Venture capital firm Presto Ventures has teamed up with Michal Strnad's industrial and technology conglomerate Czechoslovak Group (CSG) to launch an investment fund called Presto Tech Horizons, which plans to invest up to €150m in innovative defence and security companies.

Presto Tech Horizons aims to support dozens of the most promising technology projects from NATO and allied countries. The fund focuses on companies developing dual-use solutions that serve both civilian and security purposes. Investments will focus on technologies that enhance the security and privacy of individuals, as well as the security of businesses, institutions and states.

The fund will cover a wide range of sectors, including artificial intelligence, cybersecurity, automation, robotics, logistics, defence, aerospace, mobility, energy, healthcare, advanced computing and critical infrastructure management and protection systems. This includes applications including radar, ground and airborne drones, lasers and sophisticated sensors.