Lakestar Seeks to Raise a $300 Million European Defense Fund (1)

Lakestar, a European venture capital firm that backed Spotify and Revolut, is pitching investors on a new fund dedicated to defense technologies, according to people familiar with the matter.

Klaus Hommels, Lakestar’s founder and chairman, is targeting a fund of $250 million to $300 million, said the people, who asked not to be identified because the discussions are private. Early fundraising talks started last year, the people said. Formal fundraising efforts began in recent weeks, one other person said.

Klaus Hommels

Photographer: Andreas Rentz/Getty Images

A Lakestar spokesperson did not respond to an emailed request for comment.

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