Susa Ventures - Fund IV - VC Pitch Deck Examples
1 like22,187 views
Susa Ventures is an early-stage venture capital firm dedicated to empowering entrepreneurs since 2013, drawing inspiration from the Susa mountain gorilla family which symbolizes community and collaboration. They are raising funds including a $100 million seed fund and a $200 million opportunity fund to invest in high-potential companies, with a strong focus on increasing diversity within the venture capital industry through their venture fellows program. Susa Ventures emphasizes a track record of successful investments, aiming to support top-performing seed deals and follow-on investments to maximize returns.
Susa Ventures - Fund IV - VC Pitch Deck Examples
- 1. Susa Ventures IV & Susa Opportunities II Q1 2021
- 2. Susa Ventures is an early stage venture capital firm started in 2013, investing in a growing family of dreamers and builders. We believe that entrepreneurs are the lifeblood of progress, and we exist to help them realize their visions for a better world. Rachel Natalie Seth Leo Chad Courtney
- 3. At Susa, we practice VC as a Family Susa Ventures is named after a mountain gorilla family in Rwanda called the Susa Family. These gorillas are extraordinary, as they were one of the first species on earth to organize into strong family groups. This idea of bringing together an exceptional group of individuals to form a strong family and community was the genesis behind the fund.
- 4. CHAD BYERS GP, Co-founder Led investments in Robinhood, Stord, & Policygenius SETH BERMAN GP, Co-founder Led investments in Flexport, Viz AI, Expanse, & Fast LEO POLOVETS GP, Co-founder Led investments in Outlier, Pex, Scalyr, & Stedi Investment Team COURTNEY BUIE LIPKIN Partner Prev. Investor at First Round Capital Led investments in Nova Credit, Lightyear MISHA GORDON-ROWE Investor Prev Operator: Funding Circle (IPO 2018) Sourced investments in Higo, Okra, Flock MICHAEL STOPPELMAN Senior Advisor, Technical Former CTO, Yelp
- 5. NATALIE ARORA Head of Operations Operator with 10 years experience at 3 start-ups, incl Eat Just RACHEL COFFMAN EA & Operations Accountant with expertise in fundraising and IR Proven operators, managers and leaders Experience with investor relations, fundraising, project management Operations Team Operations Team
- 6. A six month training program for aspiring venture investors. The goal of the Venture Fellows Program is to build a clear and transparent pathway into the VC industry for aspiring investors, increase diversity and access in the industry, and develop next-gen VCs through the fellowship. 13 Fellows receive mentorship from the Susa partnership and other top VCs, participate in course curriculum, and participate in Susa’s investment processes to get hands-on experience. Mentors are GPs at firms including Benchmark, Kleiner Perkins, Precursor, Sequoia and USV. Our goal is to make this program representative of the diversity of people VC-backed companies serve. And in September 2020, we added our first class of 13 Susa Venture Fellows to our team DERICK Physician & Operator VP of Growth at Viz.ai Harvard-trained Physician Stanford MBA A few of our Venture Fellows EMMA ML Engineer Facebook AI Research Google Deepmind, JPL CalTech Student MANJI Product Manager PM, Houzz PM, Microsoft CS at UW-Madison
- 7. Susa Ops | The Susa Founder Experience Family Dinners Mountain Tech Summit Susa Bootcamps Onboarding swag Holiday Giving FOUNDER NPS 96
- 8. PROPRIETARY DATA NETWORK EFFECTS ECONOMIES OF SCALE We invest in businesses building compounding moats, including:
- 9. we’re raising Two New Funds $100M seed fund & $200M opportunity fund 1 2
