# Expeditions Fund

Expeditions Fund is a Private Equity based in Warsaw, Poland.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Warsaw, Poland
- **Region:** Europe
- **Address:** Warsaw, Poland
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** expeditionsfund.com
- **LinkedIn:** linkedin.com/company/expeditions-preseli-hills

## Regulatory record

- **Reports private funds:** No

## About

Expeditions is the leading early-stage investor in the future of European security. It invests in defence and dual-use companies across deep tech sectors including cybersecurity, intelligence, autonomy, AI, quantum, privacy, communications solutions and space. Its mission is to back the entrepreneurs designing the architecture of Europe’s security, and in doing so, restoring its economic and strategic power.

## Sectors

- Defence Tech
- Cybersecurity
- AI/ML
- SpaceTech
- Robotics & Automation

## People

- Dr Mikolaj Firlej — Co-founder & General Partner
- Stanislaw Kastory — Co-founder & General Partner
- Ewa Milewska — CFO and Partner
- Samuel Burrell — Partner and Investment Lead for AUKUS

## Questions

### Who runs investment decisions at Expeditions Fund?

Dr Mikolaj Firlej and Stanislaw Kastory serve as the firm's co-founders and General Partners, while Samuel Burrell leads AUKUS-related deal execution. Anthony Mensier conducts technical due diligence and runs the Silent Unseen Incubator, and CFO Ewa Milewska supports deal execution alongside Kastory. The firm's website presents a consensus-driven partnership where investment decisions are informed by the team's combined policy, operational, and financial experience.

### How is Expeditions Fund related to Firlej Kastory?

Expeditions Fund was launched in 2021 by Firlej Kastory co-founders Dr Mikolaj Firlej and Stanislaw Kastory. While Expeditions makes direct early-stage investments in European security and deep tech startups, Firlej Kastory operates as a private investment firm that invests in other VC funds. Both partners remain active across both entities.

### Which sectors does Expeditions Fund explicitly avoid?

The firm's stated mandate is narrowly defined around European security and defence innovation, including dual-use deep tech. Sectors outside the cybersecurity, autonomous systems, AI, quantum, communications, and space verticals are not part of the fund's disclosed investment scope.

### What is the Silent Unseen Incubator?

The Silent Unseen Incubator is a vehicle within Expeditions directed by Investment Manager Anthony Mensier. It focuses on technical due diligence and venture development for frontier technologies, drawing on Mensier's decade-plus experience in Defence Tech, Cyber, and hybrid hardware-software systems for national security applications.

### What is Expeditions Fund's known posture on co-investments?

Expeditions has not publicly articulated a formal co-investment policy, but its investment team's track record includes previously leading investments at Octopus Ventures and NSSIF alongside other institutional backers. Its current stated preference is to operate as a high-conviction lead investor in seed rounds, leaving its appetite for club deals or follow-on syndication unstated.

## Related profiles

- [Expedition Growth Capital](https://altss.com/profile/expedition-growth-capital)
- [Expensify Ventures](https://altss.com/profile/expensify-ventures)

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Last updated: 2026-08-11T15:06:42.396Z

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