Susa Ventures is a San Francisco–based early-stage venture capital firm that partners with founders as an early institutional backer (pre-seed and seed) and stays engaged long-term through follow-on rounds via separate opportunity funds.

Pre-Seed / Seed: Primary focus — Susa often invests in pre-seed and seed rounds, aiming to be the first institutional capital.
Series A & Beyond: Participates indirectly later via its opportunity/continuation funds backing growth in existing portfolio companies.

Typical Check Size: Historically $500K–$2M for seed entry, and more with later staged vehicles.
Equity Taken:
• Susa Ventures does not publish a fixed equity percentage it always takes; equity terms are negotiated per deal based on valuation, round size, and co-investor mix (standard VC practice).
• Industry context & founder expectations: At the seed stage where Susa leads or co-leads with checks around ~$1M–$2M, early institutional investors often capture meaningful minority stakes (~7%–15%) in that round — the specific percentage depends on valuation and competitive dynamics during pricing. (This range reflects typical early VC positioning rather than an explicit Susa target.)
• Susa’s “founder-first” approach emphasizes helping founders retain more equity over time and it’s known not to take control or vote founders out, a philosophy that aligns with moderate dilution rather than aggressive control.
Equity Structure: Mostly priced preferred equity at seed; occasionally capital via SAFEs/convertibles depending on round structure.
Governance: Susa generally avoids board seats by default but will negotiate governance rights appropriate to participation and stage.

Submission Method: Startups engage via warm intros or direct outreach through Susa’s website or partner network; founder referrals help but aren’t strictly required. 
Focus on founders with strong data-centric, defensible business models across software, fintech, health tech, supply chain, and AI.

Sector Focus: Broad tech, including software, B2B SaaS, fintech, AI, logistics/supply chain, and healthcare.
Geography: Primarily U.S. companies, with international deals occasionally.
Stage: Pre-seed and seed, occasionally pre-Series A follow-on. 
Company Profile: Founders with differentiated tech, early traction, and defensible market positions.

Initial Review: Evaluate team, tech, and defensibility thesis fit.
 Partner Diligence: Deep assessment of market, traction, and product potential.
 Term Negotiation: Valuation and governance terms agreed based on stage and co-investor participation.
 Close & Support: Investment executed with ongoing portfolio servicing (ops and community support).

Strategic Capital: Seed/early funding to reach product-market fit and accelerate growth. 
 Network & Support: Access to community of founders, follow-on capital support, and sharing of operational insight. 
 Follow-On Access: Opportunity to participate in later rounds through Susa’s opportunity vehicles.