Balnord closes €70 million first round to back frontier and dual-use tech across the Baltic Sea Region

Balnord, a Luxembourg-based onset financier for the Baltic Sea Area, has actually introduced today that it has actually oversubscribed its EUR70 million fund target and is well on its method to attaining a last close of EUR100 million by mid-2026.

LPs backing the fund consist of the European Mutual fund, PFR Ventures, and European household workplaces, owners, and personal financiers from around the globe. Balnord counts LPs in 3 continents and 12 nations. The majority of prior-fund LPs have actually reinvested in Balnord Fund I; amongst brand-new LPs, numerous are owners of its left profile business.

“ We’re buying the foundation of European industrialisation. We have actually currently spent around EUR13 million in 10 business. The initial 4 of them elevated EUR40 million in succeeding financial investment rounds, producing profits of EUR35 million this year,” commented Marcin P. Kowalik, General Companion at Balnord.

Balnord’s oversubscribed initial close locates it within a 2025 European financing landscape progressively oriented in the direction of commercial strength, dual-use innovation, and regionally secured DeepTech environments. Throughout Europe, numerous funds introduced this year show comparable critical concerns:

• Suma Capital (Barcelona) shut a EUR210 million ClimateTech car to back commercial decarbonisation endeavors.

• Keen Venture Partners (Amsterdam/London) introduced a EUR40 million DefenseTech fund straightened with Europe’s strategic-sovereignty objectives.

• Iron Wolf Capital (Vilnius) revealed a EUR100 million DeepTech fund for early-stage owners throughout the Baltics.

• IDC Ventures (Copenhagen) developed a EUR150 million fund-of-funds buying future-growth industries.

• C4 Ventures (Paris) presented a EUR100 million fund sustaining AI, robotics, and quantum development.

Balnord’s placing– backing frontier and dual-use modern technologies throughout the Baltic Sea Area — straightens very closely with these styles, specifically the Baltic-region DeepTech emphasis seen at Iron Wolf Funding.

Its addition of the EIF as a restricted companion additionally mirrors institutional task sustaining critical industries; especially, the EIF additionally backs Suma Funding’s ClimateTech car.

As EU-Startups just recently observed in its wider testimonial of policy-driven funding circulations, the European VC landscape is moving “from environment to strength,” with brand-new tools strengthening protection, protection, and commercial development concerns (EU-Startups, Oct 2025). Within this context, Balnord’s fund adds to a continental activity routing funding towards Europe’s re-industrialisation and technical sovereignty– locations currently attracting continual financier and public-sector interest.

“ There has actually never ever been a more powerful time for Europe to construct durable and long-lasting technology business. We have actually never ever seen a much more substantial and fluid chance to produce and construct modern technologies that will certainly form the contemporary globe in the coming years,” included Kowalik

Established In 2024 and concentrated mostly on owners from the Baltic Sea Area (Nordics, Baltics, Poland, Germany), Balnord backs business that are laying the structure for Europe’s re-industrialisation in the genuine economic situation throughout industries such as area, medical care, commercial strength, and much more.

According to the company, Europe is going through one of the most substantial wave of industrialisation in years, and European frontier-tech dual-use innovation business are positioned to specify the future generation of victors. It is approximated that EUR1 trillion prepares to be spent every year throughout the continent, addressing one of the most intricate issues and dealing with reindustrialisation– Balnord thinks that the following wave of unicorns will certainly arise in this area.

The brand-new fund will certainly purchase at the very least 22 business and can make substantial follow-on financial investments. First financial investments will certainly vary from EUR500k to EUR3 million, with follow-on financial investments approximately EUR12 million per business.

“ As a group, we have actually been collaborating for 9 years currently, creating a similar team of mission-driven financiers and drivers with the single intent helpful owners with their most difficult difficulties.

” We’re backing durable business owners that are increasing bench on aspiration, intending to construct billion-dollar business throughout the Baltic Sea Area– where we can make a GDP-level influence. We’re not simply buying business– we back owners and assist them construct motions,” included Aleksander Dobrzyniecki, General Companion at Balnord.

The Balnord group consists of General Allies Marcin P. Kowalik and Aleksander Dobrzyniecki, in addition to Operating Allies Jarosław Pilarczyk, Wojciech Drewczyński, Hubert Szczołek, and Gabriele Poteliunaite. Balnord’s group is divided in between Gdansk, Luxembourg, and Berlin.

Balnord has actually additionally developed a creators board to sustain its financial investments, that includes Peter Bialo, founder of DocPlanner, the initial Polish business to be valued over $1 billion, and Davis Siksnans, previous creator & chief executive officer of Printful, the initial Latvian unicorn, and currently chief executive officer of Mapon, a leading B2B telematics business.

“ This fund will certainly assist drive development in crucial industries such as protection and area, straight sustaining the EU’s dedication to dealing with pushing difficulties. Purchasing Balnord allows us to more add to the EU’s critical goals, guaranteeing that Europe continues to be at the leading edge of technical development and efficient in satisfying future needs,” stated Marjut Falkstedt, EIF President.

Balnord Fund I has actually currently purchased 10 business, consisting of:

• Astrolight: A space-to-ground laser interaction company that just recently showed an undetected laser web link in between NATO ships mixed-up, guaranteeing interactions when radio is obstructed or refuted (as reported by EU-Startups)

• ATMOS Area Freight: Making it possible for accessibility to microgravity with recyclable reentry pills making use of sophisticated blow up thermal barrier innovation. Atmos is presumably the fastest-moving personal area logistics business in Europe to carry out an orbital return goal.

• VitVio: Leveraging AI, computer system vision, and ambient noticing modern technologies to digitise running spaces in 3D, in real-time, to comprehend medical process.

Various other frontier technology and dual-use financial investments consist of business functioning throughout area, commercial strength, and technology biography.

Sebastian Klaus, Chief Executive Officer of ATMOS Area Freight, stated, “ Collaborating with Balnord seems like having a companion that absolutely obtains it. Their group’s business experience indicates they comprehend the ups and downs of developing a business. They’re not simply financiers– they’re business contractors and fans.“

To day, Balnord has actually co-invested together with leading DeepTech funds, consisting of Growth, Matterwave, Pinnacle Ventures, Seraphim, OTB, Inventure, Voima Ventures, and Bek Ventures (previously Earlybird Digital East).

“ Balnord is currently placing its elevated funding to function, sustaining business owners. Amongst them are the Polish owners of Microamp, a DeepTech job concentrated on 5G connection that formerly participated in NATO’s DIANA accelerator, and SATIM, which has actually just recently developed collaborations with ICEYE and regional weaponries business.

” We’re additionally seeing the fund’s solid dedication to promoting the local DeepTech environment, working out past its financial investment task. I think that owners will absolutely gain from this strategy, and it is just one of the factors we felt great assigning our funding to Balnord Fund I,” claims Rozalia Urbanek, Board Participant of PFR Ventures

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