NATO's Innovation Fund (NIF) has closed its investment round and is ready to make its first investments later this year. A total of 23 of NATO's member states joined the fund, which has announced that they welcome a Swedish accession after joining NATO. Sweden's contribution will be added to the current capital of 1 billion euros, according to a press release from the Ministry of Defence on 1 August.

– As a NATO member, Sweden will contribute to the alliance's strength not only through our geographically strategic location and our military capabilities but also through a vibrant security and defence industry that promotes innovation and the development of cutting-edge technology. Participating in NIF is an additional way to enable this, says Defence Minister Pål Jonson in the press release.

NIF is the world's first independent venture capital fund with multiple states as owners. The 23 participating NATO member states are represented at the highest level within government administration, venture capital, innovation, and defence. NIF will make both direct investments in start-ups in the 23 participating states and indirect investments in funds focusing on technology-intensive innovation and impact on both sides of the Atlantic.

– At this year's summit, Sweden advanced further on the path to becoming the 32nd country to join our alliance, and this historic step leaves the way open for Sweden's participation in NIF and contribution to the fund's important mission, says David van Weel, NATO's Assistant Secretary General for Emerging Security Challenges.

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