The Full Ratchet: Vc | Venture Capital | Angel Investors | Startup Investing | Fundraising | Crowdfunding | Pitch | Private E

Leo Polovets of Susa Ventures joins Nick to discuss Raising Fund III, A Framework to De-risk Your Startup, & When to Explore vs. Exploit. In this episode, we cover: Give us an update on your investments at Susa since we last chatted? How has the thesis at Susa evolved over the past couple of years? Do each of the GPs at Susa have specialty areas of focus? This year Susa closed on 2 new funds - Susa III a $90M early stage fund, along with your first opportunity fund to which investors committed $50M. What was the elevator pitch to LPs and what worked well in the first two funds that resonated with LPs, leading to the successful raise? What would you have done differently in Fund I and Fund II if you could go back? What it takes to raise a Series A... often founders will have a singular focus on the vanity metrics -- they assume if they hit $2M in ARR they'll attract the A round at an attractive multiple from Tier 1 investors. But, we've seen this play out and it's not all that's required. Why is a singula