Balnord launches Fund I with €70 million in commitments, oversubscribed with a target final close of €100 million by mid-2026 to back frontier and dual-use tech startups across the Baltic Sea region.

A Founders Board featuring Peter Bialo and Davis Siksnans will guide portfolio companies, blending DocPlanner and Printful/Mapon leadership experience.

The fund’s strategy mirrors a broader European shift toward resilience, security, and industrial innovation in funding and portfolio design.

Early portfolio highlights include Astrolight, ATMOS Space Cargo, and VitVio, illustrating focus areas like laser communications, reusable space-cargo capsules, and AI-enabled surgical workflow visualization.

Commitments come from institutional and private LPs across three continents and 12 countries, with notable participation from the EIF and PFR Ventures and many LPs being founders of exited portfolio companies.

The investor roster includes the EIF, PFR Ventures, and other European family offices and private investors, with several LPs being founders from exited portfolio companies.

Initial portfolio spans multiple countries—ATMOS Space Cargo (Germany), Vitvio (Poland), Astrolight (Lithuania), with Microamp and SATIM (Poland)—covering space logistics, medtech, laser comms for secure networks, and defence/5G alignment.

Balnord’s lineup emphasizes space logistics, real-time surgical data insights, and jam-resistant laser communications for secure connections, exemplified by ATMOS Space Cargo, Vitvio, and Astrolight.

EIF Chief Executive Marjut Falkstedt endorses the fund, underscoring alignment with EU strategic objectives in defence, space, and advanced technologies.

Seven of Balnord’s 10 portfolio companies have achieved public status, including ATMOS Space Cargo, Vitvio, Astrolight, Microamp, Port.app, and Satim.

The fund’s LP base spans Europe, featuring the EIF, PFR Ventures, and a global mix of family offices, founders, and private investors across 12 countries and three continents.