Danish investment funds Final Frontier and Myriad have announced a merger to raise €100 million for Final Frontier Fund II, which will focus on pre-seed and seed-stage investments in defence technologies in the Nordic countries and Ukraine.
“Today we announce that Final Frontier and Myriad join forces to create that platform and move forward under one brand. Together we help founders at every stage: from early building to organisational scaling, from access to specialists to navigating the sector's complex procurement cycles. We are targeting €100 million for Final Frontier Fund II backing pre-seed and seed stage defence tech across the New Nordics and Ukraine, with a first close by the end of the year,” Final Frontier said in a statement .
The first closing of the fund following the merger is planned by the end of 2026.
The new platform brings together Myriad’s founders and executives with Final Frontier’s defence expertise, including geopolitical expertise and experience working with armed forces.
Final Frontier is a venture capital fund founded by former Seed Capital partner Niels Vejrup Carlsen. Its first €4.5 million fund closed in May 2025, with former NATO Secretary General Anders Fogh Rasmussen among its investors.
Myriad is a defence fund launched in August 2025 with initial capital of €2 million. Its founders include Alexander Aghassipour, who was among Zendesk’s executives when the company went public at a valuation of $1.7 billion, and Klaus Nyengaard, who expanded Just Eat from 35 employees through to its IPO.
The funds have so far built a portfolio of 15 companies.
“However, there is still an urgent need for more capital in early stage defence tech and most investors are too small,” the statement said.
