Today, Danish defencetech VCs Final Frontier and Myriad join forces to create a combined platform and move forward under one brand with a targeted €100 million fund.
Europe is rearming. For the first time in a generation, the continent is spending at scale on National Security. Ukraine is proving every day that speed, software and small teams decide outcomes on the modern battlefield. The technologies that will defend Europe over the next thirty years are being invented now. Private investment capital is essential.
This led to the founding of Final Frontier in late 2024 and Myriad in 2025: the first funds in Denmark and among very few in the New Nordic region to focus on investing in early-stage defencetech.
Former Seed Capital GP Niels Vejrup Carlsen founded the original Final Frontier. The €4.5 million first fund was closed in May 2025, supported by investors and industry leaders including former NATO Secretary General Anders Fogh Rasmussen.
Myriad was a €2 million early-stage New Nordic defence fund, launched in August 2025 by operators who don't theorise about scaling companies - they've done it. Including Alexander Aghassipour, who took Zendesk from startup to a $1.7B IPO and a $10.2B acquisition; and Klaus Nyengaard, who grew Just Eat from 35 employees to a category-defining IPO. Myriad brings that same operator discipline to Europe's defence sector.
In May 2026, the firms compared notes over a cup of coffee.
According to an announcement by the firm:
“The first year of operations and our combined portfolio of 15 companies show that the region does not lack talent, technology or ambition.
However, there is still an urgent need for more capital in early-stage defence tech, and most investors are too small.”
So, they started talking about collaborating and creating one stronger platform with the firepower; the network and the value-add a specialist fund needs to help companies navigate the defence tech playbook.
Under the name Final Frontier, the platform combines Myriad's network of world-class Nordic founders and operators with Final Frontier's defence DNA at the geopolitical level, in the armed forces and across the defence industry.
It aims to support founders at every stage, from early product development and access to specialist expertise to organisational scaling and navigating the sector’s complex procurement cycles.
The fund is targeting €100 million for Final Frontier Fund II, which will back pre-seed and seed-stage defence tech startups across the New Nordics and Ukraine, with a first close expected by the end of the year.
According to the firm:
“We will back the technologies shaping our future defence industry and the founders capable of building category-defining companies.
We aim to deliver exceptional returns while leading the New Nordic defence ecosystem. Our first year shows that we're well on our way. Now, we grow stronger together.
Europe doesn't need more spectators; it needs capital building our defence. If you're an institutional investor or family office ready to do that, talk to us.”
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