Archangel is an early-stage venture fund investing in the next generation of European defence technology. It is described as the world's only Next-Gen Defence Tech fund, focused on defence-first and defence-only startups across the Baltics, Nordics, and the United Kingdom.
Deal activity increased 100% year-over-year (2 deals in the last 12 months). Their most common stage is seed (67% of deals). Average disclosed round size is $7.2M (across 13 rounds with reported amounts).
Portfolio
14
Fund Size
$56M
Top Stage
Seed
Last 12 Mo
1
Team
BC
Banjo Castillo
General Partner
DO
David Ovens
Joint Managing Director
EB
Erich Beyer
Founder
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
15 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Heidi Health | Series B | $65M | Oct 2025 |
 OneMRI | Seed | — | Aug 2025 |
| BBuild Club | Pre-Seed | $1.8M | Oct 2024 |
| BBuild Club | Pre-Seed | $1.8M | Jan 2024 |
 SPEC Toolbox | Seed | $1.5M | Jan 2023 |
 Earlywork | Seed | $1.5M | Jan 2023 |
 KeyOps | Seed | $4M | Dec 2022 |
 Pearler | Seed | $7.8M | Jul 2022 |
 Wavy | Seed | — | Jan 2022 |
 Relevance AI | Seed | $3M | Dec 2021 |
| TTriplemint | Seed | $1.6M | Apr 2015 |
 Ranku | Seed | $500K | Jan 2014 |
 mercu | Seed | $2.4M | — |
 MagicBrief | Pre-Seed | $2M | — |
 Carbonhound | Pre-Seed | $1.3M | — |
Top Co-Investors
Blackbird4 shared
TEN133 shared
AirTree2 shared
Possible Ventures1 shared
Headline1 shared
Point72 Private Investments1 shared
Galileo Ventures1 shared
Insight Partners1 shared
Winklevoss Capital Management1 shared
Remarkable Ventures1 shared
Kima Ventures1 shared
MaRS IAF1 shared
Laconia1 shared
Backbone Angels1 shared
Y Combinator1 shared
Two Small Fish Ventures1 shared
Garage Capital1 shared
XA Network1 shared
500 Global1 shared
Peak XV Partners1 shared
Last updated: 8 September 2026