Porsche Billionaire Owners Eye Fund to Tap Arms Boom

Porsche AG and Volkswagen AG’s owners are setting up a fund to make defense-industry investments, hoping to ride a surge in European military spending.

Porsche Automobil Holding SE, the holding company of the Porsche-Piëch billionaire owner family, said Wednesday it’s forming a platform with partners it didn’t name to invest in defense startups. The company is dropping a previous requirement that targets need to have not just military but also civilian applications.