EUVC E507 | Björn Tremmerie, European Investment Fund: Tech Sovereignty, DPI Realities & Europe’s Venture Evolution
Jun 29, 2025
Björn Tremmerie, Head of Technology Fund Investments at the European Investment Fund, shares insights on the evolving landscape of European venture capital. He discusses the importance of resilience and autonomy amid market challenges, viewing volatility as an opportunity for innovation. Tremmerie highlights the role of the EIF in shaping tech sovereignty and the complexities of funding defense technologies. He presents truths about market performance and reflects on his extensive experience, emphasizing a balanced approach between openness and self-reliance in the ecosystem.
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European Venture Maturity and Opportunity
- European venture capital has matured to where managers no longer panic in crises but navigate them with experience.
- Volatility is seen as an opportunity to make money, not just a period of risk or fear.
Improved DPI Signals Growth
- Current European venture DPI (Distributions to Paid-In) ratios are much higher than in 2017, indicating improved fund performance.
- Despite a tough exit environment now, historical data shows this situation is cyclical and likely temporary.
Defense Tech Focus Beyond Weapons
- European investment in defense tech focuses on dual-use technologies, excluding weapons and ammunition.
- The priority is securing cyber infrastructure, space access, communications, and energy sovereignty rather than traditional arms.