Balerion Space Ventures Fund II

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 in space, defense, or advanced manufacturing

space & defense

advanced manufacturing

deep tech

dual-use

cislunar/LEO

national security infrastructure

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/...

Contrarian Signals

Betting on Africa space ecosystem earlyexternal

Lunar economy as commercial opportunity nowexternal

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

Founder Don'ts

Pure software with no hardware component

No defense/space relevance

Avoid if pre-thesis fit in space/defense

Key GPs & Partners

Phil Scully

Partner

space & defense focusmanufacturing thesisoperator-minded

Daniel Kleinman

Partner

space investordeep tech

A.C. Charania

Advisor

space industry veterancommercial space

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Fund Overview

Fund Size$200M

Saves0

Website

Key People

Balerion Space Ventures

Phil ScullyPartner

Daniel KleinmanPartner

A.C. CharaniaAdvisor