EuropeanSpace&Dual-UseIntelligenceNetwork
Libertas per technologiam — Freedom through technology
Catalyze the deep tech innovation that safeguards and advances the strategic capabilities and sovereignty of European nations.
Building domestic capabilities for a new era of European strategic autonomy — from orbit to ground, from lab to market.
European defence spend by 2030
European DSR VC funding 2024
Unique defence investors in Europe
Space downstream market 2024
The Structural Problem in Europe
Europe has world-class scientists and frontier technologies. But it lacks three things other global powers have.
Low-friction environment
for deep tech innovators
Bridge
between academia, industry and government
Mechanism
to turn scientific breakthroughs into commercial traction
Why Aquila
Named after the Constellation of the Eagle
It sits at the intersection of aerospace, defence and sovereignty. Aquila Ventures focuses on the technologies that operate across orbit, air and the systems that connect them to the ground.
We invest in capabilities that reinforce sovereignty and strategic control.
The Opportunity
+19% YoY defence spending
showcasing the need to develop sovereign capabilities on a country-by-country basis
+55% YoY European DSR VC funding
$8.7bn becoming 43% of deeptech and 13% of overall European VC investments
30x corporate investments
and 4x M&A operations in European defence tech, led by national champions and 'new primes'
What is Aquila
Aquila is a European intelligence and evaluation network for space and dual-use technologies. It combines four layers.
Technical Review Board (TRB)
Independent experts providing technical assessment of startup technologies. We evaluate feasibility, differentiation, and defensibility before capital is at risk.
Industry Fit Assessment
Access to corporate roadmaps and long term investment interests of leading industry companies. We stress-test product-market fit against real procurement cycles.
Selective Investment Club
Deal-by-deal investing in the top startups that pass our technical, commercial and financial filters. First check together, conviction over hype.
Business Development
Open doors to portfolio companies to defense primes, agencies, integrators and institutions — turning technical excellence into commercial traction.
How Aquila Operates
From breakthrough to scale
Scientific breakthrough feeds technology development, which attracts investment, which unlocks business development — and each cycle strengthens the next.
Our pipeline filters hundreds of startups down to the ones with real technical merit and commercial viability.
Source
Dealflow Generation
Filter
Initial Screening
Validate
TRB Assessment
Evaluate
Industry Commercial Assessment
Select
Shortlist
Deploy
Investment & Strategic Support
Investment Thesis
First Check Together
We deploy capital at the earliest stage, when expert judgment matters most and asymmetric returns are born.
Pre-Seed, Europe-First
We focus on pre-seed rounds across Europe with a special lens on Southern European deep tech — where world-class talent meets overlooked markets.
De-Risked Early Stage
Government grants and funding cover early development costs, show strategic alignment with end-users and provide long-term revenue streams. We invest where public funding has already validated the science.
Co-Investment Model
Deal-by-deal investing with full transparency. Every member chooses which opportunities to back, supported by our technical and commercial diligence.
Technologies
Space, Defence, Energy, Dual-Use
Stage
Pre-Seed
Geography
Europe — focus Southern Europe
Model
Co-investment, deal-by-deal
New geopolitical paradigm
Long term NATO target of 5% of GDP defence budgets across all nations, meaning >€1tn/year by 2030 and ~€2tn/year by 2035. Startups access multi-year contracts and grant schemes, making equity capital go further since founders are not burning cash on basic R&D — they're scaling proven technology.
Why Experts, Operators and Investors Join Aquila
Built for those who build
Research Fellows
This role is for you if you are frustrated seeing research die in the lab, you dislike how complex science is oversimplified in pitch decks, and you care more about being right than being popular.
Your role
- Evaluate technical feasibility and scientific depth
- Challenge assumptions before money is at risk
- Shape early decisions where your judgment truly matters
What you earn
- Real influence on capital allocation
- Early exposure to non-public technologies
- Recognition as a trusted technical authority
Industry Principals
This role is for you if you have taken complex technology to market before, you know that execution kills more startups than science, and you are tired of seeing the same avoidable mistakes.
Your role
- Stress-test business models and go-to-market logic
- Identify operational risks early
- Translate technical potential into commercial reality
What you earn
- Early access to high-quality dealflow
- Strategic influence from day one
- Advisory roles, board exposure, investment optionality
Investors
This role is for you if you suspect most deep tech venture is driven by hype, you know technical ignorance is an invisible risk, and you prefer fewer deals with real conviction.
Your role
- Deploy capital backed by expert judgment
- Focus on asymmetric opportunities, not volume
- Participate where understanding precedes pricing
What you earn
- A real technical filter before investment decisions
- Legitimate information advantage
- Access to rounds before narratives inflate valuations
Founding Partners
Operators, not observers
Enrique Casado
Founding Partner
Deep tech venture investor with experience building and managing early-stage investment clubs and incubation initiatives. Background in product management and strategy consulting.
Inigo Estebanez de la Mata
Founding Partner
Deep tech and aerospace & defence venture professional with hands-on experience in startup assessment and acceleration programs. Focused on scaling space and defense startups through strategic partnerships.
Miguel Pascual
Founding Partner
Founder of Hareas, a downstream deep tech company. Background in early-stage startups, due diligence and fundraising, with experience connecting players across the ecosystem.
Membership and Selection
For those who dare to build Europe's technological sovereignty
Aquila is an invitation-only network. Apply below or request an introduction.
Selection Criteria
- Proven technical expertise
- Demonstrated industry leadership
- Strategic interest and discipline as investor
Members are selected based on
- Value contributed
- Domain expertise
- Reliability & reputation
- Alignment with dual-use and space ethics
- Long-term commitment, not transactionality
Contact
join@aquilaventures.com
Libertas per technologiam