Lithuania becomes co-founder of NATO’s EUR 1 b innovation fund

Lithuanian Defense Minister Arvydas Anusauskas, defense ministers from 16 other NATO countries, and Secretary General Jens Stoltenberg signed on Friday the Declaration of Intent for the NATO Innovation Fund.

The 1-billion-euro venture capital fund will aim to attract investment from NATO countries as well as major private equity investment and technology companies, the Lithuanian Defense Ministry said in a press release.

The fund will invest in promising start-ups in the Alliance’s member countries and will help develop and apply emerging technologies, such as artificial intelligence, autonomous, quantum, supersonic, biotechnology and others, in the security and defense sectors, it said.

Chairman of the NATO Military Committee in Lithuania in 2020.