EU Puts €40 Million in First Foray Into Dedicated Defense Fund

The European Union’s investment vehicle is investing €40 million ($45 million) in a dedicated European defense fund, marking a first as the bloc seeks to improve its military capabilities.

The European Investment Fund, which provides access to financing for small and medium-sized businesses, will contribute to a fund being raised by Keen Venture Partners that is targeting €125 million, it said in a statement Thursday.