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Expeditions is a venture capital firm founded in 2021, headquartered in Warsaw, Poland, with additional offices in London and Luxembourg. The firm focuses on the intersection of security and deep technology, aiming to support entrepreneurs developing innovative solutions for European security and defense. Expeditions advocates for civil-military collaboration and seeks to address pressing security challenges through investment in early-stage companies.
As of now, Expeditions manages a fund size of $100 million and has built a portfolio of 30 companies. The firm emphasizes early-stage investments, particularly in sectors that enhance European security. Expeditions has established a strong presence in Europe and North America, targeting companies that operate within the defense and dual-use technology sectors.
Notable milestones include the recent first close of Fund II, which aims to raise a total of EUR 150 million. The firm is actively deploying capital into innovative technologies that address security challenges, positioning itself as a key player in the European defense landscape.
Expeditions invests in early-stage companies across various sectors, including defense, cybersecurity, artificial intelligence (AI), quantum technology, privacy, communications solutions, and space. The firm primarily targets seed, Series A, Series B, Series C, and growth equity stages, with check sizes ranging from EUR 250,000 to EUR 5 million. Expeditions emphasizes the importance of innovation in these sectors to enhance European security.
The firm’s investment strategy is centered around civil-military collaboration, aiming to support founders who can transform security urgency into globally competitive products. Expeditions looks for teams that can sell into defense, intelligence, government, critical infrastructure, or dual-use commercial markets. The firm acts quickly and often leads rounds, ensuring that portfolio companies receive the necessary resources and support to scale effectively.
Expeditions has a diverse portfolio of 30 companies, focusing on innovative technologies in security and defense. Notable portfolio companies include:
This portfolio reflects Expeditions' commitment to investing in companies that are at the forefront of addressing security challenges through deep technology.
Mikołaj Firlej: Co-founder and General Partner. Mikołaj has a background in security and defense, specializing in autonomous systems and AI. He completed a D.Phil at Oxford on autonomous weapon systems and has advised both UK and Polish governments.
Stanisław Kastory: Co-founder and General Partner. Stanisław leads investor relations and operations at Expeditions. He has experience in M&A and corporate law and previously worked at DZP before co-founding Expeditions.
Ewa Milewska: CFO and Partner. Ewa has over a decade of experience in finance, previously working at PwC Deals and leading finance operations at Akademeia Educational Group.
Samuel Burrell: Partner. Samuel is a former Royal Marines Captain with experience in defense and security investments. He has previously worked at Octopus Ventures and specialized in deep tech and quantum investments.
Anthony Mensier: Investment Manager. Anthony focuses on technical diligence and venture development for frontier technologies, with experience in defense tech, cyber, and AI.
To pitch to Expeditions, founders should reach out via email at info@expeditionsfund.com. It is recommended to include a comprehensive pitch deck that outlines the business model, market opportunity, and team background. Expeditions prefers to see clear connections to defense and deep technology sectors in the pitch.
Response times may vary, but Expeditions aims to act quickly on promising opportunities. Founders should consider seeking warm introductions where possible, as this can enhance the likelihood of a favorable response.
As of October 1, 2025, Expeditions announced the first close of its Fund II, targeting EUR 150 million. This fund will focus on early-stage investments in defense and deep technology sectors.
Expeditions has been actively building its portfolio, which currently includes 30 companies. Recent investments include Project Q, Lendurai, and Labrys, all of which align with the firm's focus on innovative technologies in security and defense.
What are Expeditions' investment criteria?
Expeditions focuses on early-stage investments in defense and dual-use companies across sectors such as cybersecurity, AI, quantum technology, and space. The firm looks for teams that can effectively address security challenges and have the potential to sell into defense and intelligence markets.
How can I apply or pitch to Expeditions?
Founders can reach out to Expeditions via email at info@expeditionsfund.com. It is advisable to include a detailed pitch deck that outlines the business model, market opportunity, and team background.
What makes Expeditions different from other VCs?
Expeditions emphasizes civil-military collaboration and focuses specifically on the intersection of security and deep technology. The firm acts quickly and often leads investment rounds, providing strategic guidance and resources to its portfolio companies.
What is the geographic scope of Expeditions' investments?
Expeditions primarily invests in companies based in Europe and North America, with a strong focus on European security and defense.
What is the typical check size for investments?
Expeditions typically invests between EUR 250,000 and EUR 5 million in its portfolio companies, depending on the stage and needs of the business.
What kind of post-investment involvement does Expeditions have?
Expeditions provides strategic guidance, facilitates connections within the defense and deep tech sectors, and supports civil-military collaboration to help portfolio companies scale effectively.
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