Klaus Hommels, the European venture capitalist known for backing Spotify, Revolut, and Klarna, has shifted his focus to defence. BAE Systems has invested €25 million in its firm to support this move.
BAE Systems is investing €50 million in Lakestar and Expeditions through its Launchpad programme. Instead of developing everything internally, the company is supporting early-stage European defence-tech startups.
In 2025, European defence and security startups raised a record $8.7 billion, a 55% increase from the previous year. Now, major defence companies are starting to follow venture capitalists into the sector.
Throughout his career, Klaus Hommels became known for backing successful consumer tech companies like Skype, Spotify, Airbnb, Klarna, and Revolut. Last year, he stepped down as chair of the NATO Innovation Fund and said he would stop raising generalist VC funds. Now, his focus is on defence, aerospace, and resilience.
Today, BAE Systems validated that pivot with €25 million.
