Danish funds Myriad Defence and Final Frontier merge to invest €100m in Nordic and Ukrainian startups

Danish defence tech venture funds Final Frontier and Myriad are joining forces under a single brand and launching the €100 million Final Frontier Fund II. It will invest in deftech startups at the pre-seed and seed stages, according to a press release Defender obtained.

The investors will focus on companies from Ukraine and the New Nordic countries: Denmark, Finland, Iceland, Norway, Sweden, Estonia, Lithuania and Latvia. The first deal under the new fund is expected to close by the end of the year.

Final Frontier and Myriad currently have a combined portfolio of 15 startups, 12 of which have been backed by Final Frontier. Several have Ukrainian founders, including Farsight Vision, Dropla Tech, G-Next Intelligence and another undisclosed startup.

Final Frontier was founded in late 2024, and it closed its first €4.5m fund in May 2025. Meanwhile, the €2m Myriad defence fund was launched in August 2025.

The investors also add that they help founders at various stages: from building the business and finding specialists to scaling and navigating the sector’s complex procurement cycles.