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Balnord Launches €70M Fund to Boost Baltic Startups

11/8/2025

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Summary

Story summary

Balnord, a venture capital firm in Gdansk, launched its first fund, Balnord Fund I, with €70 million to invest in frontier and dual-use technology startups in the Baltic Sea region.
The fund is oversubscribed and projected to reach €100 million by mid-2026.
Balnord has invested €13 million in ten startups, which generated €35 million in revenues this year.
The firm aims to support at least 22 startups with investments between €500,000 and €12 million, promoting Europe’s technological autonomy.

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Story summary

Balnord, a venture capital firm in Gdansk, launched its first fund, Balnord Fund I, with €70 million to invest in frontier and dual-use technology startups in the Baltic Sea region.
The fund is oversubscribed and projected to reach €100 million by mid-2026.
Balnord has invested €13 million in ten startups, which generated €35 million in revenues this year.
The firm aims to support at least 22 startups with investments between €500,000 and €12 million, promoting Europe’s technological autonomy.