VC Overmatch Nabs $250 Million for Bets on Defense, Quantum

With more global conflicts brewing and artificial intelligence reshaping modern warfare, defense tech investing is ascendant. That’s presented an opportunity for Overmatch Ventures, which is raising a $250 million fund to bet on startups working on products like drones, spacecraft and portable renewable energy.

With the new funding, Texas-based Overmatch is also adding a third general partner: Morgan Hitzig, a Navy officer who was previously an investor at Venrock.