NATO launches a €1 billion venture capital fund

Details: The NATO Innovation Fund expects to lead early-stage deals, and also may invest in other venture capital funds. It's been in the planning stages for two years.

• It's led by former Amadeus Capital managing partner Andrea Traversone.
• Other team members include Kelly Chen (DCVC), Thorsten Claus (Thinkstorm Ventures), Chris O'Connor (Harpoon Ventures) and Patrick Schneider-Sikorsky (Beast Ventures).
• Neither the U.S. nor Canada participated which means, per the limited partnership agreements, the fund cannot invest in companies headquartered in either country. Discussions with both governments are said to be ongoing.

What they're saying: "The mission is to secure an enduring future for the Alliance's one billion citizens," explains Kelly Chen. "We're investing across all deep tech verticals, including climate, health, food, biotech, energy, as well as autonomy, AI, manufacturing and space.