Latest news with #KlausHommels
Yahoo
4 days ago
- Business
- Yahoo
Spotify Investor Turns War Strategist with $300M Defense-Tech Gambit
Lakestar, the venture firm best known for backing consumer tech names like Spotify (NYSE:SPOT) and Revolut, is changing lanes. According to people close to the matter, founder Klaus Hommels is quietly raising a $250$300 million fundthis time focused entirely on defense tech. If the raise lands, it could become one of the largest funds of its kind in Europe. Hommels has already pledged over 100 million of his own capital and told the Financial Times he's far from done. Why the pivot? The war in Ukraine has fast-tracked defense budgets and sparked a tech arms race across Europe. Companies like Helsing and Quantum Systemsboth building autonomous drones and military AIhave crossed the $1 billion valuation mark with support from deep-pocketed investors. Lakestar (Spotify's backer) has already dipped into this space with drone software startup Auterion. But this new fund could push them into the core of the continent's defense ecosystem. What makes this move stand out is Hommels' dual rolehe also chairs NATO's 1 billion innovation fund. That means he's not just writing checks; he's shaping the strategy. Most European defense startups still depend heavily on U.S. venture money. But if this fund gains traction, it could mark a turning pointwhere Europe starts funding its own defense future, and where Lakestar sits right at the center. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
4 days ago
- Business
- Bloomberg
Lakestar Is Trying to Raise a $300 Million European Defense Fund
Lakestar, a European venture capital firm that backed Spotify and Revolut, is pitching investors on a new fund dedicated to defense technologies, according to people familiar with the matter. Klaus Hommels, Lakestar's founder and chairman, began fundraising last year and is targeting a fund of $250 million to $300 million, said the people, who asked not to be identified because the discussions are private.
