Porsche, Deutsche Telekom in Talks to Anchor €500 Million Defense Fund

Porsche Automobil Holding SE and Deutsche Telekom AG are in talks to anchor a new venture capital fund focused on European defense technology companies that is seeking to raise €500 million ($586 million).

The new fund will be run by DTCP, a Hamburg-based investment firm that was a Deutsche Telekom unit until it was spun off a decade ago, according to people familiar with the plans who asked not to be identified because the plans are private. The size and composition of the fund could still change, they said.