Leo Polovets @lpolovets General Partner @SusaVentures (seed investor in @RobinhoodApp & @Flexport). Before: @Caltech → 2nd non-founding engineer @LinkedIn → @Google → @Factual. Jul. 01, 2019 2 min read

1/ I couldn't be more excited to announce @SusaVentures Fund III. The customary thing to say is that fundraising isn't a true milestone and that we're going to get back to work. I'm going to momentarity ignore that custom. It's okay to celebrate things :).

2/ Some history: we started @SusaVentures in 2013. We were a team of friends that hadn't directly worked together and hadn't worked in venture capital. We began investing as an angel group, loved working w/each other and w/amazing founders, and decided to formally start a fund.

3/ Our first fund was a slog both to raise and to invest. Fundraising took almost a year and many, many meetings, and getting on founders' and co-investors' radars was very hard because we were relatively unknown and didn't have a track record.

4/ We spent the first 3 years doing everything we could to get founders to talk to us and accept our investment offers, then worked our butts off to help after we invested. My 2013 inbox is filled with 2am email threads about website copy edits and recruiting tips. :)

5/ We were also very fortunate to meet the founders of companies like @Robinhood, @Flexport, & @Andela during this period. Investing in those companies (and many others that are not as well known *yet*) helped us slowly build a reputation & a wonderful community of Susa founders.

6/ We raised our second fund off of this momentum in early 2016, and we've spent the past three years doubling our team, opening up our first office (10x better than working out of coffee shops!), and continuing to grow the @SusaVentures community.

7/ The companies in the second fund are still very young, but many, like @GetSTORD and @NewfrontHQ, are already breaking out. We think people will hear about many more of these companies over the next few years. :)

8/ We're now launching Fund III. It's $90m and will allow us to write $1m checks and have even more resources to support the companies we partner with. We're thrilled to work w/such a wonderful group of founders, co-investors, & LPs. I'm so proud of how far we've come since 2013.

9/ Anyway, fundraising isn't a true milestone, so it's time to get back to work.

Onward!


You can follow @lpolovets.



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