Dutch NUNC Capital to help Ukrainian defense startups with experience and money
28 March 2025 11:49
The European investment company NUNC Capital has announced the launch of a new project in Ukraine – a venture capitalist that will invest €20 million in the development of Ukrainian defense technologies. This was reported by Mind, citing the company’s press release, "Komersant Ukrainian" reports.
The goal of the project in Ukraine is to combine Ukrainian innovations created during the war with the needs of the European defense sector. NUNC Capital believes that this will help strengthen the defense capabilities of European countries and at the same time develop Ukrainian technologies.
The company, which has been working with defense technologies for more than 10 years, will set up a team in Ukraine to work directly with local startups: to look for promising ideas, help launch new projects, and develop existing ones.
The project will focus on areas where Ukraine already has strong expertise and Europe needs to strengthen:
– electronic warfare (e.g., jamming enemy drones)
– unmanned aerial vehicles;
– smart materials (e.g., armor that changes properties);
– sensors and equipment for drones;
– communication and navigation without GPS.
What we know about NUNC Capital and its partners in Ukraine
NUNC Capital is a European venture capital firm headquartered in Amsterdam that has been specializing in defense tech investments and the development of defense startups since 2013.
The company is a partner of the Ukrainian platform Brave1, which supports the development of military technologies, and a member of the European Defence Tech community, which brings together innovative defense businesses.
Brave1 was launched in April 2023 to stimulate the development of military innovations and defense technologies. As of mid-December last year, more than 3,200 developments from more than 1,400 manufacturers were registered on the Brave1 platform. More than 230 developments have been codified in accordance with NATO standards.
What investments do defense startups receive?
In 2025, the Ukrainian defense tech sector expects to attract $100 million in investments. This was stated by Natalia Kushnerska, CEO of Brave1, during the Defense Tech Innovations Forum-2025.
“If we talk about investments, last year it was $40 million. This may not be a big amount, but compared to 2023, when it was $8 million, it is a fairly large increase. And this year, we plan to reach $100 million,” Natalia Kushnersky explained in a comment to Militarny.
She added that investments started at $20,000, $30,000, $35,000, and now they are several million dollars, sometimes exceeding $10 million.
What is a venture builder?
It is a company that combines a venture fund and a startup studio. That is, it is a company that operates on a business model that allows it to create businesses from scratch and support them at all stages of development, attracting internal financial and intellectual resources.
Simply put, these are companies that professionally launch and develop startups. But unlike investment funds, they don’t just write a check, they share the founders’ idea, act as mentors, investors, and facilitators, helping startups succeed. This approach allows startup teams to focus on product development and improvement without wasting time on raising funds and building administrative functions from scratch.
That is, venture capitalists:
– provide financial support at the pre-seed, seed, and round A stages;
– attract internal investments, meaning that founders don’t have to look for investors and pitch their product idea dozens of times
– help to build a business model – venture capitalists professionally launch startups, and therefore know how to build a business model and strategy for different products;
– share expertise – they help startups with legal, operational, and managerial issues;
– expanding their network of contacts, helping to establish connections and develop partnerships with market players.
For their work, venture capitalists receive a percentage of the startup’s profits. This percentage varies depending on the degree of involvement in operational processes.
