SUSA VENTURES MANAGEMENT, LLC

Thesis

Susa Ventures is a venture capital firm founded in 2013 and based in San Francisco, California. The firm's investment thesis centers on identifying and backing founders with unique perspectives and deep technical expertise who are building category-defining companies. While historically diversified, Susa Ventures has increasingly concentrated on AI-driven innovation across various verticals, including alternative AI architectures, custom software and GenAI, AI research assistants, and tech-bio. They also have a strong focus on fintech, digital health, tech-bio, logistics and supply chain, enterprise software (including developer tools and technical products), consumer applications, energy (particularly clean energy and infrastructure), and frontier tech. Susa Ventures primarily invests at the pre-seed and seed stages, with typical check sizes ranging from $1 million to $5 million, from pre-idea through early product-market fit. They emphasize building independent conviction and do not typically take board seats, allowing founders to maintain control. The firm operates exclusively within the United States. Susa Ventures has raised substantial capital, with its latest fund, Susa Ventures V, closing at $175 million in March 2025. Previous funds include Susa Ventures IV ($125 million seed-stage) and Susa Ventures Opportunities II ($250 million for Series B and C rounds). One source indicates Susa Ventures LP has approximately $32.1 million in assets.

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