Niels Vejrup Carlsen launches Final Frontier: New Nordic VC fund to back European space and defence startups

Copenhagen-based Final Frontier, a Nordic venture capital fund specialising in space and defence technologies announced it has officially launched.

The Danish VC aims to raise €150M to enhance the commercial development of space and the innovative capabilities of the European defense sector for the safety and autonomy of European democracies.

Niels Vejrup Carlsen, founding partner, has 17 years of experience with SEED Capital, leading investments and holding board positions at startups like Trustpilot, Lunar, Vivino, and Dixa.

“Space technologies often have a defence dimension. At the same time, the war in Ukraine has shown that space plays an enormous military strategic role. These sectors are inseparable when we need to re-establish European defence in response to the military threats and geopolitical conflicts that have become a new European reality,” says Niels Vejrup Carlsen.

Why Final Frontier?

Recently, private companies like SpaceX, Rocket Lab, and Planet have become leading players in the commercial development of space, especially in the U.S.

The EU opened up to private and commercial space projects in 2023.

The changing security situation in Europe has created a need for private investment in developing a more innovative defense industry.

Final Frontier aims to find dual-use technologies with broader public benefits.

“The war in Ukraine has revealed a technological arms race so intense that only agile startups can keep pace. We need new innovative companies to challenge the established players and create a more dynamic market. Meanwhile, we can expect massive public investments in defence in the coming years, so meeting the demand will be a challenge in itself,” adds Niels Vejrup Carlsen.

To focus on Nordic regions

Founded in 2024, Final Frontier has a European investment scope but will focus on the Nordic region, where half of its investments are expected to be made.

It will be the first private venture capital fund in Denmark to invest in aerospace and defence.

“Europe is falling behind the U.S. and China in terms of innovation. We need to invest more in space and defence, if we wish to remain a prosperous region. In return, this will help solve humanity’s grand challenges and benefit crucial sectors like health or climate tech,” concludes Niels Vejrup Carlsen.