Danish defence technology investors Final Frontier and Myriad announced on 21 September 2026 that they are merging under the Final Frontier brand. The combined platform will target a €100 million fund to invest in early stage defence startups across the New Nordics and Ukraine. The move brings together complementary strengths in defence networks and operational scaling to address Europe's growing security investment needs.
Responding to a New Security Landscape
Europe is rearming on a scale not seen in a generation as national security spending accelerates across the continent. The war in Ukraine has shown that speed, software and small teams can determine outcomes on the modern battlefield. Private investment capital is becoming essential to develop the technologies that will defend Europe over the next thirty years.
A Combined Platform Rooted in Nordic Defence
Final Frontier was founded in late 2024 by former Seed Capital general partner Niels Vejrup Carlsen. Its €4.5 million first fund closed in May 2025 with backing from investors and industry leaders including former NATO Secretary General Anders Fogh Rasmussen. Myriad launched in August 2025 as a €2 million early stage New Nordic defence fund led by experienced operators.
Operator Experience Meets Defence DNA
Myriad's founding team includes Alexander Aghassipour, who helped take Zendesk from startup to a $1.7 billion IPO and a $10.2 billion acquisition, and Klaus Nyengaard, who grew Just Eat from 35 employees to a category-defining IPO. The firm brings operator discipline to Europe's defence sector. The merger is intended to combine that discipline with Final Frontier's deep defence expertise.
Identifying an Early Stage Financing Gap
The two firms began comparing notes over a cup of coffee in May 2026. Their first year of operations and a combined portfolio of 15 companies showed that the region does not lack talent, technology or ambition. They concluded that there is still an urgent need for more capital in early stage defence technology and that most investors are too small.
Why Scale Matters for Specialist Investors
The New Nordic region has produced world class software and technology founders, but early stage defence investing has remained fragmented. Final Frontier and Myriad argue that specialist funds need sufficient scale, networks and sector knowledge to help startups navigate long procurement cycles. By pooling their resources, the new platform aims to turn regional talent into companies capable of serving European security needs.
Targeting a €100 Million Fund
Under the Final Frontier name, the platform aims to support founders at every stage from early product development and access to specialists to organisational scaling and complex procurement cycles. The new fund is targeting €100 million for Final Frontier Fund II and will back pre-seed and seed stage defence technology startups. A first close is expected by the end of the year.
Backing Category Defining Companies
The firm said it will back technologies shaping the future defence industry and founders capable of building category-defining companies. The goal is to deliver exceptional returns while leading the New Nordic defence ecosystem. The team believes its first year shows that the strategy is working and that the merger strengthens its position.
A Clear Call to Institutional Investors
Final Frontier stated that Europe does not need more spectators but rather capital building its defence capabilities. The firm is inviting institutional investors and family offices to participate in the new fund and help shape the ecosystem. Its message positions private capital as a central part of Europe's long term security, industrial resilience and strategic autonomy.
The merger of Final Frontier and Myriad creates a more substantial platform for early stage defence technology investment in Northern Europe. By aligning defence expertise with founder networks and operational experience, the combined entity hopes to address a clear financing gap. With a €100 million target and a first close planned before the end of 2026, the initiative signals growing momentum in European defence venture capital.