The president of the European Investment Bank, Nadia Calviño, has announced recently, together with the @CDTI_innovacion, an investment in Nazca Aeroespacial and Defensa INNVIERTE I FCR fund. With a target size of up to €600 million, this vehicle is the largest Spanish private equity fund specializing in aerospace and defense and one of the largest in Europe.
As Nadia Calviño emphasized, this operation strengthens public-private collaboration, mobilizes strategic financing for innovation and security, and seeks to position Spain as a European leader in defense technology. It will also contribute to consolidating a key sector for the industrial future, generating quality employment, and reinforcing European strategic autonomy in a complex international context.
This fund is mainly dedicated to supporting Spanish start-ups and innovative companies working on products and technologies for defense and dual-use applications. Through the Innvierte program, CDTI has committed nearly €294 million as an anchor investor in this fund, whose first closing is expected in the second half of 2025, while fundraising from other institutional investors remains open.
The EIB plans to allocate €3.5 billion in 2025 to the security and defense sector, representing 3.5% of its total financing. Calviño highlighted that the bank has 30 “strong projects” in its European pipeline and emphasized “major innovation agreements” with companies such as Indra and Thales.
“I believe the EIB is right now where it needs to be: supporting military transport corridors, supporting large strategic infrastructures in the field of security and defense, innovation, and SMEs in the value chain,” Calviño stated, also underscoring the EIB’s unique position thanks to its “AAA” credit rating. Although 90% of its investments are made in Europe, the EIB also focuses on regions such as Africa, Latin America, and the Middle East.
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