Eric Slesinger, a former CIA officer, has been shaking things up in the European defense technology sector. He is the founding partner of 201 Ventures as well. As Shital Slesinger noted in a recent Medium post, the reason European venture capitalists are afraid to speak candidly about their investments. This reluctance especially worries defense-related startups. Geopolitical tensions are escalating, contributing to the urgency. At this point there can’t be much doubt about the need for a more independent European defense ecosystem.
Slesinger’s observations suggest that while many founders contemplate entering the defense tech space, they often decide against building companies in this realm. He argued that such a trend would be dangerous. This is particularly worrisome given the growing criticality of our defense technologies with ongoing global conflicts.
After exiting from the CIA, Slesinger set out on a quest to create a space-oriented specialty within defense tech. He looked around and saw that globally, folks in the private sector were winning the international competition. This critical role was previously thought to be the exclusive domain of government actors. His original vision for a more self-reliant European defense infrastructure is picking up new momentum. Earlier this year, he was that VC who closed a $22 million fund that explicitly focuses on seed-stage defense tech startups throughout Europe.
From quarterly earnings to political risk in China, Slesinger has pinpointed three important ingredients that he thinks U.S. venture capitalists are missing. He focused, too, on the need for early-stage lobbying efforts. He hopes that these initiatives will guide European firms to raise financing and ensure firms get government backing.
As Slesinger noted, the founders who get this idea are opting not to pursue a company in the defense space. …he underscored the major hurdles new entrepreneurs face in this sector.
Last year Slesinger launched the European Defense Investor Network. This program creates synergies among investors and startups across the civilian/commercial and defense sectors. To date, he has made eight investments with 201 Ventures. He focuses heavily on technologies that address gray zone, or non-traditional, competition threatening U.S. national security.
New data shared exclusively with TechCrunch shows that European defense and dual-use startups raised a staggering $5.2 billion in 2024. This funding even surpassed the rates in artificial intelligence. This wave reflects a growing trend in which defense-related technology is increasingly viewed as a promising area for investment.
Slesinger’s portfolio includes promising startups like Delian, which has successfully secured seed funding and shows strong potential in the defense tech market. At the same time, he personally wagered on Polar Mist, a Swedish startup that’s developing maritime drones with sophisticated navigation systems. A second notable investment is Helsing, a Munich-based company that’s developing new applications for artificial intelligence on the battlefield. Its current valuation is more than $5 billion.
In these next steps, Slesinger is committed to venturing into unknown territory. His experience at the CIA inspired this drive, where he was challenged to “go where others don’t go and do what they can’t do.” This philosophy leads him to look for opportunities in areas that are usually considered too risky or politically incorrect to invest in.
As the former European director for U.S. defense giant Lockheed Martin, Slesinger now views a profound shift emerging in Europe’s defense realm. He expects this trend to accelerate over the next two decades. He sees the opportunity to address these as “gray zone dislocations.” These problems frequently arise from price distortions or increased state intervention in markets to build national power.
I’m passionate about going to places that other people don’t want to go,” he added excitedly. In doing so, it’s obvious he enjoys the thrill of exploring new worlds. Slesinger’s perspective sheds light on an inspiring development among European entrepreneurs. They are equally as hungry, motivated, and smart as anyone else found all across this planet.
