European venture capital fund

Balnord Fund I

Balnord Fund I is a Gdansk-based venture capital fund managed by Balnord. €70m reported at first close (source published November 2025).

Debut fund for dual-use and frontier tech in space, health and industrial resilience around the Baltic Sea.

Status

First Close

Reported amount

€70m

Manager

Balnord

Headquarters

Gdansk, Luxembourg

Stages

Seed, Series A

Sectors

Defence & Security, Deep Tech, Health & Bio

Investment geography

Baltic Sea region

Source published

November 2025

Source

Read the original announcement

Website

balnord.vc

Amounts come from the linked public source. A first close is not the final fund size, and a reported close does not confirm that the fund is investing now. Headquarters describe where the manager is based, not where it invests.