What We Invest In
Dual-use companies whose technologies serve civilian critical infrastructure today, with a clear expansion pathway into military and security procurement. The same technology — two buyer pathways, both targeted simultaneously.
Critical Infrastructure · Dual-Use VC · CEE Focus
The Technologies Behind
The Technologies Behind
Europe's Resilient Future.
We invest in dual-use technologies that wedge into Europe's critical infrastructure as it gets built — same VC returns across both civilian and defence go-to-market pathways.
Connect With Us
€160M
Target AUM
70+
Years Combined Experience
€300B+
EU REPowerEU Capital
80%+
CEE Geography
Fund Overview
Critical Infrastructure Dual-Use VC
Peacemaker Fund is a SICAV sub-fund acting as lead investor at Seed and Series A in technology companies across Central and Eastern Europe — focused on dual-use innovations that serve both civilian infrastructure and national security.
Where We Invest
Central and Eastern Europe — where Europe's defence and energy resilience capital is concentrating fastest. We operate at the intersection of the EU REPowerEU cycle and NATO's CEE modernisation programme, with over €300B in public deployment ahead.
How We Add Value
As lead investor, we compress years of procurement relationship-building into months through direct access to NATO, EDA, national MoDs, and EU programme capital — opening doors no other fund in the region can.
Investment Strategy
Two-Pillar Framework
Same technology. Same target returns. Two distinct go-to-market motions — differentiated only by who drives the customer acquisition.
60%
Pillar A
Market-Pull
Commercial demand drives the buy.
Customer
Utilities, ports, hospitals, data centres, telcos, OEMs
Demand Driver
Operating economics & regulatory compliance
Examples
Hydrogen generators · AI earthquake forecasting · Autonomous surveillance drones · Ground-penetrating radar
Exit Edge
Dual-use exit premium — defence primes pay 2–3× revenue multiples
40%
Pillar B
Program-Pull
Public capital programme drives the buy.
Customer
NFOŚ · EU Hydrogen Bank · NATO Smart Energy · CRMA
Demand Driver
Public capital calendar — visible 12–24 months ahead
Examples
Biogas position · Microgrid orchestration · Critical materials
Timing Edge
We see the procurement pipeline before others — advance visibility, before tender
Focus Areas
Six Technology Domains
Six technology families exist within both pillars. Pillar A or B is determined per deal, not per domain. All domains target the critical infrastructure resilience gap across Europe.
D1
Distributed Energy & Microgrids
Modular generation, energy management systems (EMS), battery energy storage (BESS). Decentralised, resilient power for critical sites: military bases, data centres, hospitals.
D2
Hydrogen, Biogas & Synthetic Fuels
Electrolysis technologies, biogas upgrading, biomethane production, hydrogen fuel cells. Aligned with EU REPowerEU and the European Hydrogen Bank capital programmes.
D3
Smart Grid & Energy Cybersecurity
AI-driven grid management, advanced battery controls, OT/IT security for critical energy infrastructure. Hardening grids against cyberattacks targeting national power systems.
D4
Critical Infrastructure Protection
Sensor networks, autonomous underwater vehicles (AUVs), edge AI, satellite Earth observation. Protects undersea cables, pipelines, ports, and border infrastructure.
D5
Critical Materials
Battery recycling, rare earth element (REE) recovery, permanent magnet manufacturing. Reduces European strategic dependency on single-source supply chains for defence-critical materials.
D6
Resilient Water, Comms & Logistics
Off-grid water purification, mesh communication networks, LEO satellite communications. Critical infrastructure for operating when conventional public systems are disrupted or destroyed.
"We don't pitch the thesis. We live it — with capital deployed across both pillars."
Peacemaker Fund · Investment Brief v5.0 · 2026
Track Record
Invested
Invested
Operating
Already Invested. Already Operating.
Both pillars are proven with capital deployed and operations running. The thesis is not theoretical.
Pillar A · D1 + D2
Hydrogen Generators
CEE · Hydrogen + Microgrid Technology
Portable hydrogen fuel-cell generators delivering zero-emission, reliable power for defence logistics and construction applications. Commercial customers from day one with clear military procurement pathway.
Why It Matters
Market-Pull thesis validated: commercial demand driven by operational economics, dual-use exit pathway to defence primes confirmed.
Pillar B · D2
Biogas Position
CEE · Biogas / Biomethane Technology
Position in biogas and biomethane production and upgrading technology, anchored to NFOŚ and EU REPowerEU programme capital flows. Public capital visibility de-risks scale-up execution.
Why It Matters
Program-Pull thesis validated: public capital calendar visible 12–24 months ahead, procurement cycle confirmed.
Pillar B · D1 + D3
Microgrid Programmes
Poland · National / State Level
Edward Mężyk leads national and state-level energy resilience microgrid programmes — identifying technology gaps from inside the procurement process, before tender is issued.
Why It Matters
Bridge advantage in action: compressing 36-month defence sales cycles to 12-month proofs-of-concept using insider programme access.
Competitive Advantage
Why We Win Deals Others Cannot
An edge that cannot be replicated by tech-only or finance-only general partners.
Bridge Advantage
Edward Mężyk simultaneously operates as a deeptech entrepreneur (tech-supply side) and as a national microgrid programme leader (program-demand side). This bridge cannot be replicated by GP teams that come from only one side of the equation. We see what technology the infrastructure pipeline needs before the tender is published.
Strategic Access
Direct institutional channels to NATO HQ, European Defence Agency (EDA), National Ministries of Defence, NATO Smart Energy Team, NFOŚ, and DIANA. We accelerate the portfolio company procurement processes that would otherwise take years of relationship-building for a founder to navigate alone.
Decision Velocity
Two-partner Investment Committee, consensus model, zero committee paralysis. Founders receive term sheets in weeks, not months. In a competitive deal environment, speed is a meaningful edge. CEE's best dual-use founders choose backers who can move fast and add institutional credibility simultaneously.
Procurement Expertise
We compress typical 36-month defence sales cycles to 12-month proofs-of-concept. Lt. Gen. (Ret.) Fałkowski's 40+ years at the apex of NATO command and Polish MoD gives portfolio companies an institutional credibility and procurement network no other CEE fund can match.
Key Personnel
The Investment Committee
Defence and technology in lockstep. Two voting partners with 70+ combined years across venture capital, deeptech entrepreneurship, NATO command, and national defence policy. Backed by Luxembourg fund administration.
Edward Mężyk
Founder & Partner · Investment Committee
- Specialist bridging dual-use tech supply and infrastructure programme demand — a unique position no other GP holds
- Serial deeptech entrepreneur: Oxygen, Datarino Group, Cluify
- Successful fundraising and exits across deeptech ventures
- Leading microgrid programmes at national and state level in Poland
- Originator and architect of the Peacemaker Fund concept
Lt. Gen. (Ret.) dr Andrzej Fałkowski
Co-founder & Partner · Investment Committee
- 40+ years in defence policy, logistics and strategy
- Former Deputy Chief of General Staff, Polish Armed Forces
- Director of Logistics & Resources, NATO IMS Brussels
- Polish Military Representative to NATO & EU Military Committees
- Adviser to Ukrainian Defence Reform Board (2018–2023)
Kurt Lallemand
Fund Administration · Non-voting
Fund operations & SICAV administration. Compliance, regulatory reporting, LP servicing. Luxembourg-based fund operations expertise ensuring institutional-grade governance for the SICAV structure.