Norwegian investor launches dual defence initiatives in Ukraine and at home

Johan H. Andresen, a leading figure in Norway’s business community, is driving two separate defence-related projects. The first is Gardar, a venture capital fund that is nearing a capital target of about one billion kroner and plans to acquire stakes in Ukrainian defence startups, with investors such as the Witzøe family, Christian Ringnes and Carl Erik Krefting. Gardar’s goals are to help Ukraine win the war, provide investors with a secure return and forge stronger ties between Norway and Ukraine.

The second initiative, the Ressursalliansen, is a joint effort by Ferd, Aars, IKM Gruppen and Thon Gruppen to map Norwegian companies, personnel and equipment that could be mobilised in a national crisis, ranging from vehicles to medical staff. Andresen argues that Europe must act quickly, noting that the war in Ukraine has dramatically accelerated the growth of its defence industry, now home to over 500 drone producers and 200 electronic-warfare firms. He stresses that the lack of early-stage capital is a bottleneck and that Norwegian involvement could benefit its own defence capabilities in the long term.