equipment manufacturing space, particularly in the context of enhancing safety and security through advanced technology.


7. AGIC Capital

  • Website: agic-group.com
  • Type: Private Equity
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • LinkedIn: agic

AGIC Capital is a private equity firm based in Munich, Bavaria, Germany, founded in 2015. The firm specializes in growth-oriented investments across advanced industrial and healthcare technology sectors, managing assets totaling $2.2 billion. AGIC Capital actively partners with companies to enhance their growth potential, particularly in Asian markets. Notably, AGIC Capital has been involved in several significant transactions, including the acquisition of Farsound Aviation, an aerospace parts supplier, for an enterprise value of £115 million in July 2019. This acquisition highlights AGIC's involvement in the aerospace sector, which is closely linked to defense manufacturing. Additionally, AGIC has made investments in companies like Soleras Advanced Coatings and Gimatic S.r.l., further demonstrating its focus on advanced industrial technologies. While AGIC Capital's primary focus is not solely on defense, its activities in the aerospace supply chain suggest a relevant connection to the defense equipment manufacturing industry.


8. Wieland Group

  • Website: wieland.com
  • Type: Corporate
  • Headquarters: Ulm, Baden-Württemberg, Germany
  • Founded year: 1820
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: wielandgroup

Wieland Group is a prominent manufacturer specializing in semi-finished products made from copper and copper alloys, serving various industries including automotive and aerospace. Founded in 1820 and based in Ulm, Baden-Württemberg, Germany, the company has a global presence and emphasizes sustainability and innovation in its product offerings. In recent years, Wieland has made several strategic acquisitions to enhance its capabilities in key markets. Notably, the acquisition of Morgan Bronze Products, Inc. in October 2024 aims to bolster its manufacturing capabilities in North America, particularly in growth markets such as aerospace and defense. Other acquisitions, such as National Bronze Manufacturing and Concast Metal Products Co., further strengthen its position in the premium copper and copper alloy market, which is critical for defense applications. These transactions highlight Wieland's commitment to expanding its footprint in sectors that intersect with defense manufacturing.


9. Ohb Se

  • Website: ohb.de
  • Type: Corporate
  • Headquarters: Bremen, Bremen, Germany
  • Founded year: 1981
  • Headcount: 1001-5000
  • LinkedIn: ohb-se

OHB SE is a corporate investor based in Bremen, Germany, founded in 1981. The company specializes in aerospace and technology, particularly in satellite systems and space exploration. OHB provides advanced solutions for navigation, earth observation, and military applications, serving both governmental and commercial clients. Notable transactions include the acquisition of MT Aerospace AG in 2005, which has significantly contributed to OHB's cash flow and earnings. In 2008, OHB acquired 50% of RST Raumfahrt Systemtechnik GmbH, enhancing its access to radar technologies for spaceborne reconnaissance projects. Additionally, the acquisition of Kayser-Threde in 2007 aimed to prevent competition in the satellite system integration market, particularly for contracts related to the German government's EnMap Earth observation satellite. These transactions highlight OHB's strategic focus on enhancing its capabilities in defense-related technologies.


10. Dtcp


DTCP is a Hamburg-based venture capital firm founded in 2015, specializing in Growth Equity and Infrastructure investments. The firm focuses on transformative technology leaders and digital infrastructure to support their growth and accelerate digital transformation. Notably, DTCP has participated in significant funding rounds for companies like Quantum Systems, which raised substantial capital for its AI-powered drone robotics technology. This involvement highlights DTCP's engagement in sectors that intersect with defense applications, particularly through its investment in companies that develop advanced technologies with potential military uses. Other transactions include investments in various technology firms, but the focus on Quantum Systems underscores DTCP's relevance in the defense equipment manufacturing context.


11. La Famiglia

  • Website: lafamiglia.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: la-famiglia-vc

La Famiglia is a venture capital fund based in Berlin, Germany, founded in 2016. The firm specializes in early-stage and growth-stage investments in technology companies, providing capital, market access, and strategic partnerships to tech entrepreneurs. La Famiglia aims to enable disruptive innovations across various industries, leveraging the expertise of world-leading entrepreneurs in its network. Among its notable transactions, La Famiglia participated in a Series B funding round for Helsing, a company focused on developing AI technology for military applications, raising €209 million. Additionally, they were involved in a seed funding round for Identify3D, which provides software for digital manufacturing and serves the aerospace and defense sectors, highlighting their engagement in the defense equipment manufacturing context.


12. Project A

  • Website: project-a.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2012
  • Headcount: 51-200
  • Number of deals in 2024: 13
  • LinkedIn: project-a-ventures

Project A is a venture capital firm based in Berlin, Germany, founded in 2012. It specializes in early-stage tech investments and provides operational support for startups. The firm offers a range of services, including consulting in technology and growth, access to a network of investors, and pre-seed investment opportunities. In 2023, Project A participated in significant funding rounds for Quantum Systems, a pioneer in AI-powered drone robotics, which raised €63.6 million in a Series B round and $181 million in a Series C round in 2025. Additionally, Project A has invested in ARX Robotics, which also operates in the robotics space, further showcasing its interest in technology that can intersect with defense applications. This focus on tech startups with potential defense applications positions Project A as a relevant investor in the defense equipment manufacturing sector.


