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Private Credit Pivot: How Sienna Hephaistos and the EIF Are Solving the Defence SME Liquidity Gap (2025–2026)
While sovereign guarantees and innovation grants reshape the macro landscape, a critical bottleneck remains on the factory floor: liquidity.
Mapping Defence-Oriented Private Credit Instruments in Europe and Allied Markets
Introduction: Europe’s abrupt shift towards rearmament after 2022 has unleashed a surge in defence procurement that is testing the limits of traditional…
THE CAPITAL RE-ARMAMENT: Banking, Public Finance and Private Credit for Defence Industrial Readiness
In the decade preceding 2022, Europe’s defence financing was characterised by restraint, institutional fragmentation and a deliberate separation between…
THE CAPITAL RE-ARMAMENT: European Defence-Native VCs & The Strategic Asset Map (2025 Outlook)
Europe’s defence-tech resurgence is being driven by a structural shift in how capital, industry and policy interact.
ETNA and Danish Pension Funds: A New Signal in Europe’s Defence Capital Markets
For decades, European pension funds tended to treat defence in a manner similar to tobacco: a sector formally investable in legal terms, but effectively…
Liquidity Events in Dual‑Use: Who Will Buy Defense Startups When IPOs Are Off the Table?
Venture capital in the defense and dual-use technology sector is rising rapidly, but one fundamental question still defines investment behavior: who…
Defence ETFs: Volatility and Sector Rotation
Over the past two weeks, the behaviour of European defence-focused ETFs has illustrated how quickly market sentiment can shift when geopolitical…
The Emergence of Defence-Oriented Sovereign Wealth Allocations
Introduction
The Rise of Defence-Thematic ETFs and Europe’s Strategic Investment Shift
The expansion of European defence-thematic exchange-traded funds in 2025 marks a significant moment in the financial institutionalisation of Europe’s…
Defence Private Credit as an Instrument to Rapidly Close Production Bottlenecks
Europe’s accelerated rearmament has opened a financing landscape that is reshaping the defence-industrial base far more quickly than public budgets can.
Europe’s New Financial and Defence Architecture
The consolidation of the European Union’s borrowing operations and the launch of SAFE represent one of the most consequential structural shifts in…
The Shift from Valuation-Driven to Capability-Driven Investment Logic
Defence finance is entering a phase in which strategic relevance is defined less by traditional valuation metrics and more by alignment with…
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