Balnord Fund I raised €70M to boost frontier tech and dual-use startups across the Baltic Sea region
Balnord, a Luxembourg-based early stage investor for the Baltic Sea Region, has announced it has exceeded its €70 million fund target and is well on its way to achieving a final close of €100 million by mid-2026, EU-Startups reports.
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The new fund plans to back at least 22 companies, with initial investments ranging from €500,000 to €3 million and the capacity to provide follow-on funding of up to €12 million per company.
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Its focus also extends to frontier and dual-use technologies, including innovations in space, industrial resilience, and tech bio.
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LPs backing the fund include the European Investment Fund, PFR Ventures, and European family offices, founders, and private investors from around the world. Balnord counts LPs in three continents and 12 countries.
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Most prior-fund LPs have reinvested in Balnord Fund I; among new LPs, many are founders of its exited portfolio companies.
“We’re backing resilient entrepreneurs who are raising the bar on ambition, aiming to build billion-dollar companies across the Baltic Sea Region – where we can make a GDP-level impact. We’re not just investing in companies – we back founders and help them build movements,” added Aleksander Dobrzyniecki, General Partner at Balnord.
Balnord Fund I have already invested in 10 companies, including Lithuanian spacetech Astrolight, Polish deeptech startup Microamp, Polish-founded startup VitVio, and Polish SATIM.
Read more: United Founders launches €80M pan-European fund to back AI and deeptech startups
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https://en.ain.ua/2025/11/07/balnord-fund-i-raised-eur70m/