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One of Europe’s most prominent venture capitalists has warned that the continent is dangerously overdependent on SpaceX for both defense and space infrastructure, according to the Financial Times. Bernard Liautaud, managing partner at Balderton Capital, said European governments are too tied to the United States when it comes to satellite launches and communications. He argued that “a growing part of military supremacy will be fought in space,” but right now Europe is at a disadvantage. “We need to be more self-sufficient,” Bernard said, adding that reliance on Elon Musk’s company poses “a huge risk.” Bernard’s comments come as defense-related tech funding in Europe has surged. Following Russia’s invasion of Ukraine, NATO countries increased their defense budgets, and that wave of money helped create dozens of new start-ups. Many of these firms are developing drones, battlefield software, and advanced defense tools. But Bernard stressed that none of this solves Europe’s weak position in space. He pointed to the dominance of SpaceX as proof of Europe’s vulnerability. Balderton directs money into European defense start-ups Balderton Capital, originally founded 25 years ago as an offshoot of U.S. venture firm Benchmark before going fully independent in 2007, has long invested in European technology. It has backed more than 250 start-ups, including Revolut, Wayve, and Dream Games. In recent years the firm has started channeling money into what it calls “sovereign” bets, projects designed to boost Europe’s independence. Those include Proxima Fusion, a nuclear fusion company, and Quantum Systems, a drone manufacturer. Last year Balderton co-led a $160 million round for The Exploration Company, a Franco-German start-up.That investment was done with Plural, another venture group. The Exploration Company is working on several projects: a capsule that can transport cargo to the International Space Station, a rocket, and a lunar lander. Bernard pointed to this deal…

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Filed under: News - @ October 6, 2025 7:25 am