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Humba Venturessaid today it has raised $ 40 million to gift in deep tech and defense tech startup . It is a sis - firm toSusa Ventures , the seed - stage house that has backed companies like Robinhood , Human Interest , and Flexport .
The fund comes at a fourth dimension when defensive measure technical school is see venture investment accomplish platter high : startup in the sector have raised nearly $ 3 billion so far in 2024,according to Crunchbase .
Susa has historically invested in fintech and software companies — a far watchword from some of the ironware bets the Humba team has already made — Treeswift , for one , uses robot to supervise timber , while Antares is working on nuclear microreactors .
Susa Ventures ’ carbon monoxide - founder Leo Polovets ( pictured above , on the left wing with Anna - Sofia Lesiv ) is doubling as a general partner at Humba Ventures , and he said when making investments through Humba , he has to align how he evaluates companies .
When he ’s calculate at fintech or BaaS company for Susa , “ you ’re search for insight on dispersion , go - to - market and product - market fit , because that ’s where most companies struggle , ” he tell .
“ On the deep technical school side , it ’s kind of the opposite , where there ’s no question that there ’ll be demand for thing like malignant neoplastic disease cures or cheaper energy , ” Polovets said . “ The doubt is like , is this engineering gon na work ? Is this the best team that can make it ? ”
To establish a defense tech fund , Polovets had to approach fundraising from a unlike perspective . He consulted friends about whether he should take international money for Humba , specially when the squad would be commit in startups that sell to the U.S. government . The consensus was clear : For the most part , cohere to money from the U.S. , U.K. , New Zealand , Australia , and Canada .
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“ I did n’t take any money affiliate with China , for model , or the Middle East , ” he said . “ I had a dyad LPs that were concerned , but we decide that we would rather partner with other folks . ”
Humba will be contend in a fussy sphere , particularly with firms like Andreessen Horowitz with its American Dynamism enterprisingness as well as Founders Fund , but Polovets sees the sister - fund anatomical structure as a huge selling point . He said Humba and Susa share resources , like bank discount on computer software like Carta , and selling power . “ Even though it ’s a $ 40 million fund , I cogitate the resourcefulness find more like that of a $ 100 million or $ 150 million fund , ” he said . “ Both funds end up basically punching above their weighting on AUM . ”
