Danish funds Myriad Defence and Final Frontier merge to invest €100m in Nordic and Ukrainian startups

Danish defence tech venture funds Final Frontier and Myriad Defence are merging into a single brand to launch the €100 million Final Frontier Fund II. The newly combined fund will focus on investing in defence technology startups at the pre-seed and seed stages.

The investment scope covers companies located in Ukraine and the New Nordic countries, which include Denmark, Finland, Iceland, Norway, Sweden, Estonia, Lithuania, and Latvia. The first investment deal under the new fund is scheduled to close by the end of the year.

Currently, the two merging entities hold a combined portfolio of 15 startups, with 12 of those previously backed by Final Frontier. Several of these existing portfolio companies feature Ukrainian founders, specifically Farsight Vision, Dropla Tech, G-Next Intelligence, and one additional undisclosed startup.