What SecFund does

SecFund B.V. is a Dutch national investment fund that provides early-stage financing to startups, scale-ups, and innovative SMEs developing dual-use technologies — products and systems usable for both civilian and military applications such as autonomous drones, haptics, cybersecurity, composite materials, and optical data transfer. The fund issues cheques of €150,000 to €5 million per company and operates under a mandatory co-investment model, requiring matching capital from private investors and capping SecFund plus other public resources at 50% of the total round.

The fund was established in October 2024 by the Dutch Ministry of Defence, the Ministry of Economic Affairs and Climate Policy, and the nine Regional Development Agencies (ROMs) united in ROM-Nederland, with a target capital of €100 million and an initial deployment base of €25 million. It is managed day-to-day by the Brabantse Ontwikkelings Maatschappij (BOM) on behalf of all ROMs, giving it nationwide sourcing coverage across the Netherlands. Its investment mandate aligns with European Investment Bank dual-use guidelines and prioritises technologies that address Ministry of Defence innovation needs.

In its first year of operation (April 2025 to April 2026), SecFund completed six investments alongside co-investors including Tenzing Alpha, Graduate Ventures, Value Creation Capital, Auriga Cyber Ventures, Kadmos Capital, Damen Maritime Ventures, and Savin Capital Partners, and received interest from more than 250 applicant companies. Investment Director Ernst Coolen leads deal evaluation. The fund does not sell technology products; its commercial offering is venture capital financing, venture development support, and access to a co-investor and expert network, with deal flow sourced via its website, ROM partners, and events such as the European Defence Innovation Forum.

Name

SecFund

Legal name

SecFund B.V.

Website

https://secfund.nl

Company type

Private

Founded year

2024

Operating status

Operating

Short description

SecFund is a Dutch government-backed investment fund that provides €150K–€5M early-stage financing to startups and SMEs developing dual-use technologies with both civilian and military applications. It co-invests alongside private investors and is managed by BOM on behalf of nine Regional Development Agencies.

Ownership category

akta.pro rank

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

SecFund is a Dutch national investment fund that provides early-stage venture capital financing (€150,000 to €5 million per company) to startups, scale-ups, and innovative SMEs developing dual-use technologies with both civilian and military applications. The fund operates strictly as a co-investment vehicle alongside private investors on identical terms, targeting up to 50% of total investment needs, and offers venture development support and access to a network of co-investors, experts, and partners.

Product overview

SecFund is a Dutch national investment fund that provides early-stage financing (€150,000 to €5 million per company) to startups, scale-ups, and innovative SMEs developing dual-use technologies suitable for both civilian and military applications. The fund is a collaboration between the Ministry of Defence, Ministry of Economic Affairs, and Regional Development Agencies (ROMs), managed by the Brabant Development Agency (BOM). SecFund does not offer technology products; it provides venture capital financing, expertise, network access, and venture development support to help companies develop and scale dual-use innovations for national security.

Differentiator

Problem solved

Functional benefit

Products and services

• SecFund Investment Financing Early-stage venture capital financing for Dutch startups, scale-ups, and innovative SMEs developing dual-use technologies (civilian and military applications). Investment range is €150,000 to €5 million per company, always co-invested with private investors on identical terms, financing up to 50% of the total investment need. Includes access to a network of co-investors, experts, partners, and venture development support to help companies scale.

Quantifiable outcome

• Fund grows from €25M to €100M target capital within first year
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Invest-NL: The Dutch national investment institution financing innovation, sustainability, and SME growth. As a Dutch state-backed investor, it shares the same domestic LP ecosystem and occasionally co-finances the same deeptech companies as SecFund.
• KfW Capital: Germany's state-backed fund-of-funds for venture capital. While broader in mandate than SecFund, it pools public capital and co-invests in European deeptech and defence-adjacent funds, making it a structural parallel.
• Bundeswehr Cyber Innovation Hub: The German Bundeswehr's innovation hub that funds dual-use and cybersecurity startups. It serves a similar function in Germany as SecFund does in the Netherlands, making it a regional peer for sourcing and capital-deployment comparisons.
• Defence and Security Accelerator (DASA): A UK Ministry of Defence organisation that funds innovation for defence and security. It is a regional counterpart to SecFund, channelling UK government capital into dual-use and security startups.

Broad incumbents

• Bpifrance: France's public investment bank with deep defence-industry financing capabilities and dedicated defence-tech programmes. It is the closest French sovereign peer, operating at much larger scale with overlapping dual-use and SME financing mandates.
• Defense Innovation Unit (DIU): A US Department of Defense organization that accelerates commercial technology adoption for military use. It is the closest US analogue to SecFund's mission of bridging commercial innovation and defence capability needs.
• European Defence Fund: The EU's flagship €8B defence R&D and capability programme that awards grants and co-finances collaborative defence projects. While it primarily funds consortium R&D rather than equity, it competes for the attention of the same dual-use founders SecFund targets.
• European Investment Fund: The EU's specialist vehicle for SME financing and fund-of-funds investing. It backs many of the same European VC funds that SecFund co-invests with, making it a systemic peer for capital-aggregation in the European defence-tech ecosystem.

Direct peers

• NATO Innovation Fund: A €1B venture capital fund backed by NATO allies to invest in dual-use and defence technologies across the Alliance. It is the most direct peer to SecFund, operating at a larger pan-European scale with a similar dual-use mandate.

Emerging players

• Tenzing Alpha: A Dutch deeptech investor that has co-invested alongside SecFund in Tective and Arceon. While operating commercially rather than as a sovereign fund, it competes for the same Dutch dual-use deals at slightly larger ticket sizes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SecFund