European Sovereignty Monitor

Industry, investment and R&D

Sweden's Varangians closes EUR 10 million first fund for Ukrainian defence tech

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.

Reported Editor-read EU-Startups, 12 June 2026

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

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

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