Balerion Space Ventures—a Dallas “frontier tech capital firm” backing the infrastructure of the emerging space and national security economy—has made another strategic investment, one month after announcing investments in Antares Industries, Samara Aerospace, and Valar Atomics. 

Balerion’s newest investment is in El Segundo, California-based Northwood Space. By taking part in Northwood’s $100 million Series B funding round, Balerion said it was continuing deployment of capital “into the foundational infrastructure powering the emerging space economy” and reinforcing the firm’s position as a leading investor in companies building the critical systems required to scale space operations.

Announced on Tuesday, Northwood’s Series B round was led by Washington, D.C.-based Washington Harbour Partners and co-led by Andreessen Horowitz.

Northwood—led by Co-Founder and CEO Bridgit Mendler, a former Disney Channel TV star—is building a global, software-defined ground network that will serve as the communications infrastructure enabling satellites to talk to Earth reliably and efficiently at scale.

‘Accelerating the commercialization of space’

“Private capital is accelerating the commercialization of space at an unprecedented pace,” said Balerion Co-Founder and General Partner Phil Scully.

“As launch costs collapse, the bottleneck shifts to Earth,” he added in a statement. “Ground infrastructure is the critical foundation every orbital mission depends on, and the companies building that enabling layer will define the space economy for decades to come. That’s where Balerion invests.”

Balerion is convinced that the next phase of value creation in the space economy will be driven by infrastructure companies addressing “real operational constraints.”

As orbital activity accelerates and satellite constellations scale, ground systems have emerged as “a defining limitation,” the firm noted.

Northwood’s vertically integrated approach “aligns directly” with Balerion’s strategy of backing foundational platforms that unlock scale across commercial and government missions, the Dallas firm added.

Northwood’s $49.8M U.S. Space Force Award

Along with its Series B announcement, Northwood also announced a $49.8 million contract award from the U.S. Space Force to upgrade the Satellite Control Network. Balerion said that contract validates the “dual-use value proposition” central to the firm’s portfolio strategy across space and defense technologies.

Founded in 2022, Balerion has a multi-disciplinary team with expertise spanning aerospace engineering, venture capital, and institutional investing. It says it’s investing in companies “defining the next industrial revolution beyond Earth’s surface.”

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