EDENEWS Q2 2025 – Financing the BITD: consolidating sovereignty through investment
- Cluster EDEN
- Oct 12
- 3 min read
The President's editorial
“Without solid financing, there is no sovereignty. To you, SMEs, start-ups, and mid-cap companies in the sector: you are not alone. Together, let’s increase the number of financing opportunities and prove that French technological excellence is winning international competition.” Thierry Regond, President of the EDEN Cluster
In a context where the need for sovereignty has never been more pressing, financing the Defense Industrial and Technological Base (BITD) is a major national issue. Companies in the sector, often small, must reconcile innovation, responsiveness, and cash flow. This edition of EDENEWS looks back at the financial levers put in place to support this transition.
Quarterly focus: BITD financing challenges
The Conference of March 20, 2025 at Bercy marked a turning point in the reflection on the mechanisms for financing French defense.
While the structural fragility of SMEs – low equity, post-crisis debt, dependence on a few clients – remains, several concrete initiatives are emerging:
creation of “Defense Industry” and “Defense Innovation” loans by Bpifrance, guaranteed by the State,
relaunch of the Definvest 2 Fund , with investments of up to 15 million euros,
development of corporate ventures by large groups (Thales, Safran, Naval Group, Dassault),
and the rise of Defense Angels , a network of business angels dedicated to dual technologies.
Strategic partnership: EDEN & Defense Angels
The signing of the partnership between EDEN and Defense Angels in January 2025 strengthens access to private financing for SMEs and startups in the defense and security sector.
Objective: to structure a financing continuum from the first rounds of funding to international growth.
This rapprochement is based on several mechanisms:
SIBA Defense Angels , an investment company to strengthen fundraising capabilities;
Defense Partners , supporting mid-sized companies and large groups in technological monitoring and open innovation;
the Dual Boost program , an intensive 8-week course to help startups position themselves in the defense market.
These actions aim to accelerate the transformation of innovative projects into concrete solutions serving national sovereignty.
The Defense Angels funding ecosystem
The Defense Angels network now has more than 110 investors and aims to inject 1.5 million euros in 2025 , with an estimated leverage of ×8.
The creation of Angels Strategic Capital will provide investment tickets between €200,000 and €600,000 , in conjunction with the FnX Ventures , Cybica and Definvest funds.
This unique financial architecture allows for comprehensive support: from seed to Series A, including networking with institutional investors.
The Bpifrance Defense Continuum
Following the government announcements of March 2025, Bpifrance unveiled its Defense continuum , a set of measures adapted to the specificities of the sector:
Diag Cybersécurité Défense , co-financed at 50%, to support compliance with ANSSI and DGA standards;
Defense Innovation Fund , with €400 million, intended for companies with high technological potential;
DEF'FI loan , to support the R&D and industrialization phases;
Defense Accelerator and export insurance systems (article 90 DGA, credit insurance, export pre-financing).
These tools constitute a concrete response to the economic reality of the sector, reconciling sovereignty, innovation and competitiveness.
Discover the full newsletter
Find in this edition:
the complete editorial by Thierry Regond,
the EDEN × Defense Angels partnership,
the presentation of the Dual Boost program,
the BITD financing arrangements by Bpifrance,
and a look back in pictures at the trade fairs and events of the quarter (SOFINS, EURODEF, FEINDEF, etc.).
Download the EDENEWS Q2 2025 newsletter
Download the full version of the newsletter (10 pages, PDF format) to discover the testimonials, financial mechanisms and partnerships at work in the defense sector.
