Topics
Latest
AI
Amazon
Image Credits:Courtesy of Viktorija Trimbel
Apps
Biotech & Health
clime
Image Credits:Courtesy of Viktorija Trimbel
Cloud Computing
Commerce
Crypto
enterprisingness
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
computer hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
surety
Social
outer space
startup
TikTok
Transportation
speculation
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Europe is waking up to the motive to invest in defence force , andso are European VCs . But with a painful history of Soviet occupations , Lithuania did n’t wait for the third day of remembrance of Russia ’s invasion of Ukraine to strive its third day of remembrance to commit5 % to 6 % of its GDPto military spending — and stock defense startups .
Lithuania ’s independent VC fundCoinvest Capitalwas a groundbreaker in that regard , and it still is an outlier in not ask civilian use cases . “ We were the first in the region [ to be ] fully authorized to do defence investments back in March 2023 , ” said Viktorija Trimbel , its managing cooperator since February 2023 .
Unlike many Lithuanians , Trimbel is not tall at all . But what she miss in hoops potential , she makes up for in energy and inexorability , especially when it come in to advocating for invention in defense tech to strengthen Europe ’s security .
Unmanned Defense Systems(UDS ) , a Vilnius - based company focused on optimizing the “ kill string , ” received Coinvest ’s largest investment in that domain , but it is not the only one . harmonize to Trimbel , the evergreen plant fund has empower some € 6.8 million ( approximately $ 7.37 million ) into aerospace , defense , and dual - use inauguration since 2023 .
Compared to thebillion - dollar roundsflooding into U.S. defense technical school companies , the amount may not sound very impressive . That ’s unless you consider it per capita , something people often cheer you to do in this diminished Baltic rural area of 2.89 million inhabitants .
Co - macrocosm is another notion that Lithuania often accent , as does Coinvest . As its name suggests , the other - microscope stage fund is co - invest into startups with business angels and other VCs . For early - stagecoach deals , it adopted a cappedprofit - sharing structurethat Trimbel is peculiarly passionate about .
As a circuit card penis of the Lithuanian Business Angel internet ( LitBAN ) , which now has 324 members , she ’s particularly keen to see more smart money flow rate into the market . While the collective time value of Lithuania ’s inauguration ecosystemincreased 39 time in 10 eld , the country still lacks an expiration as impactful as Skype ’s was for Estonia .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
Still , liquidity upshot such asVinted ’s secondary salehad a drip - down effect , and Trimbel imagine Coinvest can multiply these euros fast . When it exited Interactio after just 18 months , its rules boosted saint investor ’ yield from 9x to 34x . “ I conceive that was one of the factors which facilitated an explosive growth of the business angel ecosystem , ” Trimbel said .
In defense tech , too , Trimbel champions the succeeder of others in securing capital . Coinvest ’s sole limited cooperator , Lithuania ’s national development bank , also provide “ major capital injections to other local VCs like BSV Ventures or ScaleWolf , include [ the ] Lithuanian contribution to the NATO Innovation Fund ( NIF ) , ” shecelebratedon LinkedIn .
Similarly , Trimbel ispleasedto see governments across Europe espouse the trend of “ investing in deterrence and defense to further support fight and resilience of European countries . ”
That ’s a want Lithuania is sorely aware of , often deeply in person . “ When I was 18 , I saw with my own eyes , Russian cooler killing people . So for us , it ’s not a textbook story , ” Trimbel said , referring to the 1991’sJanuary Eventsin which the Soviet armed services attempted to oppress Lithuania ’s independence movement .
The trauma of Soviet principle that ’s deeply ingrained in Lithuania ’s corporate memory stretch out far beyond 1991 . “ It ’s something that every family has experienced one means or another : occupation , exile , killings . We do n’t need to be teach why we postulate to invest in defense , ” Trimbel suppose .
Still , since the war in Ukraine , there ’s a renewed sensory faculty of urgency and solidarity . The 2025 edition ofRadarom , a public fundraising military campaign for Ukraine , collectedmore than € 5.6 millionfor drones and anti - drone system , include from UDS . Trimbel endorsed it , urging , “ stand Ukraine NOW … and any other daylight till victory . ”
Like near all Lithuanians , Trimbel recalls where she was when Russia launched its full - on invasion of its eastern neighbour on February 24 , 2022 . A few days earlier , she was afield with her two daughter , and they talk about whether they should reelect as sign of war amounted — until her youngest girl point out that they had to : They had left the African tea .
Cat or no cat , Trimbel would in all probability have devolve to Lithuania either agency . She points out that her first name , Viktorija , or Victory , is a good catch for her relentless personality . Her circle of girlfriends is also up to par : “ Instead of going to the bar and discuss a new pocketbook or a dress or lip rouge , we go to the shot chain of mountains , ” she said with a smile .
Of course , not everyone oppose the same way — it ’s only human to experience a flight or immobilise reflex . In the quick aftermath of the war , however , she aimed to get others out of this paralysis by encouraging them to take practical steps . One of them was to bring together volunteer initiatives that have gained steam across Lithuania .
The most emblematic organisation in that field of view is the government activity - backed nonprofit Lithuanian Riflemen ’s Union ( LRU ) . While it is consecrate to the defense and strengthening of Lithuania , its activities extend beyond military training : Together with Coinvest and others , it co - organized theFire Shield hackathon , which will return in 2025 for a third edition .
That ’s the context in which Trimbel is image above , together with the Union ’s commander , Lieutenant Colonel Linas Idzelis ( in uniform ) and retired Lt . Col . Valerijus Šerelis , former squadron commander of the extra operations military unit that thenot - that - random countrysent to support NATO ally in Afghanistan after 9/11 .
LRU also kick in to civilian response during the COVID-19 pandemic , as did Trimbel , who endue efforts into ahelmet - based ventilation protection project . “ COVID was a good rehearsal to mobilize society during time of threat , ” she said . For her , that threat has now changed , but it is very much real .
But even now , Trimbel cares about arena other than defense technical school , and so does Coinvest . She verbalise sky-high of portfolio startupWalk15and its upcoming “ Labrador walk , ” an outdoors hike with hot dog to promote people to take more steps to be more active — literally .
However , as she wrote in a recentLinkedIn post , “ no other investiture returns will count if Ukraine will not receive sufficient keep from allies and Europe will be invaded further . ” As her name and personality propose , she wo n’t relent in her elbow grease to prevent this termination .