13. 10x Group

  • Website: 10x.group
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2006
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: 10x-group

10x Group is a venture capital firm based in Munich, Bavaria, Germany, founded in 2006. The firm invests in founders and startups across Europe and Silicon Valley, focusing on providing financial backing and strategic support to entrepreneurs in various industries, particularly in technology and software. Notably, 10x Group has participated in funding rounds for companies like Quantum Systems, which raised $17.5 million in a venture round in 2022 and $10.1 million in a Series A round in 2021, both of which are involved in drone technology that has applications in defense. Additionally, they invested in Isar Aerospace, which raised approximately $69.6 million in a Series C round in 2024, a company that develops launch vehicles for small satellites, potentially relevant for defense and security applications. These transactions highlight 10x Group's engagement in sectors that intersect with defense equipment manufacturing.


14. UVC Partners


UVC Partners is a venture capital firm based in Munich and Berlin, specializing in investing in B2B startups across Europe. Founded in 2011, the firm provides financial support and strategic guidance to early-stage companies, helping them grow in competitive markets. UVC Partners has a diverse portfolio that includes innovative startups in various sectors. Notably, they have been involved in significant funding rounds for Isar Aerospace, a company focused on developing launch vehicles and rocket technology. In 2024, Isar Aerospace raised approximately $69.6 million in a Series C funding round, following previous rounds that raised substantial amounts, including $75 million in Series B and $16.6 million in Series A. This involvement in aerospace technology positions UVC Partners within a sector that has potential defense applications, particularly in the context of national security and defense logistics.


15. senseFly, now AgEagle

  • Website: ageagle.com
  • Type: Corporate
  • Headquarters: Cheseaux-Sur-Lausanne, Vaud, Switzerland
  • Founded year: 2009
  • Headcount: 51-200
  • LinkedIn: sensefly

AgEagle Aerial Systems Inc., based in Cheseaux-Sur-Lausanne, Switzerland, is a corporate investor specializing in drone technology. Founded in 2009, the company focuses on manufacturing drones, sensors, and software for various industries, including agriculture, construction, and notably, defense. In recent years, AgEagle has made significant acquisitions to bolster its capabilities in the drone market. Notably, they acquired MicaSense for $23 million on January 28, 2021, and Measure for $45 million on April 19, 2021. Additionally, they acquired senseFly, a subsidiary of the Parrot Group, for $23 million on October 18, 2021. These acquisitions enhance AgEagle's portfolio in high-performance fixed-wing drones, which are applicable in defense operations for tasks such as surveillance and reconnaissance. Their focus on providing high-resolution data collection tools positions them as a relevant player in the defense equipment manufacturing sector.


16. Jenoptik

  • Website: jenoptik.com
  • Type: Corporate
  • Headquarters: Jena, Thuringia, Germany
  • Founded year: 1991
  • Headcount: 1001-5000
  • LinkedIn: jenoptik

Jenoptik AG is a technology company based in Jena, Thuringia, Germany, founded in 1991. The company specializes in photonics and optics, providing a diverse range of products including imaging solutions, laser technology, and optical systems. Jenoptik serves various industries, notably automotive, medical technology, and defense. Their strategic acquisitions, such as Five Lakes Automation, EPIGAP Optronic, and Prodomax Automation, demonstrate their commitment to enhancing their technological capabilities. While these acquisitions primarily focus on automation and manufacturing solutions, the underlying technologies have significant applications in defense, particularly in areas requiring precision and advanced imaging. This positions Jenoptik as a relevant investor in the defense equipment manufacturing sector.


17. Target Partners


Target Partners is a venture capital firm based in Munich, Bavaria, Germany, founded in 1999. The firm specializes in early-stage technology investments, providing capital and strategic support to innovative startups in the tech sector. Notably, Target Partners has invested in Dedrone, a company focused on airspace security and anti-drone technology, securing €2.7 million in growth capital for its early-warning and detection systems. This investment aligns with defense and security applications, showcasing Target Partners' interest in technologies that contribute to safety and security. Their commitment to long-term partnerships with entrepreneurs and their expertise in venture capital distinguish them in the investment landscape, making them a notable player in the tech investment space with potential relevance to defense-related technologies.



Defense Equipment Manufacturing Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Bayern KapitalLandshut, Bavaria, Germany11-50199527
HensoldtTaufkirchen, Bavaria, Germany5001-1000020171
BlueYard CapitalBerlin, Berlin, Germany1-1020169
Vsquared VenturesMunich, Bavaria, Germany1-10202012
HV CapitalFlensburg, Schleswig-Holstein, Germany11-50200028
b2ventureSt. Gallen, St. Gallen, Switzerland11-50200015
AGIC CapitalMunich, Bavaria, Germany11-5020150
Wieland GroupUlm, Baden-Württemberg, Germany10001+18203
Ohb SeBremen, Bremen, Germany1001-500019810
DtcpHamburg, Hamburg, Germany51-20020156
La FamigliaBerlin, Berlin, Germany11-5020164
Project ABerlin, Berlin, Germany51-200201213
10x GroupMunich, Bavaria, Germany1-1020062
UVC PartnersGarching, Bavaria, Germany11-50201115
senseFly, now AgEagleCheseaux-Sur-Lausanne, Vaud, Switzerland51-20020090
JenoptikJena, Thuringia, Germany1001-500019910
Target PartnersMunich, Bavaria, Germany11-5019990


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