Europe

The ongoing shift from big, expensive military assets like battleships and fighter jets to smaller, more agile and less costly ones positions Anduril and other venture-backed companies to win more government and commercial contracts and draw more capital from investors.

Family offices are key venture-stage investors in defense-related technology as other LPs explore their options.

Mismatched valuation expectations are impeding defense tech acquisitions.

Venture capital opportunities in defense technology are proliferating but they pose challenges, says Mercer’s Garvan McCarthy.

New legislation that sets clearer rules for the sector is helping drive increased investment and adoption by mainstream financial institutions.

Investors are on pace to commit to 10% fewer venture funds this year, according to Venture Capital Journal research.

The $49bn fund is looking for diversification, but is trimming its overall US exposure, says head of PE and sustainable infrastructure Jaime Alvarez.

Our directory, first published in July 2024, has grown to 31 firms that manage more than $94bn in secondaries capital.

The giant asset manager's Private Equity Solutions platform will make about 20-25 investments in a mix of early-stage funds and co-investments in later-stage companies.