MITS Fund ('Machine In The Sky' Fund)
ActiveVenture Capital
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Financial History
Total Raised
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Valuation
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Leadership Team
Key people at MITS Fund ('Machine In The Sky' Fund).
Key people at MITS Fund ('Machine In The Sky' Fund).
Key people at MITS Fund ('Machine In The Sky' Fund).
MITS Fund, also known as the "Machine In The Sky" Fund, is a multi-stage investment fund dedicated to backing entrepreneurs who are building world-changing companies, with a particular focus on defense and dual-use technologies related to Ukraine's battlefield innovation ecosystem[1][3]. Its investment philosophy centers on supporting scalable, innovative solutions in the "drone war" segment and other defense technologies validated in combat by the Armed Forces of Ukraine (AFU)[3][4]. The fund operates not only as a venture capital investor but also combines accelerator and financial advisory services to help startups grow and scale effectively[3]. By channeling Western capital into Ukraine’s defense industrial base, MITS Fund plays a critical role in strengthening the startup ecosystem around military innovation, fostering technological independence, and enhancing global security[3][4].
MITS Fund was founded with the mission to support Ukraine’s defense innovation during a time of heightened geopolitical conflict, focusing on early-stage and growth investments in defense technology[3]. It is led by seasoned investors and defense experts who bring deep domain expertise in military innovation and venture capital[3]. The fund has evolved to include multiple components such as the MITS Lightning Fund (venture fund), MITS Accelerator (Y Combinator-style program), an investment bank, and a think tank/lab initiative to cover the full spectrum from early-stage ideation to late-stage scaling and market entry[3]. This evolution reflects a comprehensive approach to addressing the unique challenges of defense startups operating in a conflict zone.
MITS Fund rides the critical trend of leveraging battlefield-proven innovation to maintain technological superiority in modern warfare, particularly in drone warfare and defense technologies[3][4]. The timing is crucial due to ongoing conflict in Ukraine, which has accelerated the development and deployment of cutting-edge military technologies validated in real combat scenarios[3]. Market forces favoring rapid innovation, supply chain independence (especially from Chinese components), and increased Western defense spending create a fertile environment for MITS Fund’s investments[4]. By bridging Western capital with Ukrainian innovation, MITS Fund influences the broader defense tech ecosystem, fostering resilience and technological edge for allied nations.
Looking ahead, MITS Fund is poised to expand its influence by scaling more startups from early-stage TRL (Technology Readiness Level) 1-4 to growth-stage TRL 7-9 companies, further solidifying Ukraine’s role as a hub for defense innovation[3]. Trends such as autonomous systems, AI in warfare, and supply chain diversification will shape its investment focus. The fund’s integrated model of investment, acceleration, and advisory positions it well to adapt to evolving defense needs and geopolitical shifts. Its continued success will likely deepen the technological edge of the free world over autocratic adversaries, reinforcing the strategic importance of battlefield-validated innovation[4].
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Sep 1, 2016 | ProSky | $2.0M Seed | — | 500 Startups, 500 Global, 8090 Industries, Alpine Meridien, David Ibnale, Brainchild, DST Global, Exor Ventures, GPO Fund, Humbition, Hustle Fund, iNovia Capital, Kapor Capital, Kleiner Perkins, LAUNCH, Learn Capital, Lightbank, Long Journey Ventures, Maverick Capital, Norwest Venture Partners, Otherwise Fund, Revolution, RRE Ventures, Silicon Valley Connect, Tribeca Venture Partners, Union Square Ventures, Webb Investment Network, Y Combinator, Erik Matlick, Esther Dyson, Frank Barbieri, Freada Kapor Klein, Jeff Hammerbacher, Joshua Schachter, Lisa Gansky, Rob May, Sam Altman, Yee Lee |
| Jul 1, 2016 | Fotition | $1.0M Seed | — | — |
| Aug 1, 2014 | Funnely | $990K Seed | — | — |
