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Balerion Space Ventures Fund II

United States
Seed
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About Balerion Space Ventures Fund II

Dallas-based VC firm focused on space, defense, and deep technology. Nearing final close of $200M Fund II with 13 portfolio companies already deployed. Founded in 2022 by Phil Scully, Daniel Kleinmann, and Daniel Wallman. Portfolio includes Valar Atomics, Northwood Space, and Apex Space.

Investment Focus

Location / RegionUnited States
Funding StageSeed
Industry Focus
Deep Tech
Defense
Space

Investor Signals Profile

active

Sweet Spot

Deep tech founders solving manufacturing bottlenecks in space, defense

space & defense
advanced manufacturing
deep tech
dual-use
cislunar/LEO
national security infrastructure
AI in aerospace
in-space manufacturing
Africa space ecosystem
nuclear tech
rare earth
lunar economy
robotics & additive

Bullish Signals

Fund II closing at $200M — 2x larger than most dedicated space/defense VC peers; signals strong institutional LP convictionfundmomentum.vc/blog/...
Portfolio includes Valar Atomics, Northwood Space, Apex Space — directly aligned with Pentagon priorities on energy independence, space resilience, and domestic manufacturingfundmomentum.vc/blog/...
Hired CFO Beau Spradling from Canyon Partners ($25B+ AUM) — signals Fund III already in planning and firm institutionalizing fastfundmomentum.vc/blog/...
Led Vast Space $500M round for Haven LEO stations, post-ISS microgravity research@balerionspace Twitter
Active in Valar Atomics nuclear reactor ops; Lunar Outpost NASA lunar vehicle selection@balerionspace Twitter
AI in aerospace/defense: 30% CAGR through 2034 — fund actively mapping leaders@balerionspace Twitter
Advanced manufacturing landscape: 90+ companies in robotics, additive, composites mapped@balerionspace Twitter
2026 landmark year: Artemis II, Starship, Dream Chaser, commercial space station launches@balerionspace Twitter
Varda Space in-orbit manufacturing validated; toured by fund lead@balerionspace Twitter
Vulcan Elements backed: $1.4B gov partnership + $620M Pentagon loan for rare-earth magnets@balerionspace Twitter
Valar Atomics achieved cold criticality, flew grid-independent nuclear reactor@balerionspace Twitter

Contrarian Signals

Betting on Africa space ecosystem early — Kenya, Nigeria, Egypt emerging@balerionspace Twitter
Lunar economy as commercial construction site, not speculative play@balerionspace Twitter
In-space manufacturing as backbone, not edge case — full-stack production focus@balerionspace Twitter

Founder Do's

Build in space, defense, or dual-use hardware
Have manufacturing or production angle
Target government + commercial markets
Show tech readiness / milestone traction
Operate in AI, nuclear, rare earth, or robotics
Focus on manufacturing as bottleneck solver
Target LEO, cislunar, in-space ops
Solve actual orbit/reentry challenges

Founder Don'ts

Pure software with no hardware component
No defense/space relevance
Avoid if pre-thesis fit in space/defense

Key GPs & Partners

PS
Phil Scully
Partner
space & defense focusmanufacturing bottleneck advocateoperator-minded
DK
Daniel Kleinman
Partner
space investordeep techLEO/cislunar
AC
A.C. Charania
Advisor
space industry veterancommercial space opsVast Space board member

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Fund Overview

Fund Size$200M
Saves0
Website
LinkedIn

Key People

Balerion Space Ventures

Phil ScullyPartner
Daniel KleinmanPartner
A.C. CharaniaAdvisor

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