Europe’s Biggest Tech Defense Fund Set for €500 Million

German investor Digital Transformation Capital Partners GmbH is on track to raise Europe’s largest-ever dedicated venture capital fund for defense startups, signing its first big backers for a fund targeting €500 million ($580 million).

DTCP, which was spun out of Deutsche Telekom AG a decade ago, has closed investments from its anchor backers, managing partner Thomas Preuss told Bloomberg News. He confirmed that DTCP is eventually targeting €500 million for the fund.