Klaus Hommels, founder of Lakestar and investor in Spotify and Revolut, warns Europe's reliance on US tech and capital is a strategic vulnerability. He cites Washington restricting Anthropic from exporting sensitive AI models as evidence Europe needs technological independence.

Lakestar raised a $300mn "resilience" fund for dual-use and defence tech across Europe and NATO allies, with investors including BAE Systems. Hommels, who chairs the NATO Innovation Fund's advisory council, has shifted focus to boosting Europe's resilience, tapping advisors like Mike Pompeo, Sir Nicholas Carter, Volker Wieker, and Martha Lane Fox.

Investor interest in defence tech has surged since Russia's 2022 invasion of Ukraine. Lakestar backs start-ups like Cambridge Aerospace, $18bn Helsing, and Isar Aerospace. Hommels pledged over €100mn of his own money in 2024, emphasizing European governance must prioritize European interests in escalation scenarios.

Hommels says 2025 is key for European defence start-ups to prove efficacy and win military contracts, urging mergers to create larger competitors. He notes Europe's advantage is mobilizing private capital, creating a flywheel when procurement recognizes these technologies.