Founded
2020
Team Size
Backswing Ventures has a small, specialized investment team. Key team members include Kyle Asman (Founder & Managing Partner), Michael Vergura (Partner), James Block (Partner), and Audrey Haugh (Principal)
Vision and Mission
Backswing Ventures invests in founders building critical defense and national security technologies. The firm invests early, supports decisively, and remains focused on one objective: delivering strong returns for investors.
Company Success Story
Since its founding in 2020, Backswing Ventures has raised and deployed three successive funds, growing from an emerging fund launched during a global pandemic into a recognized, strategic player in the defense technology investment space. Fund II surpassed 1.0x DPI in under three years — a benchmark that places Backswing in the top tier of early-stage VC performers by Carta industry data. Portfolio companies span AI-enabled threat detection, drone and aerospace systems, GPS/positioning technology, and defense-grade hardware.
Leadership Team
Kyle Asman – Founder and Managing Partner:
Kyle Asman is a defense-focused investor and entrepreneur with over a decade of experience in investment banking and venture capital. In 2020, he founded Backswing Ventures, a venture capital firm investing in national security and defense technology. Under his leadership, Backswing has launched three funds in the defense and national security space, delivering significant returns for investors. Prior to Backswing, Kyle co-founded BX3 Capital and held roles at leading financial institutions including Goldman Sachs and Duff & Phelps. He holds a degree from Arcadia University and is an avid golfer and skier.
James Block – Partner
James Block is a seasoned finance professional with more than 35 years of experience as an entrepreneur, principal, and investor, sourcing and raising capital across alternative investments in sectors including real estate, retail, food and beverage, manufacturing, and defense. Since 2002, he has played a key role at a nationally recognized real estate development firm, overseeing the sourcing, structuring, negotiation, and closing of complex public and private debt and equity financings with institutional and private investors. He has closed more than $3 billion across 50+ transactions. James holds a BA in Economics from Washington University in St. Louis and an MBA from The Wharton School at the University of Pennsylvania.
Mike Vergura – Partner
Mike Vergura is a Partner at Backswing Ventures, a venture capital firm investing in national security and defense technology. He brings a rare combination of institutional finance expertise and alternative investment experience to his role, overseeing all aspects of fund operations from fundraising and investor relations to investment selection and portfolio company growth. An original investor in Backswing’s Fund I, Mike became a Partner during the formation of Fund II. Before joining Backswing, he built a 30-year career in commercial real estate underwriting and lending at institutions including Lehman Brothers, Capital One, and PNC Bank. Mike holds a BBA in Finance from the University of Notre Dame and an MBA in Finance from NYU Stern School of Business.
Audrey Haugh – Principal
Audrey Haugh is a Principal at Backswing Ventures, where she supports deal sourcing, due diligence, investor relations, and fundraising across the firm’s defense and national security portfolio. She helps strengthen Backswing’s presence through strategic investor engagement, company evaluation, platform management, and relationships with government innovation organizations such as DARPA, DIU, and Army Applications Labs. Her work focuses on identifying emerging dual-use technologies with potential for government and commercial adoption and supporting founders as they scale within the defense ecosystem.
Audrey holds a Bachelor of Science in Kinesiology & Exercise Science, with a minor in Entrepreneurship, from the University of Texas at Austin. Outside of work, she is an avid skier and enjoys time with her family and two miniature schnauzers.
Main Services
Backswing Ventures is an early-stage venture capital firm investing in mission-critical technologies that strengthen national security, industrial resilience, and strategic advantage. The firm partners with founders building innovative solutions across defense, dual-use, and critical infrastructure markets, with a particular focus on technologies that can scale commercially while addressing government and national security needs.
- Defense & National Security technology companies
- Dual-use technologies with both commercial and defense applications
- Aerospace, autonomy, robotics, and advanced manufacturing
- Energy, infrastructure, and other strategic systems
- Foundational technologies that enable long-term national resilience
Beyond capital, Backswing provides portfolio companies with access to its network of defense and commercial operators, government stakeholders, strategic partners, and co-investors, helping founders navigate customer adoption, fundraising, and company growth.
Future Commitment
Backswing Ventures remains committed to being a disciplined, returns-driven investor in the defense technology ecosystem. As global demand for advanced national security technologies accelerates, the firm continues to deepen its investment thesis across autonomy, drone systems, critical infrastructure, advanced manufacturing, and dual-use opportunities. With Fund III underway, Backswing is positioned to capitalize on emerging opportunities in these markets while pursuing strong returns for its limited partners and backing the next generation of companies strengthening U.S. and allied defense capabilities.