Susa Ventures, a San Francisco, CA-based early stage venture capital firm, closed two funds totalling $140m.
– Susa Ventures III, a $90M seed stage fund, including a small $2m vehicle with no fees and no carry, which includes 40 existing backed founders as limited partners, and
– a $50M opportunity fund to continue to back companies in their later-stage rounds.
Led by Alex Czarnecki, Natalie Arora, Leo Polovets, Rachel Coffman, Seth Berman, Chad Byers, the firm invests in businesses with a strong tech foundation, such as proprietary data, economies of scale and/or network effects. Incepted in 2013, the firm has backed leading startups, including Robinhood, Flexport, Andela and Expanse. It has partnered with 90 companies to date.
Collectively, portfolio companies have an aggregate value of more than $12B, employ 4,000 people, and generate annual revenue of over $2B.