NEW FRONTIER FUND

Investing in Dual Use, Cybersecurity
and Defence Technologies

Fund at the first glance

Fund Size

€60M (Hard Cap €100M)

Stage

Pre-Seed & Seed

Sectors

Defence, Dual Use, Cybersecurity, Robotics



Geography

Spain & Europe (with selective global opportunities)

Seed stage investment with follow-ons

1. Defence & Dual-Use Technologies

This New Frontier Fund is an extension built upon our previous work. 
Global instability and renewed conventional warfare highlight the urgent need for scalable, cost-efficient defence innovation. Ukrainian and Baltic startups have demonstrated how agile, low-cost solutions can complement large Western systems. We select the best critical startups from underserved markets to scale them globally. .

2. Cybersecurity

It’s no longer just hardware. It’s cyber now. 
With the surge in digital threats, demand for data security, vulnerability management, and AI-driven defence has intensified. The fund supports early cybersecurity innovators building advanced, autonomous, and AI-assisted protection systems, serving both civilian and critical clients.

3. Robotics

It’s about National Industrial resilience, and Space Economy in the future. 
Automation and robotics are reshaping EU’s manufacturing capacity, logistics, and industrial resilience. Areas of focus include autonomous systems, swarm robotics, exoskeletons, inspection robots, and AI-driven robotic integration – these technologies, we believe, will be reinforcing “dual-use” value creation for the human kind in the long run beyond decades. 

Why to Invest?

NATO-aligned countries face shared defence and technological national sovereignty. 
Our fund hopes to address the challenge from a bottom-up & pragmatic approach. 



  • Strategic alignment with transatlantic security priorities.


  • Market access to NATO procurement and dual-use innovation programs.


  • Support for interoperability and standardisation within the alliance’s defence tech ecosystem.


With deep relationships across Ukraine, the Baltics, Poland, Spain, and Nordic defence networks, the fund enjoys privileged deal flow through government, NATO, and venture partnerships.

Investment thesis

New Frontier Fund pioneers early-stage defence and dual-use venture capital in Europe.
Leveraging the GPs’ 13+ years of experience and over 450 prior investments, it identifies
high-impact founders in underserved ecosystems, offering both funding and
strategic commercialisation support.

General Partners

Wendy Keski-Keturi (Cheng)


13+ years in global venture building, robotics, and tech sales; Co-founder and former Secretariat for International Alliances for Robotics; recipient of “50 Women You Need to Know (2021)”.

Chairman

Cristobal Alonso

INSEAD MBA, author, serial entrepreneur, and investor with 450+ early-stage investments, including 45+ in defence and cyber.