"Turpentine VC" | Venture Capital and Investing

E83: Chad Byers on Why Susa is a Purpose-Built Seed Specialist [Classic Interview]

Mar 25, 2025
Chad Byers, co-founder and general partner at Susa Ventures, dives into the firm's evolution from a $25M fund to a major player in seed-stage investing. He discusses the importance of branding and tailored strategies, exploring how they foster founder autonomy through incubated projects. The conversation touches on the dynamics of fund sizes, the need for genuine investor support, and the shifting landscape of venture capital towards sustainability and profitability. Byers emphasizes the unique approach Susa takes to enhance startup development.
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ANECDOTE

Susa's Leadership and Fund Structure

  • Chad Byers leads Susa Ventures, Leo leads Humbo Ventures, and Seth leads Kivu Ventures.
  • Each fund focuses on different investment strategies, allowing for specialized expertise.
INSIGHT

Why Separate Brands?

  • Multi-stage firms can confuse founders and offer less specialized investment committees.
  • Susa Ventures prioritizes founder experience and expertise by creating separate brands.
INSIGHT

LP Choice and Fund Structure

  • Susa Ventures' structure allows LPs to choose specific investment strategies.
  • This approach offers more choice and flexibility compared to stapled funds.
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