Humba Ventures Launches $40M Fund for Deep and Defense Tech Investments

Humba Ventures has raised a $40 million fund to invest in deep tech and defense tech startups, marking a shift from its sister firm Susa Ventures' focus on fintech and software. The fund launch coincides with a surge in defense tech investments, which have reached nearly $3 billion in 2024. Co-founder Leo Polovets emphasizes the need for different evaluation criteria for deep tech investments, focusing on technology viability and team capability. Humba Ventures will primarily source funds from the U.S., U.K., New Zealand, Australia, and Canada, avoiding affiliations with China and the Middle East.