Thrive Through Connection Going From Operator to Funder with Leo Polovets, General Partner at Humba Ventures
Jun 3, 2025
Leo Polovets, General Partner at Humba Ventures and co-founder of Susa Ventures, discusses his transition from a software engineer to a venture capital investor. He shares insights on the importance of building relationships before fundraising and emphasizes the need for effective storytelling to attract investors. Leo explains how Humba’s small fund size supports deeper engagement with startups and highlights common pitch deck mistakes founders make. His experience with investor updates also unveils strategic tips for both raising capital and maintaining traction.
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Venture Wins For Breadth Over Building
- Leo prefers venture because it lets him meet experts and learn across many fields rather than just building code.
- He'd miss that breadth and connection more than the act of writing code if he returned to operating.
Why Sub-Brands Make Firms Clearer
- Creating sub-brands helps founders know which team to talk to and builds sector-specific credibility.
- Sub-funds enable different check sizes, processes, and clearer marketing for niche sectors like deep tech.
Grow Fund Size With Reputation
- Start small and grow your fund size in lockstep with your reputation to avoid adverse selection on deals.
- Raise larger funds only after you can competitively deploy bigger checks without compromising deal quality.