Strnad's defence fund raises $170M, beats first target
What's the deal? Czech industrialist Jaroslav Strnad's fund CE Industries & Aerospace Sicav raised more than 3.6 billion Czech koruna (about $170 million) from investors during its first subscription period. The money will back activities across industry, aerospace, and defence, according to Strnad's company CE IndustriesDealroom has a profile for this one. Try Dealroom →.
Where the money goes: Funds will support the development of CE Industries and Helicopter Alliance, along with their operations in the industrial, aviation, and defence sectors in the Czech Republic and other European countries. Strnad retains a majority stake and remains the fund's main investor.
Why now? The first phase already beat expectations. In March, Strnad told Forbes he initially aimed to raise €100 million (about 2.4 billion koruna); by year-end, Bloomberg reports the total could reach €200 million, or roughly 4.9 billion koruna.
What's the endgame? CE Industries & Aerospace Sicav was set up in June 2026 as a qualified investors' fund. Strnad has said he plans to place up to half of his companies in it — his current business activities span 34 companies, including a firm focused on refurbishing Black Hawk helicopters, per Bloomberg.
The fund now continues in a standard open regime, with investors able to order shares on a rolling basis. It is managed by TILLER investiční společnost together with BDO Fund Administration.
What they're saying: "The result of the first subscription period represents a very good entry into the fund's further operation," said Vít Bozděch, commercial director at TILLER (translated from Czech). "We are only at the beginning," he added, noting plans to court more qualified investors and expand distribution partnerships.
The signal: Strnad's raise reflects rising investor appetite for European defence and aerospace assets, as private capital increasingly flows into a sector once dominated by state budgets.
Read more: e15.cz
Image credit: U.S. Department of Defense Current Photos
