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In just under a decade, Susa has become one of the best seed firms in the industry: their $25M Fund I famously invested in Flexport and Robinhood. Now, ten years later, they’re taking all their learnings and relaunching the firm with a new vision and strategy, which Susa General Partner, Chad Byers, tells us about in this episode of Turpentine VC.
In just under a decade, Susa has become one of the best seed firms in the industry: their $25M Fund I famously invested in Flexport and Robinhood. Now, ten years later, they’re taking all their learnings and relaunching the firm with a new vision and strategy, which Susa General Partner, Chad Byers, tells us about in this episode of Turpentine VC. If you’re looking to improve your sourcing, tracking, and due diligence, check out: https://synaptic.com/turpentine
RELATED SHOWS: If you like Turpentine VC, check out our show The Limited Partner with David Weisburd, where David talks to the investors behind the investors: https://www.podpage.com/the-limited-partner/
TIMESTAMPS:
(00:00) Episode Preview
(00:56) How does Susa see themselves within the venture ecosystem?
(01:54) The history and next evolution of Susa Ventures
(8:29) Why Susa isn't becoming multi-stage and the trade-offs of their new vision
(11:59) What does Susa look like 5-10 years from now?
(14:07) Chad's thoughts on Thrive
(15:39) Sponsor: Synaptic
(16:38) On incubations and whether Susa would want to pursue them in the future
(17:47) On LP strategy
(20:31) The trade-offs of investing in platform as a fund
(23:21) The sweet spot of where Susa invests in relation to product-market fit
(26:16) How has Susa thought about partner recruiting?
(29:18) Why doesn't Susa pursue the maximal AUM game?
(33:03) The unique ways Susa adds value to founders
(36:29) How Chad thinks about seeds firms evolving to multistage firms and competing against Sequoia, Founders Fund, etc.
(39:10) Pattern-matching the best founders Chad has backed
(42:18) Chad on Sam Lessin's theory on seed investing
(46:24) Predictions for the next 3-5 years of venture
(48:47) Diving deeper into why Susa decided to double-down to become specialists in seed
(50:15) Thought experiment: how would Chad launch Susa in 2023?
X / TWITTER:
@chadbyers (Chad)
@eriktorenberg (Erik)
@SusaVentures
@TurpentineVC
SPONSORS:
Synaptic unifies over one hundred real-time company performance metrics across alternative datasets like user traffic, employee data, app downloads, product reviews, and more. It’s your all-in-one source for alternative data that helps you make better investment decisions. To learn how Synaptic can improve your sourcing, tracking, and due diligence, visit https://synaptic.com/turpentine
