Balerion Space Ventures is a Dallas-based venture capital firm investing in founders building the infrastructure of space, defense, and deep technology. The firm backs companies developing space systems, national security technology, advanced energy, autonomy, and other critical infrastructure, and has grown its assets under management past $200 million since its founding.
Balerion Space Ventures invests in founders building critical infrastructure across space, national security, advanced energy, autonomy, and capital-intensive deep technology.
The firm is primarily focused on US-based companies, with occasional international exposure. It invests across stages from seed through growth, without a single defined stage focus
Balerion Space Ventures oversubscribed Fund II at $200 million, announced in October 2026.
The fund has backed 15 companies to date, including Valar Atomics, Vast Space, Commonwealth Fusion Systems, Relativity Space, and Erebor, building on the firm's earlier investments in companies such as SpaceX, Anduril Industries, Impulse Space, and Armada AI. Legal counsel for the fund was Latham & Watkins LLP.
Leadership
Balerion Space Ventures was co-founded by General Partners Phil Scully, Daniel Kleinmann, and Daniel Wallman. A.C. Charania, former NASA Chief Technologist, was appointed Managing Director for global operations alongside the Fund II announcement.
The team also includes Beau Spradling (Chief Financial Officer), Emerson Garnett and Aidan Daoussis (Principals), and Aaron Mitchell (Venture Partner).
Investment Strategy
Balerion participates in financings ranging from tens of millions to several hundred million dollars, though the firm has not disclosed a specific check size range for its own commitments.
Phil Scully has described the firm's thesis as investing in the infrastructure that will define the future of economic and national security.
Notable Investments
Notable Exits
Adranos.
Phil Scully, General Partner and Co-Founder
Daniel Kleinmann, General Partner and Co-Founder
d.kleinmann@balerionspace.com
Daniel Wallman, General Partner and Co-Founder,
Aaron Mitchell, Venture Partner
Emerson Garnett, Principal
Aidan Daoussis, Principal
United States