- 10. SUSA I 2013 Vintage We have an Exceptional Track Record across our seed funds, our first follow-on fund, and SPVs together representing $395M managed $25M Fund ##% of Capital Called #.##x MOIC / #.##x TVPI ##% Gross IRR SUSA II 2016 Vintage $50M Fund ##% of Capital Called #.##x MOIC / #.##x TVPI ##% Gross IRR SUSA III 2019 Vintage $90M Fund ##% of Capital Called #.##x MOIC / #.##x TVPI ##% Gross IRR SUSA Opportunity Fund I 2019 Vintage $50M Fund ##% of Capital Called #.##x MOIC / #.##x TVPI ##% Gross IRR Partner SPVs 2014-present ## SPVs $##M deployed $##M average SPV size Series B, C, D SPVs include: Robinhood, Flexport, Nest, Intercom S E E D TOP 1% Based on benchmarks for 2013 vintage G R O W T H Unaudited as of 2/28/2021; at current secondary market prices for Robinhood and Flexport, Susa I is at ##x MOIC and ##% Gross IRR
- 11. Do pro-rata alongside the top Series A funds SEED SERIES B SERIES A Source and win the best seed stage deals Lead or co-lead Series Bs in best performing companies A barbell approach is the winning strategy for Susa SUSA IV SUSA OPP II
- 12. CALLED CAPITAL TOTAL VALUE $##M ##%* $###M MOIC/TVPI #.##/ #.## DPI #.## ##%, ##% GROSS IRR, NET IRR Susa I | $25M, 2013 Vintage Top seed-stage fund in US; enabled Susa to become a top seed-stage brand in under 5 years INITIAL INVESTMENT VALUE AT SECONDARY PRICE* COST BASIS Aug 2013 $#.#M $#.#M Mar 2014 $#.#M $#.#M Dec 2014 $#.#M $#.#M May 2015 $#.#M $#.#M Sept 2014 $#.#M $#.#M Apr 2015 $#.#M $#.#M Dec 2016 $#.#M $#.#M Unaudited as of 2/28/2021; *Calculated using Robinhood and Flexport’s secondary market prices as of 2/28/2021 $#.#M $#.#M $#.#M $#.#M $#.#M $#.#M $#.#M CURRENT VALUE
- 13. CALLED CAPITAL TOTAL VALUE $##M ##%* $###M MOIC/TVPI #.##/ #.## DPI #.## ##%, ##% GROSS IRR, NET IRR Susa II | $50M, 2016 Vintage Susa II trending similarly to Susa I, with 5+ high potential companies that can be fund-returners INITIAL INVESTMENT DATE CURRENT VALUE COST BASIS Sept 2016 $#.#M $#.#M Apr 2017 $#.#M $#.#M Feb 2017 $#.#M $#.#M Apr 2018 $#.#M $#.#M CURRENT ROUND CURRENT ROUND LEAD Series C Series C Series B Series C June 2016 $#.#M $#.#M Series B Aug 2017 $#.#M $#.#M Series B Unaudited as of 2/28/2021 Oct 2018 $#.#M $#.#M Series B
- 14. Susa III | $90M, 2019 Vintage Though Susa III only closed in April 2019, we’re excited about some early movers in the portfolio CALLED CAPITAL TOTAL VALUE $##M ##%* $##M MOIC/TVPI #.##/ #.## INITIAL INVESTMENT DATE July 2020 Feb 2020 Nov 2019 CURRENT ROUND CURRENT ROUND LEAD Series A Series B Dec 2019 Series A Nov 2019 Series A June 2019 Note Mar 2020 Series A Series A Oct 2019 Series A
- 15. AVERAGE CHECK SIZE FUND SIZE 100 $ M I L L I O N RESERVE RATIO $ 1.25 M I L L I O N 1:1 For Pro Rata in Best Companies Target Number of Investments 40 Susa IV will be a $100M seed fund following the same strategy as Susa I, II, & III
- 16. Through our seed funds, we’ve built a large portfolio of great businesses
- 17. SUSA BACKED COMPANIES AGGREGATE VALUE OF SUSA COMPANIES 7K CAPITAL RAISED BY SUSA COMPANIES EMPLOYED BY SUSA COMPANIES 115+ 1 $ B+ 9 $ B+ 5 The Susa Family has created $19B+ in enterprise value
- 18. 2.5x THAN THE AVERAGE SEED FUND HIGHER FOLLOW ON RATE Pitchbook, aggregated data from 2013-2018, as of Q3 2019. *CB Insights Follow On Rates Seed Stage Micro VCs 70 OF SUSA COMPANIES HAVE RAISED A SERIES A Analysis of Susa I, vintage 2013. Our seed companies raise follow-on capital at an extremely high rate NEARLY %
- 19. Flexport, Newfront, People Data Labs, Open, Stord Viz, Stord Viz Stedi, Casetext Whisper.ai, Robinhood Pachyderm Robinhood, Fast Rigetti, Mux Expanse, Robinhood Andela Lyst, Mux SERIES A ROUNDS BY TOP TIER FIRMS OVER Runa HR, Robinhood 50% And the best Series A funds lead these follow-investments CrowdAI MycoWorks Robinhood, Modern Animal, Stedi
- 20. NOW IS THE TIME To double-down on our best- performing early stage companies
