DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
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Firms / B••••••• S•••• V•••••••
B••••••• S•••• V•••••••
B••••••• S•••• V••••••• funds emerging companies shaping the New S•••• Economy, focusing on launch, Earth observation, propulsion, and dual-use defense technologies.
venture manager, reported GAV $25.4M across 4 vehicles
Importance
24
moderate
Active deployment
55
elevated
Emerging
0
low
Completeness
75
high
Freshness
99
high
Research priority
17
moderate
Identity and regulatory footprint
- Headquarters
- Dallas, TXadviserinfo.sec.gov
- Office address
- 3963 MAPLE AVENUE, SUITE 400, Dallas, TX, 75219adviserinfo.sec.gov
- Business phone
- 312-802-5639adviserinfo.sec.gov
- Website
- b•••••••••.com
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 31, 2026
- Private funds reported
- 4 (4 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $124Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- info@balerionspace.combalerionspace.compublished by the subject
- business phone
- 312-802-5639adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
17 observed deals
Stated (the firm’s website)
- Sectors
- space, defense, industrial
- Stages
- not stated or not yet read
- Geography
- not stated
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 71%Other 12%Other Technology 12%Business Services 6%
lead rate n/afollow-on rate n/anew logos, 12 months 17
Funds and vehicles
4 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| B••••••• S•••• V••••••• F••• I•• L••• | Fund | 2024 form d first sale | Fundraising | unknown | unknown | $80.5M | May 4, 2026 |
| B••••••• S•••• V••••••• F••• I• ••••••• P••••••••• L••• | Feeder or parallel | 2024 form d first sale | Fundraising | unknown | unknown | $9.9M | May 4, 2026 |
| B••••••• S•••• V••••••• F••• I• ••••••• P••••••••• L••• | Feeder or parallel | 2024 form d first sale | Fundraising | unknown | unknown | $3.5M | May 28, 2025 |
| B••••••• S•••• V••••••• F••• I• L••• | Fund | 2023 form d first sale | Fundraising | $25.4M Apr 30, 2024 | 57 | $34.7M | May 28, 2025 |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
13 current, 0 departed
B•••• B••••••
Board or advisoryAdvisor
INFO@BALERIONSPACE.COM (published by the subject)FactVenture organization websites (about, team, portfolio, thesis, news pages)
D•••••• M••••••
Board or advisoryAdvisor - Ex. Navy Nuke
D••••• K••••••••
General partnerGeneral Partner
D••••• W••••••
General partnerGeneral Partner
P••• S•••••
General partnerGeneral Partner
P••••• T••••• S•••••
Managing partnerManaging Member · since Jan 1, 2023
D••••• J•••• W••••••
PartnerMember · since Jun 1, 2023
D••••• K••••••••
PartnerMember · since Jun 1, 2023
B•••••• S•••••
Platform and operationsHead of Marketing & Communications
B••• S••••••••
Platform and operationsChief Financial Officer
A•••• D•••••••
PrincipalPrincipal
E•••••• G••••••
PrincipalPrincipal
A•••• M•••••••
Venture partnerVenture Partner
Investments on record
17 edges, 17 companies, 0 partner-attributed
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
24 relationships from shared deals, counted for the whole firm
S•••• Angels 3 shared · recurringType One Management 2 shared · recurringSeraphim S•••• Manager LLP 2 shared · recurringShine Capital 1 shared · one timeShrug, LLC 1 shared · one timeTask Force X Capital Management, LLC 1 shared · one timeAurelia Foundry Management Company, LLC 1 shared · one timeParadigm Operations LP 1 shared · one timeThe Venture Collective LLC 1 shared · one timeHummingbird Ventures V US GP LLC 1 shared · one timeFusion Fund Silicon Valley LLC 1 shared · one timeVanara Capital Management, LLC 1 shared · one timeHaun Ventures Management LP 1 shared · one timeElectric Capital Partners, LLC 1 shared · one timeStage 1 Managers LLC 1 shared · one timeHOF Capital 1 shared · one timePathbreaker Ventures II, LLC 1 shared · one timeCastle Island Management, LLC 1 shared · one timeInnovation Endeavors: Reimagining the technical frontier 1 shared · one timeEclipse Ventures, LLC 1 shared · one timeJ2 Ventures Advisors, LLC 1 shared · one timeRepublic 1 shared · one timeStarbridge Venture Capital LLC 1 shared · one timeCadron Capital Partners Fund Manager LLC 1 shared · one time
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
2 dated events
- Jun 16, 2023B••••••• S•••• V••••••• first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jun 16, 2023B••••••• S•••• V••••••• F••• I• L••• first reported on Form ADV by B••••••• S•••• V••••••• (Venture Capital Fund), GAV $5,388,889Fund first reported on Form ADVFundsFactB••••••• S•••• V••••••• F••• I• L•••SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Micro VC (confirmed, 95%, cls-1)venture manager, reported GAV $25.4M across 4 vehicles
- Sep 12, 2026Micro VC (confirmed, 95%, cls-1)venture manager, reported GAV $25.4M across 2 vehicles
Evidence
42 observations from 3 sources