Hummingbird targets $800M raise to back "misfit" founders worldwide
What's the deal? Hummingbird Ventures is targeting an $800M fundraise — its largest yet — comprising a $600M growth fund and $200M for early-stage bets. The firm, known for contrarian investments across crypto, gaming, and semiconductors, is hunting globally for "misfit" founders others overlook.
The raise was oversubscribed within a week, and would push Hummingbird's total assets to nearly $2B.
Why now? Hummingbird's leaders argue a new class of AI-powered companies can scale faster than any previous generation — making 10x returns achievable even at later stages, where most growth investors settle for 3x. The new growth vehicle also targets a structural gap: European startups routinely turn to US investors at later stages, short of local capital.
That gap is already visible in its dealflow. In February 2026, Hummingbird led a $220M round for secretive UK chip venture Olix, and participated in Revolut's share sale in 2025 at a $75B valuation.
What could go wrong? Hummingbird's contrarian, sector-agnostic model means it operates without the guardrails most VCs rely on — making misses more likely. Its newer, larger funds also carry more unrealised returns than its earlier vintages, which returned 10x or more. Whether recent picks can match that record remains to be seen.
The signal: Hummingbird's edge lies in its founder-selection process, which is as unconventional as its portfolio. The firm actively seeks out founders with histories of trauma and neurodivergent traits — qualities most VCs treat as red flags. Its partners believe adversity breeds the kind of obsessive, unrelenting drive that builds category-defining companies.
That thesis has paid off. A $6M bet on KrakenDealroom has a profile for this one. Try Dealroom → generated nearly $600M in realised gains; a $3M early investment in Lovable is now worth over $600M on paper, after the AI coding startup's valuation hit $6.6B. Founding partner Barend Van den BrandeDealroom has a profile for this one. Try Dealroom → and managing partner Firat IleriDealroom has a profile for this one. Try Dealroom → earned spots on the Forbes Midas List Europe for the first time in December 2025 — a rare double debut for a single firm.
Its model — small team, global reach, no fixed sector focus, deep psychological diligence — directly challenges the institutionalised approach that dominates venture. If AI compresses growth curves as dramatically as Hummingbird believes, the case for backing "unreasonable" founders at any stage gets considerably stronger.
Sources:
The Financial Times
Forbes
Image credit:
Hummingbird Ventures
J.V.
