Expeditions Fund II | 2021 VC Fund

Expeditions

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Status

ACTIVE

Global HQ

Warsaw, Poland

Countries of investment

Poland
United Kingdom
United States
Germany
France
Netherlands
Sweden
Denmark
Finland
Estonia
Latvia
Lithuania
Australia
Ukraine

Investment stages

Pre-Seed
Seed
Series A

Industries

Cybersecurity
Defense Technology
Intelligence
Autonomous Systems
Artificial Intelligence
Quantum Computing
Privacy
Communications
Space
DeepTech
Dual-Use

About
Expeditions is a Warsaw-based venture capital firm focused on rebuilding European security through dual-use deep tech investments. Their focus spans cybersecurity, defence, autonomy, AI, quantum, and space across Poland, United Kingdom, United States, Germany, France, Netherlands, Sweden, Denmark, Finland, Estonia, Latvia, Lithuania, Australia, and Ukraine. The firm supports security tech founders from pre-seed through Series A stages.

Min check size: $500K
Max check size: $3M
Fund size: Unlock
NPS: Unlock

Investment Thesis

Expeditions is a pre-seed to Series A stage venture capital firm deploying capital across cybersecurity, defence and intelligence, autonomy, AI, quantum computing, privacy, communications, and space sectors. They invest as high-conviction lead investors in seed rounds, deploying patient capital into dual-use deep tech startups building the future of European security. The firm differentiates itself as the leading early-stage investor in European security and defence innovation, with founders' academic and policy expertise including advisory work for UK and Polish governments and UN Group of Governmental Experts.

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Co Invest: Unlock
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Manager's Experience

Founded in 2021 by Dr Mikolaj Firlej (Co-founder and General Partner, Oxford D.Phil with thesis on autonomous weapon systems, advisor to UK and Polish governments, member of UN Group of Governmental Experts on autonomous weapons regulation, established Centre for Technology and Global Affairs at Oxford) and Stanislaw Kastory (Co-founder and General Partner, former M&A and corporate law specialist at DZP Poland's largest law firm, established DZP Future advising early-stage startups). Ewa Milewska serves as CFO and Partner. Samuel Burrell (Partner and Investment Lead for AUKUS) joined from NSSIF where he led investments into Oxford Ionics, PsiQuantum, Riverlane, Infleqtion, and NuQuantum, holds MBA from INSEAD. Anthony Mensier serves as Investment Manager running the Silent Unseen Incubator with a decade+ experience in Defence Tech, Cyber, and hybrid hardware-software systems. Emerged from Firlej Kastory family office. Recently closed Fund II at €197 million for European defense startups.