DTCP Launches €20M Fund for Defence and Security Startups
DTCP has launched a €20 million fund, Project Liberty, targeting Series A to C defence and security startups in Europe, focusing on dual-use technologies like cybersecurity, AI, and autonomous systems. The programme targets individuals aged 15 to 35 and focuses on enhancing skills and enterprise development, providing a foundation for sustainable economic growth and innovation.
DTCP, a prominent investment firm with a longstanding focus on information technology and security, has announced the launch of a new €20 million fund dedicated to investing in defence and security startups. This initiative, known as Project Liberty, is aimed at bolstering European defence investments with a particular focus on dual-use startups operating in sectors such as cybersecurity, artificial intelligence, and autonomous systems.
Project Liberty: A New Chapter in European Defence Investments
Project Liberty marks a significant step for DTCP as it seeks to strengthen its portfolio in the field of security and dual-use technologies. The fund primarily targets startups in the Series A to C financing stages, which are crucial phases for scaling innovative solutions. The focus areas include software development, cyber defence, AI-driven technologies, and autonomous systems, reflecting DTCP's strategic approach to enhancing defence capabilities through cutting-edge innovations.
DTCP's commitment to these sectors is not new. The firm has been investing in IT and security for over a decade, establishing a robust portfolio that includes several companies at the forefront of cybersecurity and artificial intelligence. Project Liberty is expected to further expand DTCP's influence and support the development of technologies that are increasingly important for national and regional security.
Federal Government to Launch Investment Funds in 2026
In a related development, the federal government is set to introduce two significant investment funds by 2026, aimed at fostering growth in the Nigerian tech and creative industries. These funds are part of President Tinubu's Renewed Hope Agenda, a comprehensive plan to stimulate economic development and job creation across the nation.
The initiative will see Ventures Platform appointed as the Technology Fund Manager, tasked with overseeing the distribution and management of resources to tech startups and creative enterprises. This move is expected to invigorate the Nigerian entrepreneurial ecosystem and provide substantial support for emerging businesses seeking to scale their operations.
Impact of the iDICE Programme
The investment funds form a core component of the broader iDICE programme, which has secured $617 million in funding to support various initiatives aimed at empowering young Nigerians. The programme targets individuals aged 15 to 35 and focuses on enhancing skills and enterprise development, providing a foundation for sustainable economic growth and innovation.
The iDICE programme is supported by key international partners, including the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the French Development Agency (AFD). This collaboration underscores a shared commitment to addressing youth unemployment and fostering a dynamic environment for technological advancement and creative expression.
Collaborative Efforts to Tackle Youth Unemployment
The collaboration between DTCP's Project Liberty and the federal government's investment initiatives highlights a concerted effort to tackle pressing economic challenges, particularly youth unemployment. By investing in sectors that promise growth and innovation, these initiatives aim to create a fertile ground for job creation and economic empowerment.
As both European and Nigerian markets stand to benefit from these strategic investments, the focus on nurturing startups in key areas such as cybersecurity, AI, and creative industries is poised to drive significant advancements. The collaborative approach between government bodies and private investment firms like DTCP reflects a broader trend of leveraging public-private partnerships to achieve sustainable development goals and foster a resilient economic landscape.