Sisyphus Ventures €20m fund backing defence founders: Louise Boucher, Founder and Managing Partner. episode artwork

EPISODE · Mar 3, 2026 · 23 MIN

Sisyphus Ventures €20m fund backing defence founders: Louise Boucher, Founder and Managing Partner.

from Scaling Europe · host Sebastian Johnson

A €20m fund is now backing European founders building autonomous defence systems across air, land and sea.I spoke with Louise Boucher, Founder and Managing Partner at Sisyphus Ventures, about how startups are securing government contracts within their first 12 to 18 months and why she sees the opportunity to build multi-billion-euro defence companies in Europe over the coming years.The Scaling Europe show is presented by Deel - check them out here:https://get.deel.com/ruynb7o4lfjkSponsors:SurrealDB: The multi-model database for AI agents. Check them out here: https://surrealdb.com/Omni: The AI analytics platform trusted by fast-growing companies like Perplexity, Synthesia, and dbt Labs. Check them out here: https://omni.co/Venture Comet: The platform that gives startups and scale-ups real-time equity tracking, daily business insights and automated management information. Check them out here: https://venturecomet.com/Timestamps:0:00 - Introduction to Scaling Europe show0:25 - Overview of Sisyphus Venture fund1:01 - Importance of technological warfare2:01 - Notable investments in defense sector6:00 - Reluctance to invest in aggressive defense7:14 - Focus on military use for startups9:02 - Changing perceptions on defense investments10:01 - Market heating signals in defense tech11:46 - Geographical hubs in European defense12:40 - Importance of diverse founder backgrounds14:22 - Balancing urgency and independence in defense16:12 - Investing locally versus buying US tech17:24 - Need for more capital in defense18:03 - Upcoming IPOs in the defense sector19:00 - Financing R&D through government contracts21:00 - Strengths and weaknesses of European defense

A €20m fund is now backing European founders building autonomous defence systems across air, land and sea.I spoke with Louise Boucher, Founder and Managing Partner at Sisyphus Ventures, about how startups are securing government contracts within their first 12 to 18 months and why she sees the opportunity to build multi-billion-euro defence companies in Europe over the coming years.The Scaling Europe show is presented by Deel - check them out here:https://get.deel.com/ruynb7o4lfjkSponsors:SurrealDB: The multi-model database for AI agents. Check them out here: https://surrealdb.com/Omni: The AI analytics platform trusted by fast-growing companies like Perplexity, Synthesia, and dbt Labs. Check them out here: https://omni.co/Venture Comet: The platform that gives startups and scale-ups real-time equity tracking, daily business insights and automated management information. Check them out here: https://venturecomet.com/Timestamps:0:00 - Introduction to Scaling Europe show0:25 - Overview of Sisyphus Venture fund1:01 - Importance of technological warfare2:01 - Notable investments in defense sector6:00 - Reluctance to invest in aggressive defense7:14 - Focus on military use for startups9:02 - Changing perceptions on defense investments10:01 - Market heating signals in defense tech11:46 - Geographical hubs in European defense12:40 - Importance of diverse founder backgrounds14:22 - Balancing urgency and independence in defense16:12 - Investing locally versus buying US tech17:24 - Need for more capital in defense18:03 - Upcoming IPOs in the defense sector19:00 - Financing R&D through government contracts21:00 - Strengths and weaknesses of European defense

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Sisyphus Ventures €20m fund backing defence founders: Louise Boucher, Founder and Managing Partner.

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A €20m fund is now backing European founders building autonomous defence systems across air, land and sea.I spoke with Louise Boucher, Founder and Managing Partner at Sisyphus Ventures, about how startups are securing government contracts within...

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