"Balnord, a new early-stage venture capital firm founded by the team behind Black Pearls VC, has announced the launch of Balnord Fund I, an oversubscribed €70 million vehicle dedicated to investing in frontier and dual-use technology startups across the Baltic Sea region. The fund, which is already on track to reach a final close of €100 million by mid-2026, aims to accelerate Europe's technological reindustrialisation - backing companies building critical infrastructure and innovation in space, healthcare, industrial resilience, and defence-related technologies."
"The firm has already deployed €13 million across 10 companies, with its first four portfolio firms raising €40 million in follow-on rounds and generating €35 million in revenues this year. Its focus spans Nordics, the Baltics, Poland, and Germany, investing initial cheques between €500,000 and €3 million with the potential for follow-on investments of up to €12 million per company."
""We're backing resilient entrepreneurs who are raising the bar on ambition," said Aleksander Dobrzyniecki, General Partner at Balnord. "Our goal is to help founders build billion-euro companies that can make a GDP-level impact across the Baltic Sea region. We don't just invest in companies - we back founders and help them build movements.""
Balnord launched Balnord Fund I, an oversubscribed €70 million vehicle focused on frontier and dual-use technology startups across the Baltic Sea region and targeting a final close of €100 million by mid-2026. The fund targets companies building critical infrastructure and innovation in space, healthcare, industrial resilience, and defence-related technologies to accelerate European technological reindustrialisation and autonomy amid supply chain fragmentation and geopolitical uncertainty. Balnord has deployed €13 million across 10 companies; the first four portfolio firms raised €40 million in follow-on rounds and generated €35 million of revenues this year. Initial cheques range €500,000–€3 million with follow-ons up to €12 million.
Read at Business Matters
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