- 21. SUSA I SUSA II SUSA III Note: Unaudited financials as of 9/30/19 for core checks only Robinhood Lyst Casetext LendUp Periscope Vurb Namo Media Percolata Frontback Zephyr Health Whisper.sh Flexport Rockbot Rigetti Hodinkee Andela Scalyr Bonafide Declara PipelineDB Standard Treasury Move Loot People.Co 2014 2015 Expanse Pachyderm Mashgin Bright Policygenius Outlier Plan Human Interest ScopeAR Bento Labs FoxCommerce SimpleLegal TigerGraph Modsy Mux TrendMD Parachute Home CrowdAI Troops Viz Drivezy Merit Clutch Remedy ROAM Newfront Aquera WorkRamp Interviewing.io FundRocket Tortuga Guilded Whisper.ai Robin Care Chatdesk Awayco 2017 2018 2020 Elliot People Data Labs Stedi Juvena Persephone Stord Treasury Prime Smile Identity Naborly Avro Cortex Health Intricately Fourpost AMI HYAS Pex Unioncrate Spring Discovery Sundae MycoWorks Modern Animal Humble Dot Locale Runa HR Cocoon Fuzzbuzz HealthTensor Nelo Samacare Wallmine Counterpart Honeybee Specto VeriSIM Life Hallow Gentem Fast Open Cottage Miso Chapter Paylode Cascade Memo Medallion Heat Watch Cerebrae Spiketrap Lightyear LiveControl Cuttle OfficeHours Portex Flannel 2013 2016 2019 While we have a very high hit rate on our seed investments… $500M+ valuation $150M+ valuation Fund I Fund II Fund II Fund III
- 22. Note: Unaudited financials as of 11/13/20 ...Ultimately 20% of Susa seed investments drive 90% of returns Analysis of Susa Ventures I
- 23. ...Ultimately 20% of Susa seed investments drive 90% of returns Analysis of Susa Ventures II Note: Unaudited financials as of 11/13/20
- 24. So we’re also raising a $200M Opportunity Fund to double-down on our best seed investments by leading/co-leading Series Bs and Cs AVERAGE CHECK SIZE FUND SIZE 200 $ M I L L I O N RESERVE $ 10 M I L L I O N 25% For Pro Rata in Best Companies Target Number of Investments 15
- 25. How do we know this is a good idea? We back-tested this strategy with every Series B round in a Susa company when the Series A was led by a top firm (Unrealized) Gain Gross, Net $###M, $###M MOIC #.#x TVPI #.#x Hypothetical Opportunity Fund ($M), Susa core seed investments only Note: Most of the Series Bs are recent and many are still held at cost (e.g. X, Y, and Z) $###M $###M
- 26. Hypothetical Opportunity Fund ($M), Susa SPV investments only How do we know this is a good idea? We back-tested this strategy with actual SPVs that our GPs raised for growth deals, and we would have produced a #.#x MOIC (Unrealized) Gain Gross, Net $###M, $###M MOIC #.#x TVPI #.#x $###M $###M
- 27. We’ve shown we have access and can get allocation in great mid-stage deals
- 28. We invested $##M-$##M per deal through SPVs in growth rounds for great companies outside of Susa’s portfolio $##M $##M $##M SPV Size Company $##M $##M
- 29. And we raised our first $50M Opportunity Fund I in 2019, which we’ve deployed it quickly in great companies CALLED CAPITAL ##% INITIAL INVESTMENT DATE ROUND INVESTMENT AMOUNT May 2019 Series C $#.#M CO-INVESTORS IN ROUND Unaudited as of 2/28/2021 Aug 2019 Series B, C $#.#M Sept 2019 Series C $#.#M Dec 2019 Series D $#.#M Aug 2020 Series D $#.#M Feb 2020 Series B $#.#M Aug 2020 Series B $#.#M July 2020 Series C $#.#M Oct 2020 Series E $#.#M Nov 2020 Series B $#.#M New investments to Susa Nov 2020 Series B, C $#.#M Dec 2020 Series C $#.#M Aug 2020 Series B $#.#M
- 30. Summary Terms & Operational Overview
- 31. Target Size Susa Ventures IV: $100M Susa Opportunities II: $200M Simultaneous commitments to both funds, 1:2 ratio Term 10 years Plus two one year extensions Contact Seth Berman [email protected] Chad Byers [email protected] Leo Polovets [email protected] SUMMARY TERMS
- 32. Legal Banking Fund Administrator Accounting OPERATIONAL OVERVIEW
- 33. Thank you