Humba Ventures Launches $40M Fund Targeting Deep Tech and Defense Tech
Sumba Ventures, the sister firm of seed-stage investor Susa Ventures, has successfully raised a $40 million fund dedicated to backing innovative startups in deep tech and defense technology sectors.
Surging Interest in Defense Tech Investments
The fund launch coincides with record-breaking venture capital activity in defense tech. According to Crunchbase data, startups in this space have attracted nearly $3 billion in funding during 2024 alone.
Strategic Shift from Software to Hardware
While Susa Ventures has traditionally focused on fintech and software investments (including notable successes like Robinhood and Flexport), Humba represents a strategic pivot toward hardware-intensive technologies. Current portfolio companies include:
- Treeswift: Developing robotic solutions for forest monitoring
- Antares: Pioneering nuclear microreactor technology
Investment Philosophy: Technology Over Traction
Leo Polovets, Susa Ventures co-founder and Humba general partner, explains the fundamental difference in evaluating deep tech opportunities:
“In fintech, we focus on distribution and product-market fit. With deep tech, the demand for solutions like cancer treatments or affordable energy is undeniable. The critical questions become: Will this technology work? Is this the right team to build it?”
Careful Capital Sourcing Strategy
Polovets implemented a selective approach to fundraising, prioritizing investors from:
- United States
- United Kingdom
- New Zealand
- Australia
- Canada
The firm deliberately avoided capital from regions like China and the Middle East to align with its focus on U.S. government-facing technologies.
Competitive Advantage Through Shared Resources
Despite the $40 million fund size, Humba benefits from:
- Shared infrastructure with Susa Ventures
- Operational efficiencies (including software discounts)
- Combined marketing reach
Polovets notes: “Our structure allows both funds to punch above their weight, delivering capabilities comparable to larger $100-150 million funds.”
Entering a Crowded but Growing Market
Humba will compete with established players like Andreessen Horowitz’s American Dynamism initiative and Founders Fund. However, its unique sister-fund model and specialized focus position it as a distinctive player in this high-growth investment space.
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