Fund profile / United States

Balerion Space Ventures Fund II

Geography: United States
Stage: Seed
Fund size: $200M
Focus: Deep Tech, Defense and Space
Signals: Published

N°01 / About

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.

N°02 / Thesis

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

28 signals on Balerion Space Ventures Fund II

11 bullish · 3 contrarian · 8 pitch do's · 3 don'ts · 3 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size$200M

Saves0

Website

People

Key People

Balerion Space Ventures

Phil ScullyPartner

Daniel KleinmanPartner

A.C. CharaniaAdvisor

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