Susa Ventures

Overview

Susa Ventures is a seed-stage venture capital firm founded in 2013, based in San Francisco, that invests in pre-seed and seed-stage startups, particularly those with data-focused or technology-driven solutions in sectors like fintech, enterprise software, logistics, healthcare, and consumer. It has partnered with over 100 startups, with 10% becoming unicorns, and provides capital up to $5M along with customers, community, and talent support. The firm manages multiple funds, including Susa Ventures V closed in March 2025, and maintains a portfolio featuring companies such as Robinhood, Flexport, Stord, and Stedi.¹²³⁴

History

Susa Ventures was founded in 2013 by Chad Byers, Leo Polovets, and Seth Berman, who are entrepreneurs and former operators sharing a belief in supporting founders to realize visions for progress. The firm has since raised multiple funds, with 13 closed funds as of recent records, including Susa Ventures V in March 2025. It has invested in over 100 early-stage companies, achieving notable exits like Casetext acquired by Thomson Reuters for $650M, and unicorns including Robinhood and Flexport.¹²⁴⁶

Notable Products

• Susa Ventures V - Latest closed fund in March 2025 targeting early-stage tech investments.
• Investment in Robinhood - Early investment in the fintech unicorn brokerage platform.
• Investment in Flexport - Seed investment in the logistics and supply chain unicorn.
• Investment in Casetext - Investment in AI legal platform acquired by Thomson Reuters for $650M.
• Investment in Stord - Investment in supply chain and logistics startup led by Chad Byers.

Reputation

Susa Ventures is regarded by founders and professionals as a hands-on early-stage investor providing not just capital but also customers, community, and talent, with a track record of unicorn successes like Robinhood and Flexport. Enthusiasts note the partners' operational backgrounds in sectors such as fintech, enterprise software, and logistics, enabling targeted expertise. Some sources list inconsistent employee counts, but it operates as a small team of partners.¹²³