Polovets: Humba Ventures paused defense investing due to inflated valuations
Leo Polovets · Is Non-Consensus Investing Overrated? · Sep 4, 2025 · at 27:10
Leo Polovets, General Partner at Humba Ventures, explains how geopolitical crises caused defense tech valuations to spike without improving company fundamentals.
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“We invested in defense a lot three, four years ago, and then we kept looking, we're basically paused for a year and a half or two, because after the Ukraine and Israel thing, you know, prices just went up like two, three, four times, but the company fundamentals didn't change.”
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