Balerion Space Ventures is a Dallas-based venture capital firm investing in founders building the technologies that secure freedom and define the new space frontier, focusing on launch, Earth observation, propulsion, and dual-use defense technologies.
45% of their portfolio is in Defense & Space. Deal activity decreased year-over-year (2 deals in the last 12 months vs 4 prior). Average disclosed round size is $75.1M (across 16 rounds with reported amounts).
Portfolio
16
Fund Size
$200M
Top Stage
Series B
Last 12 Mo
2
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
22 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Dawn Aerospace | Series B | $25M | Jun 2026 |
 Machina Labs | Series C | — | Feb 2026 |
 Impulse Space | Series D | $150M | Jan 2026 |
 Magrathea | Series A | $24M | Jan 2026 |
 Zeno Power | Series B | — | May 2025 |
 ZENO POWER SYSTEMS | Series B | — | May 2025 |
 X-Bow | Series B | $105M | May 2025 |
 Space Kinetic | Seed | $12M | Jan 2025 |
| Impulse Space | Series C | $150M | Oct 2024 |
 Starpath Robotics | Seed | $12M | Aug 2024 |
| X-Bow | Series B | $70M | Jul 2024 |
| X-Bow | Unknown | — | Nov 2023 |
 SkyFi | Seed | $7M | May 2023 |
 VAST | Growth | — | — |
 Samara Aerospace | Seed | $10M | — |
 Kinetic | Seed | $12M | — |
| Impulse Space | Series B | $150M | — |
| SStarpath Robotics | Seed | $12M | — |
 Kinetic | Seed | $12M | — |
 Impulse | Series B | $150M | — |
| Impulse | Growth | — | — |
| Impulse | Series C | $300M | — |
Top Co-Investors
Airbus Ventures6 shared
DCVC6 shared
Tamarack Global6 shared
Lux Capital6 shared
Trousdale Ventures6 shared
Founders Fund6 shared
Alumni Ventures4 shared
137 Ventures4 shared
Overmatch Ventures4 shared
Lockheed Martin Ventures4 shared
Elysium Venture Capital3 shared
Crosslink Capital3 shared
Razor's Edge Ventures3 shared
DFJ Growth3 shared
Gaingels3 shared
Valor Equity Partners3 shared
Techstars3 shared
Industrious Ventures3 shared
SpringTide2 shared
XTX Markets2 shared
Last updated: 7 October 2026