Gungnir Capital
Swedish defense-focused venture capital firm; participated in Kelluu's €15M Series A.
Gungnir Capital is a Stockholm, Sweden-based venture capital firm specializing in early-stage European defence technology and dual-use innovations, positioning itself as "Europe's premier specialized defence technology venture capital fund." The team combines military operational expertise with institutional capital discipline.
Overview
- Firm
- Gungnir Capital
- Headquarters
- Stockholm, Sweden
- Founded
- 2025
- AUM
- not disclosed (Fund I actively raising, third closing in progress)
- Stages
- Pre-Seed, Seed, Series A
- Thesis
- Invests in European defence-tech startups at Pre-Seed through Series A, driven by geopolitical trends and lessons from Ukraine's approach to defense innovation, with the greatest opportunity seen in autonomy/drones, software, AI, and edge computing; most deal activity expected in the Nordic region.
Portfolio companies1
Partners0
No linked records yet.
Frequently asked
- What is Gungnir Capital?
- Invests in European defence-tech startups at Pre-Seed through Series A, driven by geopolitical trends and lessons from Ukraine's approach to defense innovation, with the greatest opportunity seen in autonomy/drones, software, AI, and edge computing; most deal activity expected in the Nordic region.
- What stages does Gungnir Capital invest at?
- Gungnir Capital invests at Pre-Seed, Seed, Series A.
Sources & citations3
Each claim links to its underlying source. Confidence reflects how directly the source supports the claim.
- 1
Gungnir Capital is a Stockholm-based defence technology venture capital fund investing at Pre-Seed through Series A with check sizes of ~€200K-€1M, led by Max Villman, Einar Skjerven, and Olof Faxander.
Gungnir Capital: gungnir.vcVerified2026-08-08 - 2
Gungnir Capital was founded in 2025 and is headquartered in Stockholm, Sweden.
LinkedIn: Gungnir Capital company pageVerified2026-08-08 - 3
Gungnir Capital's thesis is driven by lessons from Ukraine's approach to defense innovation, with a Nordic regional focus.
M&A News (mainsights.io): New Swedish VC Gungnir Capital is raising capital for European defence tech investmentsReported2026-08-08