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Old Parkland, where Crow Holdings is based in Dallas, is a signature development of the real estate powerhouse. [Photo: Crow Holdings]<\/p>\n
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Beau Spradling<\/p>\n
Balerion Space Ventures, a Dallas-based venture capital fund investing in next-gen space, defense, and deep technology companies, has announced the appointment of Beau Spradling as chief financial officer and the establishment of the firm\u2019s headquarters at the Old Parkland campus.<\/p>\n
The announcements come as the fund nears the close of its $200 million fund, with most of the activity happening in the last six months, deploying capital to Valar Atomics<\/a>, Impulse Space, Northwood Space<\/a>, Armada AI, and X-Bow Systems, among others.<\/p>\n \u201cAs Balerion deepens its commitment to the space and defense ecosystem, having a rigorous financial leader with institutional-grade experience is essential,\u201d General Partner Phil Scully said in a statement. \u201cBeau\u2019s background managing complex investment structures at one of Dallas\u2019 leading alternative asset firms makes him the ideal partner to help us steward capital, support our 13 portfolio companies, and scale the fund going forward.\u201d<\/p>\n Spradling brings extensive experience in funds management and alternative investments, most recently serving as director of accounting for the real estate division of the Dallas based, global alternative asset management firm Canyon Partners. A credentialed CPA with specialization spanning funds management, real estate, and investment operations, Spradling joins as the fund boosts deployment throughout its growing portfolio.<\/p>\n \u2018Privacy, prestige, and purpose\u2019<\/p>\n With the final close of its $200 million fund expected within the coming weeks, Balerion Space Ventures has already engineered a portfolio of 13 investments across the space, defense, and deep technology sectors. The firm said that the fund\u2019s imminent close signals investors\u2019 conviction in the national security and space economies \u2014 sectors that have seen powering government and commercial tailwinds.<\/p>\n The addition of Spradling as CFO and the establishment of a permanent Dallas headquarters at Old Parkland will bolster the firm for its next phase of growth as it prepares for future funds, the company said.<\/p>\n Balerion Space Ventures will operate from Old Parkland, a world-class business campus situated at the corner of Oak Lawn Avenue and the Dallas North Tollway in Uptown Dallas. Originally founded in 1894 and opened as a hospital in 1913, the campus was acquired by Crow Holdings in 2006, meticulously restored, and transformed into a prestigious office complex. Today, Old Parkland houses family offices, private equity firms, foundations, and civic leaders\u2014with Balerion calling it \u201can enclave defined by privacy, prestige, and purpose.\u201d<\/p>\n \u201cOld Parkland is where serious capital calls home,\u201d said Scully. \u201cAs we grow our portfolio of companies defining the future of space and national security, being part of this campus reinforces our conviction that the deepest relationships in venture are built face-to-face, in a place that inspires excellence.\u201d<\/p>\n Founded in 2022, Balerion has a multi-disciplinary team with expertise spanning aerospace engineering, venture capital, and institutional investing. It says it\u2019s investing in companies \u201cdefining the next industrial revolution beyond Earth\u2019s surface.\u201d<\/p>\n Don\u2019t miss what\u2019s next. Subscribe\u00a0to\u00a0Dallas\u00a0Innovates.<\/p>\n Track Dallas-Fort Worth\u2019s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.<\/p>\n \u00a0<\/p>\n \tR E A D\u00a0\u00a0 N E X T\t<\/p>\n \t Phil Scully, co-founder and general partner at Balerion, said L.A.-based Machina Labs “is building the manufacturing backbone” for modern defense systems, which “are often limited not by design, but by how fast they can be manufactured.”<\/p>\n \t California-based Northwood\u2014led by Co-Founder and CEO Bridgit Mendler, a former Disney Channel TV star\u2014is building a global, software-defined ground network that will serve as the communications infrastructure enabling satellites to talk to Earth reliably and efficiently at scale. The company recently signed a $49.8M contract with the U.S. Space Force.<\/p>\n \t In partnership with Lewisville\u2013based Open Space, the city of Cedar Hill has brought in a herd of goats to chow down on overgrown vegetation in a local nature preserve\u2014aiming to get rid of invasive plant species while restoring the natural balance of the habitat for pollinators, birds, and other wildlife.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us-tx\/wp-content\/uploads\/2026\/02\/MachinaLabs-970.jpg\")
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