Balerion Space Ventures Oversubscribes $200M Fund II

The accomplishment marks a major milestone for Balerion Space Ventures, with the oversubscribed $200M fund positioning Balerion among the largest dedicated space and defense tech firms in Texas.

DALLAS, Oct. 8, 2026 /PRNewswire/ -- Balerion Space Ventures, a venture capital firm investing in the infrastructure shaping the future of space, defense, and deep technology, oversubscribed its $200M Fund II. The milestone reflects continued momentum behind Balerion's investment strategy, with Latham & Watkins LLP serving as legal counsel in connection with the fundraise.

"We founded Balerion around a simple belief: The technologies that will define the future of economic and national security are being built today," said Phil Scully, one of three Co-Founders and General Partners at Balerion. "Investing in the infrastructure of the future is no longer a question of when, but how."

Fund II has invested in 15 companies spanning across space systems, national security, advanced energy, autonomy, capital infrastructure, and other critical technologies. These include Valar Atomics, Vast Space, Commonwealth Fusion Systems, Relativity Space, and Erebor—which build on prior investments in companies such as SpaceX, Anduril Industries, Impulse Space, and Armada AI.

"We're proud of the portfolio we've built and the founders we've had the opportunity to support," said Dan Wallman, Co-Founder and General Partner.

In other news, Balerion has appointed A.C. Charania, former NASA Chief Technologist, as Managing Director to focus on global operations. Additionally, the firm will bring together investors in Dallas for its Annual General Meeting in early November to share updates on the portfolio and opportunities ahead.

About Balerion Space Ventures

Balerion Space Ventures is a multi-disciplinary team with deep expertise across aerospace engineering, venture capital, capital markets, and institutional investing. The team has been investing together in the emerging space economy for nearly five years.

SOURCE Balerion Space Ventures