How Trust Ventures Unlocks Value in Regulated Markets, with Salen Churi

Sep 11, 2025

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What if the biggest venture opportunities aren’t in the next SaaS tool, but in the markets everyone avoids?

Salen Churi, founder and general partner at Trust Ventures, is proving that regulation-heavy industries hold the keys to outsize alpha. A former law professor turned VC, Salen helps startups turn red tape into competitive edge.

Here’s a glimpse of what you’ll learn:

00:40 Introduction to Driving Alpha Podcast
01:58 Salen Churi’s Background and Family History
03:30 The Intersection of Innovation and Regulation
05:41 Founding Trust Ventures
12:29 Case Studies: Oklo and ICON
17:05 Navigating Regulatory Challenges
22:03 Investing in Regulatory Risk
25:27 Unique Approach to Venture Capital
26:35 Policy Partner and Regulatory Strategy
26:57 Investment Strategy in Nuclear and Competitive Markets
28:46 Innovative Solutions in the Energy Sector
30:44 The Role of Batteries in Grid Management
38:46 AI and Regulatory Challenges
43:48 Future Vision and Regulatory Changes
46:28 The Importance of Tackling Regulatory Problems

In this episode,

Salen Churi breaks down how Trust Ventures consistently finds billion-dollar potential hiding in plain sight, by backing companies that challenge outdated regulatory systems. From modular nuclear energy to 3D-printed homes and AI-driven battery grids, Trust helps founders reshape broken systems and unlock massive, underserved markets.

Salen explains why regulation isn't a red flag, it's often the moat. He shares stories from Trust's early bets like Oklo, ICON, and Base Power, each tackling entrenched incumbents with bold tech and smart policy strategy. He also dives into how Trust evaluates regulatory risk, why they're not afraid of government-adjacent challenges, and how their model as a “policy partner” is turning underdog startups into market leaders.

Whether you're a founder eyeing a legacy industry or a VC seeking differentiated returns, this episode is a playbook for turning policy gridlock into venture-scale alpha.