Hummingbird Ventures

Hummingbird Ventures demonstrates how geographic arbitrage creates alpha. While London and Berlin VCs competed for the same deals, Hummingbird invested in Turkey, India, and crypto markets that mainstream European VCs dismissed. Three fund vintages exceeding 10x net returns—performance rivaling top Silicon Valley firms—came from a Belgium base that kept them below radar while they accumulated positions in Kraken, Peak Games, and Deliveroo. Like an actual hummingbird's foraging strategy of visiting flowers others ignore, Hummingbird found nectar in overlooked territories. Their extreme conviction (large positions in high-confidence bets) mirrors apex predator hunting: few strikes, high success rate.