The €1bn NATO Innovation Fund Faces Third Partner Departure in a Single Year

In the sphere of deeptech and defense startups, NATO Innovation Fund (NIF) was hoped to shed a brighter light. Backed by 24 NATO allies, this €1bn venture was launched to spur innovation and development in the defense sector, straddling both commercial and military applications. However, recent developments suggest a challenge on the home front.

In a staggering loss of talent, the NIF has seen its third senior partner leave the firm in approximately a year. The latest departure is Chris O’Connor, a founding member of the reputable organization. Prior to joining the fund, O’Connor had solid experience as a partner at US-based early-stage VC Harpoon Ventures and served in the US Airforce.

Despite these departures, NIF’s influence continues to be seen across the industry. The fund has backed several standout VCs, including OTB Ventures and Vsquared Ventures, and has invested in exciting startups such as German spacetech Isar Aerospace and unmanned robotics company ARX Robotics.

At a time when defence tech is enjoying increasing popularity among VCs, these departures are a hiccup in an otherwise promising path for the NIF. Regardless, the fund remains a major player in the ecosystem, and its remaining partners, Kelly Chen and Patrick Schneider-Sikorsky, continue to spearhead the mission.

NIF spokesperson Amalia Kontesi remains positive, stating that the firm is grateful to Chris for all of his contributions, and they look forward to seeing what he will achieve in his new role. This attests to the resilience and adaptability of the fund, which resides at the heart of the ever-evolving deeptech and defence startup ecosystem.