Lithuanian defense investment fund MILInvest 2 receives €40M

The Ministry of Economy and Innovation together with the Ministry of National Defense of the Republic of Lithuania is allocating €40M to the defense investment fund MILInvest.

MILInvest is a defense investment fund that invests in innovative companies in the fields of defense and security. The fund was established following the signing of a financial agreement between ILTE and the Ministries of National Defense, Economy and Innovation of the Republic of Lithuania.

The new MILInvest instrument is designed to promote pilot development and innovation in Lithuania's defense and security sector. It will focus on attracting investments from micro, small and medium-sized enterprises, developing defense technology ideas, building teams and strengthening competencies.

MILInvest 2 will be managed by ILTE UAB, which plans to select two financial intermediaries to manage the funds, implement pre-acceleration programs, accelerator programs and invest in companies. The announcement on the selection of financial intermediaries is expected in the fourth quarter of 2025 year.

The first MILInvest program was launched in 2023 with a budget of €13.5M. This program has already received investments from Pulsetto, which is developing a vagus nerve stimulator, Active Photonics, which is developing laser technology, Granta Autonomy, which is developing an FPV drone, Blackswan Space, which is developing space technology, and BROSWARM, which is developing demining solutions.