Investors / Luxembourg / Balnord
Balnord
Venture capital · Luxembourg, Luxembourg · Europe
Balnord is a high-conviction early-stage investor in frontier and dual-use technologies, formerly known as Black Pearls VC. It leads or co-leads pre-seed and seed rounds with initial tickets of €0.5–3M and can invest up to €12M per company in Series A and B follow-ons.
Invests inAI & Machine Learning
In its own wordsdual-usefrontier techspacehealthcareindustrial resiliencedeep tech
Your fit with Balnord
Four questions about your startup
See how your round matches what it backs, point by point.
Or find every investor that fitsBalnord lists 42 checked portfolio companies on its own site and is named in 10 funding rounds, 6 of them as lead. Its most frequent entry is Seed, 70% of the companies with a known first round. Its largest themes are AI & Machine Learning (28%), Healthcare & Biotech (11%) and Fintech (11%). 33% of its companies are based in Poland. It invests most often alongside BADideas.fund, Startup Wise Guys and Y Combinator.
Counts come from funding rounds that name Balnord, complete from mid-2025: earlier rounds appear only when they were reported later. Round amounts and full round histories are on Fundup AI.
Round figures show recent activity, not Balnord's whole history. Rounds on record name 10 companies; its own site lists 42. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.
Entry stage
share of companies by the stage of its first roundShow as a table
| Value | |
|---|---|
| Pre-seed | 0% |
| Seed | 70% |
| Series A | 30% |
| Series B | 0% |
| Growth | 0% |
Activity by year
rounds it joined, last 10 yearsShow as a table
| Total | Rounds it led | |
|---|---|---|
| '17 | 0 | 0 |
| '18 | 0 | 0 |
| '19 | 0 | 0 |
| '20 | 0 | 0 |
| '21 | 0 | 0 |
| '22 | 0 | 0 |
| '23 | 0 | 0 |
| '24 | 0 | 0 |
| '25 | 4 | 2 |
| '26 | 6 | 4 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 78th | 42 companies |
| Recent activity | 89th | 6 rounds in 12 months |
| Early stage | 80th | 70% of entries at pre-seed or seed |
| Evidence | 90th | 19% of companies confirmed by a round |
| Sector focus | 46th | 28% in its largest sector |
| Reach | 97th | 12 countries |
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| AI & Machine Learning | 28% | 18% |
| Healthcare & Biotech | 11% | 15% |
| Fintech | 11% | 12% |
| Industrial & Manufacturing | 7% | 7% |
| Enterprise Software | 7% | 8% |
| Cybersecurity | 5% | 4% |
| Space & Defense | 5% | 3% |
| Education | 5% | 7% |
Invests most often with
firms sharing its portfolio companiesShow as a table
| Share | |
|---|---|
| BADideas.fund | 3 |
| Startup Wise Guys | 3 |
| Y Combinator | 3 |
| 365.fintech | 2 |
| APEX Ventures | 2 |
| Coinvest Capital | 2 |
| DEPO Ventures | 2 |
| High-Tech Gründerfonds | 2 |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers4095%
- No longer answers00%
- Points to another company25%
- Parked or sold domain00%
A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.
Co-investor network
who it backs companies with, and who they back togetherCompare Balnord head to head
portfolio size, rounds, entry stages, themes and the companies both backThree or more firms at once: portfolio overlap.
Recent portfolio activity
when companies last raised with Balnord| Date | Company | Stage |
|---|---|---|
| 10 Nov 2026 | Series A Led | |
| 1 Oct 2026 | Series A | |
| 1 Sept 2026 | Seed | |
| 22 Apr 2026 | Series A Led | |
| 14 Apr 2026 | Seed Led | |
| 12 Jan 2026 | Seed Led | |
| 13 Nov 2025 | Seed | |
| 23 Oct 2025 | Seed |
Round details for Balnord
Amounts, full round histories and every co-investor in Balnord's rounds are on Fundup AI. VCinfo covers investors and their portfolios.
Portfolio
42 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| Altalogy provides design services for venture firms, fintech, and tech startups | FintechMedia & Entertainment | Portfolio page | ||
| Assessio helps HR teams make faster, fairer, and more confident people decisions across the entire employee lifecycle. | Human ResourcesAI & Machine Learning | Portfolio page | ||
| Astrolight develops laser communication systems for space and defense applications | Space & DefenseAI & Machine Learning | May 2025Seed | Page + round | |
| ATMOS Space Cargo builds reusable spacecraft and return logistics for spaceflight | Space & Defense | Apr 2026Series A | Page + round | |
| Autenti provides a platform for sending and signing documents online | FintechCybersecurity | Portfolio page | ||
| Avenue Biosciences develops technology for protein engineering and optimization, particularly for enhancing production yield and quality of biologic products. | Healthcare & Biotech | Jan 2026Seed | Page + round | |
| Deep-image.ai provides AI-powered image enhancement and generation tools. | AI & Machine LearningMedia & Entertainment | Portfolio page | ||
| Deep.BI provides support and development services for open-source Apache Druid and other big data technologies | AI & Machine LearningEnterprise Software | Portfolio page | ||
| eAgronom enables companies to achieve sustainability goals while supporting farmers in generating revenue and improving soil quality | AI & Machine LearningAI & Machine Learning | Portfolio page | ||
| Enso provides self-service data preparation and blending tools for data teams. | FintechAI & Machine Learning | Portfolio page | ||
| The company provides online English language courses with human teachers and AI support. | Education | Portfolio page | ||
AI & Machine LearningAI & Machine Learning | Portfolio page | |||
| IamIP provides a patent platform that monitors and analyzes patents filed worldwide, offering actionable insights and tools for patent review and management. | AI & Machine LearningLegal & Compliance | Portfolio page | ||
| Infinite Orbits builds commercial services to protect, optimize, and extend the life of satellites in orbit. | Space & Defense | Portfolio page | ||
| The company provides IT courses and training for individuals and companies. | EducationEducation | Portfolio page | ||
| INLEAP Photonics develops ultra-fast, high-precision laser system technology for secure drone defence and high-performance industrial applications. | AI & Machine LearningAI & Machine Learning | Sept 2026Seed | Page + round | |
| Insly provides software solutions for the insurance industry, including product building, distribution, accounting, and claims management. | FintechHealthcare & Biotech | Portfolio page | ||
| Microamp delivers end-to-end 5G mmWave solutions, offering unparalleled performance, flexibility and economics. | Healthcare & BiotechIndustrial & Manufacturing | Sept 2025Seed | Page + round | |
| Nanoxo manufactures zinc oxide quantum dots and other nanoparticles for various applications | Industrial & ManufacturingHealthcare & Biotech | Portfolio page | ||
| Ondato provides software for secure customer onboarding, including identity verification, age verification, and anti-money laundering compliance solutions. | FintechCybersecurity | Portfolio page |
About this data
site last read 5 Nov 2026- Site
- balnord.vc
- Last read
- 5 Nov 2026
- Watching since
- 6 Nov 2026
- Rounds since
- 22 May 2025
- Companies checked
- 42
Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.
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