# HST Ventures

HST Ventures is a Venture Capital based in Park City, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Park City, United States
- **Region:** North America
- **Address:** Park City, UT, United States
- **Assets under management:** Undisclosed
- **Website:** hst-ventures.com

## Regulatory record

- **CRD number:** 317143
- **SEC file number:** 801-130693
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/317143

## About

HST Ventures is a Park City-based investment adviser built for long-term, research-driven portfolio management on behalf of sophisticated institutions. The team is long-term focused, inquisitive, and detail-oriented in evaluating businesses, structuring portfolios, and communicating decisions. The work is centered on preserving and compounding capital through a disciplined focus on long-term risk-adjusted returns.

## Sectors

- Enterprise Software
- Cybersecurity
- AI/ML
- Defense Tech

## People

- Hank S. Thomas — Founder & Managing Partner

## Questions

### Who makes investment decisions at HST Ventures?

Investment decisions rest with founder and managing partner Hank S. Thomas. His background as a U.S. Army Ranger and co-founder of Blackwater gives him direct operational experience that shapes the firm's deal evaluation, particularly for technologies requiring security clearance or defense procurement insight.

### How does HST Ventures source its deals?

The firm sources through Thomas's deep personal network across the Department of Defense, intelligence community, and special operations. This operator network provides proprietary visibility into emerging dual-use technologies before they reach broader venture markets. The firm does not publicly disclose a dedicated sourcing team beyond Thomas himself.

### Does HST Ventures invest only in defense technology?

While defense and national security applications are the common thread, the firm also backs companies with commercial-first strategies. Portfolio company Anduril, for example, sells to both the Department of Defense and commercial border-security clients. The unifying thesis is dual-use technology — products that can serve government and civilian markets simultaneously.

### What is HST Ventures's relationship to Blackwater?

HST Ventures founder Hank S. Thomas co-founded Blackwater (now known as Constellis) but the venture firm is entirely separate. Thomas drew on capital from his Blackwater exit to launch HST Ventures. The firm does not share ownership, management, or operational infrastructure with any defense contracting entity.

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- [HS LifeSciences](https://altss.com/profile/hs-lifesciences)
- [HSZ Group](https://altss.com/profile/hsz-group)

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Last updated: 2026-08-11T15:07:05.535Z

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