ETNA is an entrepreneurial partner for companies building European resilience
Get in contact with us at contact@etna.capital
Europe’s defence specialist
ETNA is a private equity firm dedicated to strengthening European resilience by investing in companies within defence, cyber security, and the protection of critical infrastructure. Our investment mandate spans all of Europe, with full scope within our target industries.
We bring leading industry competencies and network coupled with an internal value-creation team to support and grow the companies we invest in, with the aim of building world-class businesses.
Investing NATO country capital
We focus on majority investments while maintaining flexibility for minority stakes. Our primary interest is in established, profitable companies, complemented by selective investments in proven scale-ups. We prefer to partner with existing owners and management teams to support long-term growth.
We care deeply about who we partner with and are proudly backed by some of Europe’s leading investors who share our mission to build a stronger, more resilient Europe. This strategic investor base supports our position as a credible partner in industries where ownership matters.
ETNA team
ETNA was founded by Frederik Oliver Busch, Florian Funk and Wolff van Sintern in December 2025. The firm is currently building out its investment and value creation team – reach out at contact@etna.capital if you are interest in joining ETNA.
Frederik Oliver BuschPartner & co-founder
Frederik brings 13 years of private equity experience and was the first employee at a first-time fund, where he played a central role in building the firm from the ground up. His investment work spans a broad range of B2B industries, with a particular focus on partnership-investments alongside founders and owner-managers.
Florian FunkPartner & co-founder
Florian spent more than 15 years with EQT, where he served as Partner from 2017 to 2023 during a period in which the firm scaled significantly and completed its IPO. He supported EQT’s global expansion by building new teams in Hong Kong and New York, and was leading the DACH and Benelux mid-market investment team. He has deep expertise in technology and cybersecurity investments.
Wolff Van SinternPartner & co-founder
Wolff spent 22 years with McKinsey, where he was a Senior Partner and served as Global Co-Head of Defence from 2015 to 2020. He has extensive experience across all segments of the defence industry, advising governments, defence primes and other companies across the value chain. Before co-founding ETNA, he led an electronics business unit of a major European defence prime.