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DLA Piper advises on the launch and first closing of E2D Fund, a EUR 500 million dual-use and defence technology growth fund

DLA Piper has advised AVP and Earlybird on the launch and first closing of E2D, a Luxembourg-domiciled EUR 500 million dual-use and defence technology growth fund.

E2D is among the pioneering European investment funds dedicated to defence and dual-use technologies and one of the most significant Franco-German investment collaborations in the European defence technology sector, backing growth-stage companies across strategic domains including space, air, land, maritime and subsurface technologies.

The fund completed its first closing in July 2026, with Airbus Defence and Space joining as anchor investor. Airbus announced its commitment during the Farnborough International Airshow, underscoring the fund’s ambition to strengthen Europe’s defence tech ecosystem, support innovation and help close critical capability gaps.

DLA Piper advised on all Luxembourg, French and German aspects of the fund’s structuring and formation, including legal, regulatory and tax considerations, investor negotiations and the successful completion of the first closing.

The Luxembourg team was led by Caroline Pimpaud (Partner, Investment Funds) and included Luis Muñoz (Partner, Tax), Céline Curatola (Senior Associate, Investment Funds), Ali Duarte Jaber (Associate, Investment Funds) and Alizée Albertini (Associate, Investment Funds)

The French team included Raphaël Béra (Partner, Tax), Simon Charbit (Partner, Corporate) and Diane Campion de Poligny (Partner, Investment Funds).

The German team included Dr Caroline Herkströter (Partner, Financial Services) and Sabine Kimmich (Counsel, Financial Services).

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Cynthia Lydia Marbaniang
Associate & Staff Writer