20VC: Why Raising A Fund Is Like Raising A $25m Seed Round with No Product & Why Not All LP Money Is Equal with Chad Byers, General Partner @ Susa Ventures

Chad Byers is a General Partner @ Susa Ventures and very exciting news, Susa last week announced the raise of Susa II, a new $50m fund, testament to the quality of fund 1 which included the likes of former guests Lyst, RobinHood, LendUp and many more incredible companies. As for Chad, he focuses on investments in enterprise software, fintech, and healthcare. Prior to Susa, Chad spent time in various marketing and product management roles. As well as being a prolific angel investor in over 30+ companies.

In Today’s Episode You Will Learn:

1.) How Chad made the transition from angel investor to General Partner @ Susa?

2.) How was the fundraise with Susa 1? How was the fundraise for Susa II? How did the funding rounds change for each fund?

3.) How does Chad assess LP fit? Is all LP money not equal? What does Chad look in his LPs?

4.) Question from Michael Kim @ Cendana: How does Chad look to establish the mindshare with entrepreneurs and other VCs for Susa in today’s competitive environment?

5.) How does Chad approach the reserve structure of Susa fund II? How did Chad come tot hat conclusion as the optimal amount for follow on?

Items Mentioned In Today’s Show:

Chad’s Fave Blog and Newsletter: Coding VC, Bill Gurley: Above The Crowd

Chad’s Fave Book: When Breathe Becomes Air

Chad’s Most Recent Investment: Modsy

As always you can follow Harry, The Twenty Minute VC and Chad on Twitter here!

Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC.