European defense effort: Sienna IM celebrates the first closing of its private credit financing strategy focused on defence-related SMEs and mid-caps
Sienna IM has celebrated, in the symbolic setting of the Hôtel National des Invalides, the successful first closing of its Sienna Hephaistos fund, which is part of its private debt strategy dedicated to financing SMEs and mid-caps in the defense industry.
After three decades of underinvestment, Europe must now address its gap in terms of security and defense. Current geopolitical tensions have highlighted structural weaknesses within the defense supply chain. Many SMEs and mid-sized companies, essential for supplying specific components and technologies and subcontractors to large industrial groups, are struggling to quickly raise the necessary financing in support to the fast growth in their order books. These companies are supported by various financial solutions, such as the Sienna Hephaistos fund.
The European Investment Fund and La France Mutualiste have confirmed their support for Sienna Hephaistos.
In a press release, Marjut Falkstedt, Chief Executive of the EIF, declared: “With backing from the InvestEU fund, we are happy to support this new fund which will ensure that ambitious industrial and tech companies in the field of defence get the non-dilutive financing they need to scale and prosper, achieving real impact in terms of European defence capabilities and our strategic autonomy alike.”
Andrius Kubilius, Commissioner for Defense and Space at the European Commission, also spoke on the subject: “Improving access to finance for defence SMEs and midcaps is a priority for the European Commission as it is key to enhance our defence readiness. Our support to the creation of Sienna Hephaistos Private Investment will expand financing opportunities, in the EU, for European companies developing critical defence technologies throughout their development cycle. This investment will contribute to support innovation, address supply chain bottlenecks and facilitate defence industrial ramp-up.”
Read the full press release: EIF commits EUR 30 million to Sienna Hephaistos Private Investments, the first European private cre…
To celebrate the closing of its fund, Sienna IM organized a roundtable bringing together several prominent figures from the sector. Isabelle Le Bot, CEO of La France Mutualiste and Head of Savings at Groupe Malakoff Humanis, Olivier Mareuse, Head of Asset Management and Savings Funds at Groupe Caisse des Dépôts, Ambroise Fayolle, Vice-President of the EIB, Benoit Laroche de Roussane, Director Defense Industry at the DGA, and Christine Ricouart, SVP systems purchasing and procurement at Dassault Aviation, discussed the European defense industry and concluded that the mobilization of all financial, industrial, private, and public actors is necessary to meet the security challenges Europe is facing.
