Venture with Grace Ross Fubini, XYZ Ventures MP on Anduril, Seed Bets & Scaling Funds
Nov 13, 2025
Ross Fubini, Managing Partner at XYZ Ventures, shares his journey from founder to top venture investor with insights into his extensive background in public-sector tech. He dives into how his engineering roots shaped his investment strategies and discusses the significance of early bets on companies like Anduril and Verkada. Ross reveals his views on sourcing successful founders, navigating public-sector markets, and the evolving role of AI in go-to-market strategies, while advocating for authentic pivots based on market trends.
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Early Netscape Government Roots
- Ross started his career at Netscape working on security servers sold to the government.
- That early exposure later informed XYZ's public sector focus and investments like Anduril.
First Fund Needs A Unique Story
- Raising a first VC fund is the hardest step and depends on a unique, defensible story.
- Ross used his Palantir connections as a secret advantage to attract LPs and founders.
Structure Companies To Sell To Government
- Build a public-sector company with three pillars: mission, operator understanding, and a contract vehicle.
- Align product development with operators and capture processes to win government contracts.
