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# Sweden's Varangians closes EUR 10 million first fund for Ukrainian defence tech
- URL: https://sovereigntymonitor.eu/news/2026-06-12-varangians-ukraine-defence-fund/
- Published: 2026-06-12T12:00:00.000Z
- Updated: 2026-09-23T12:00:32.000Z
- Description: Stockholm's Varangians, founded by a Swedish family office with Par Lager, Andreas Flodstrom and Jonas Rydin, closed a EUR 10 million first fund on 12 June 2026 to back Ukrainian makers of drones, electronic warfare and secure communications.
- Author: Reidar Balstad
- Tags: Industry, investment and R&D, Defence and space, #news, #reported, #editor-read

Reported Editor-read [EU-Startups, 12 June 2026](https://www.eu-startups.com/2026/06/ukraine-focused-defencetech-fund-varangians-closes-e9-1-million-in-stockholm/?ref=sovereigntymonitor.eu)

**What it does not test.** Does not establish EU institutional co-funding, or that the portfolio firms operate under European Union law or supply European armed forces directly.

**How this item counts.** No movement: no answer to who owns, who operates, whose law governs or who made the parts changes. Weight 0\. Swedish EUR10m fund backs Ukrainian defence tech; Ukraine outside this index's Europe geography. [European Sovereignty Index](https://sovereigntymonitor.eu/sovereignty-index/)

**How this item was made.** Drafted by an AI system (Claude (Anthropic)) from the source cited above; read and approved by the editor on 2026-09-23\. [How the record is made](https://sovereigntymonitor.eu/method/#how-the-record-is-made)