Balnord is a European venture capital fund focused on dual-use and frontier technology companies in the Baltic Sea and Northern Europe region. Founded with offices in Gdańsk, Berlin, and Luxembourg, the firm takes a high-conviction approach, investing in fewer companies to provide more capital, focus, and time to each portfolio company. Balnord leads or co-leads pre-seed and seed rounds with ticket sizes of €0.5–3M and can invest up to €12M per company through follow-on rounds. The firm is operator-led, with partners bringing hands-on company-building experience and deep technical expertise across space, healthcare, and supply chain sectors. Balnord is active in key European dual-use programs including NATO DIANA and Poland's IDA Bootcamp, providing portfolio companies with direct access to buyers, pilots, and policy networks. The fund authored Europe's definitive guide to dual-use investing—a 203-page handbook with 36 expert contributors launched at the Warsaw Security Forum. Portfolio companies include Atmos Space Cargo, VitVio, Satim, Astrolight, Port.app, and Microamp Solutions.

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