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

This week on Turpentine VC, we’re sharing Erik Torenberg’s interview with Susa Venture’s Chad Byers, which originally aired in September 2023. Chad discusses the firm's journey, their fund structures, and their vision for specialized seed investing, emphasizing the importance of focus, discipline, and adapting to market dynamics.

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LINKS:
Fund V Announcement:   / chadabyers_dear-founders-were-excited-to-a...  

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X / TWITTER:
@chadbyers
@SusaVentures
@eriktorenberg
@TurpentineVC

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TIMESTAMPS:
(00:00) Intro
(01:52) Chad Byers on Susa Ventures' evolution
(03:27) Susa Ventures' fundraising journey
(05:24) Strategic shifts and new directions
(06:33) The importance of brand clarity
(07:37) Operational independence and network effects
(07:58) Managing different brands
(08:49) The case for specialized funds
(10:44) LP perspectives and fund structures
(12:02) Future vision for Susa Ventures
(14:09) Investment strategies and market dynamics
(15:44) Sponsors: Oracle | Squad
(17:51) Incubations and early stage investments
(25:57) Challenges in early stage venture capital
(27:34) Recruiting and qualities of a Susa partner
(28:15) The importance of community embeddedness
(28:30) Specialization in early stage venture
(29:37) The competitive nature of venture capital
(30:49) Fundraising strategies and firm identity
(34:20) Value creation and investor involvement
(37:47) Challenges and strategies in seed funding
(47:43) Predictions for the future of venture capital
(50:06) Wrap