Black Pearls VC
Black Pearls VC is an early-stage venture capital firm based in Gdańsk, Poland, investing in frontier and dual-use technology startups across the Baltic Sea region. As of December 31, 2023, the firm concluded its investment period and rebranded to Balnord.
- Company typePrivate
- Founded2021
- HeadquartersGdansk, Poland
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Black Pearls VC does
Black Pearls VC is an early-stage venture capital firm headquartered in Gdańsk, Poland (al. Grunwaldzka 472). The firm invests in technology startups developing defensible technologies with the potential to become market leaders, with a specific thematic focus on frontier and dual-use technologies across the Baltic Sea region. Black Pearls VC was founded in 2021 and operates with a small team of 11–50 employees led by Managing Partner Marcin Kowalik, CFO Hubert Szczołek, and Chairman of the Supervisory Board Piotr Pągowski, supported by Principal Tomasz Woźniak and Head of Acceleration Wojciech Drewczynski. The firm holds industry memberships in InvestEurope and PSIK (Polish Private Equity Association).
As a venture capital firm, Black Pearls VC's revenue model is fund-based rather than product-based: it raises and manages investment funds that deploy capital into portfolio companies, generating returns through management fees and, ultimately, carried interest on successful exits. The firm deployed approximately €13 million across 10 portfolio companies, with several achieving subsequent financing and revenue milestones. The associated fund (now under the Balnord identity) oversubscribed its initial €70 million close and is targeting a €100 million final close by 2026, with stated plans to invest in at least 22 companies across Europe — expanding beyond the original Baltic Sea regional focus.
As of December 31, 2023, Black Pearls VC officially concluded its investment period and the team transitioned to continue its mission under a new brand identity, Balnord. This transition indicates a continuation of operations rather than dissolution, with the underlying capital vehicle and team persisting under reconfigured branding. No technology platform, proprietary product, or app-based offering is associated with the firm; its deliverable is capital allocation, strategic support, and acceleration services to early-stage portfolio companies.
Black Pearls VC firmographics
Firmographics- Name
- Black Pearls VC
- Legal name
- Black Pearls VC
- Website
- https://blackpearls.vc
- Company type
- Private
- Founded year
- 2021
- Operating status
- Closed
- Headcount range
- 11–50 employees
- Short description
- Black Pearls VC is an early-stage venture capital firm based in Gdańsk, Poland, investing in frontier and dual-use technology startups across the Baltic Sea region. As of December 31, 2023, the firm concluded its investment period and rebranded to Balnord.
- Ownership category
- akta.pro rank
Black Pearls VC industry classification
Industry- Product category
- Venture Capital
- NAICS
- Other Financial Vehicles (525990)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Micro-VC & Angel Funds (FSANAAAI)
Keywords
Where Black Pearls VC is headquartered
LocationHeadquarters
- HQ city
- Gdansk
- HQ country
- Poland
- HQ region
- Europe
Offices1 record
Markets served
Black Pearls VC business model
Business model- GTM type
- B2B
- Offering type
- Services
Black Pearls VC product offering
Product offeringCore offering
Black Pearls VC is an early-stage venture capital firm that raises and manages investment funds to provide capital to technology startups with defensible technology and market leader potential, primarily in frontier and dual-use technologies across the Baltic Sea region and broader Europe. The firm deployed approximately €13 million into 10 portfolio companies as part of its initial fund, which oversubscribed at €70 million and targeted a €100 million final close by 2026 with plans to invest in at least 22 companies.
Product overview
Black Pearls VC was an early-stage venture capital firm focused on the Baltic Sea region that supported startups in frontier and dual-use technologies. The firm concluded its investment period as of December 31, 2023 and transitioned its operations to its new identity, Balnord. No separate product offerings or modules exist under the Black Pearls VC brand.
Differentiator
Problem solved
Functional benefit
Products and services
- Balnord Fund (formerly Black Pearls VC Fund)
Companies that use Black Pearls VC
Customer profileSegments1 record
Black Pearls VC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Black Pearls VC partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- InvestEuropeminorBlack Pearls VC was a member of InvestEurope, a pan-European association representing private equity and venture capital investors. Membership indicates alignment with industry standards and best practices in the European investment ecosystem.
- PSIK (Polish Private Equity Association)minorBlack Pearls VC was a member of PSIK (Polskie Stowarzyszenie Inwestorów Kapitałowych / Polish Private Equity Association), the national industry body for private equity and venture capital in Poland.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
Black Pearls VC competitors and assessment
Company assessmentMarket position
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Black Pearls VC social profiles
Digital presenceBlack Pearls VC financial estimates
Financial estimateRevenue estimate
Valuation estimate
Black Pearls VC leadership team
Management profileNumber of profiles
Black Pearls VC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Black Pearls VC M&A and investment
M&A and investmentM&A
Investments63 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Black Pearls VC
What does Black Pearls VC do?
Black Pearls VC is an early-stage venture capital firm that raises and manages investment funds to provide capital to technology startups with defensible technology and market leader potential, primarily in frontier and dual-use technologies across the Baltic Sea region and broader Europe. The firm deployed approximately €13 million into 10 portfolio companies as part of its initial fund, which oversubscribed at €70 million and targeted a €100 million final close by 2026 with plans to invest in at least 22 companies.
Is Black Pearls VC a public or private company?
Black Pearls VC is a private company. It is classified as founder individual operated bootstrapped and is currently closed.
When was Black Pearls VC founded?
Black Pearls VC was founded in 2021. It employs 11 to 50 people.
Where is Black Pearls VC based?
Black Pearls VC is headquartered in Gdansk, Poland, in the Europe region.
Does Black Pearls VC have an API?
No public API is recorded for Black Pearls VC.
What industry is Black Pearls VC in?
Black Pearls VC's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAI, Micro-VC & Angel Funds. Its NAICS code is 525990 and its SIC code is 6211.