Susa Ventures

Susa Ventures is a purpose-built seed specialist founded in 2013 and based in San Francisco. The firm invests $500k–$5m at the pre-seed and seed stage in software companies building compounding moats — defensibility that grows over time through proprietary data, network effects, or economies of scale. Susa is sector-agnostic but focuses primarily on fintech, healthcare, logistics/supply chain, and enterprise software, with a strong conviction that AI is underhyped. Each partner invests in just 2–3 companies per year, and the firm has never voted a founder out of their business in 12+ years. Susa's track record shows ~10% of Fund I and II companies became unicorns — roughly 10x the industry average — and Susa-backed companies raise Series A rounds at ~2x higher valuations than peers. The firm manages capital from US-based institutions including non-profit foundations, education endowments, and leading healthcare providers, and uses a two-fund structure (seed fund + opportunity fund) to back portfolio companies from seed through IPO.