Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.

Firms / Susa Ventures Management, LLC

Susa Ventures Management, LLC

Multi-stage venture firmSan Francisco, CAsusaventures.comSEC venture capital fund adviser

both early and growth/opportunity families, reported GAV $985M

Importance
42
elevated
Active deployment
8
low
Emerging
0
low
Completeness
56
elevated
Freshness
100
high
Research priority
11
low
Identity and regulatory footprint
Headquarters
San Francisco, CAadviserinfo.sec.gov
Office address
660 YORK STREET, SUITE 201, San Francisco, CA, 94110adviserinfo.sec.gov
Business phone
510-828-0359adviserinfo.sec.gov
Website
http://www.susaventures.com
SEC adviser type
exempt reporting adviseradviserinfo.sec.gov
SEC exemption claimed
venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
Latest Form ADV
May 27, 2026
Private funds reported
20 (20 venture capital funds)adviserinfo.sec.gov
Private fund gross assets
$1.3Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
business phone
650-521-4278adviserinfo.sec.govpublished by the subject
business phone
510-828-0359adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
2 observed deals
Stated (the firm’s website)
Sectors
not stated or not yet read
Stages
not stated or not yet read
Geography
not stated
Check size
not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 100%
lead rate 50%follow-on rate 0%new logos, 12 months 2
Funds and vehicles
19 reported, 2 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Susa Opportunities II, L.P.Opportunity fund2022 adv first reportedActive deployment$225M
Mar 14, 2024
148$0
of $250M
Jun 4, 2021
Susa Ventures IV, L.P.Fund2022 adv first reportedActive deployment$114M
Mar 14, 2024
147$0
of $125M
Jun 4, 2021
Susa Ventures Stord1, LLCFund2022 form d first saleActive deployment$9.2M
Mar 14, 2024
8$9.3M
of $9.3M
May 31, 2022
Susa Opportunities Founders II, L.P.Opportunity fund2021 form d first saleMature$17.9M
Mar 14, 2024
92$17.8M
of $17.8M
Aug 25, 2021
Humba I, L.P.Fund2021 form d first saleMature$9.4M
Mar 14, 2024
2$7.5M
of $7.5M
Jan 7, 2022
Susa Ventures Founders IV, L.P.Fund2021 form d first saleMature$7.7M
Mar 14, 2024
92$6.9M
of $6.9M
Aug 25, 2021
Susa Ventures Fp3 Ff, LLCFund2020 adv first reportedMature$20.0M
Mar 14, 2024
2unknownunknown
Susa Ventures Fp2, LLCFund2020 adv first reportedMature$18.5M
Mar 14, 2024
18unknownunknown
Susa Ventures Fp3, LLCFund2020 adv first reportedMature$15.1M
Mar 14, 2024
17unknownunknown
Susa Ventures Fp2 Ff, LLCFund2020 adv first reportedMature$5.3M
Mar 14, 2024
23unknownunknown
Susa Ventures Founders III, L.P.Fund2020 adv first reportedMature$4.5M
Mar 14, 2024
43$0
of $3.0M
Apr 10, 2019
Susa Ventures Fp1, LLCFund2020 adv first reportedMature$3.5M
Mar 14, 2024
8unknownunknown
Susa Ventures III, L.P.Fund2019 adv first reportedMature$184M
Mar 14, 2024
64$0
of $90.0M
Mar 1, 2019
Susa Opportunities I, L.P.Opportunity fund2019 adv first reportedMature$89.5M
Mar 14, 2024
47$0
of $50.0M
Mar 1, 2019
Susa Ventures II, LPFund2017 adv first reportedHarvest$180M
Mar 14, 2024
71$0
of $50.0M
Jan 28, 2016
Susa Ventures II Partners LPFund2017 adv first reportedHarvest$2.9M
Mar 14, 2024
6$0
of $1.0M
Jan 29, 2016
Susa Ventures LPFundunknownUnknown$70.5M
Mar 14, 2024
75$0
of $25.0M
Oct 31, 2013
Susa Ventures Affiliates LLCFeeder or parallelunknownUnknown$8.1M
Mar 14, 2024
4unknownunknown
Susa Ventures V, L.P.FundunknownUnknownunknownunknown$0
of $175M
Apr 4, 2024
Susa Ventures Lu1Fund2020 adv first reportedWound down$26.3M
Mar 29, 2022
11unknownunknown
Susa Capital Management, LLCFeeder or parallelunknownWound down$383,670
Mar 31, 2015
4unknownunknown
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
3 current, 1 departed
Chad Byers
Member · since Apr 1, 2014
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Leo Polovets
Member · since Apr 1, 2014
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Seth Gantz Berman
Member · since Apr 1, 2014
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
1 departed (kept with end dates)
  • EVA Ho · Partner · Apr 1, 2014 to Mar 30, 2018 Inference
Investments on record
2 edges, 2 companies, 0 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Health UniverseFunding roundparticipantunknown$6.0MunknownMar 19, 2026Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS)
As tariffs drive up costs, Cavela AIFunding roundleadunknown$6.6MunknownNov 20, 2025Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS)
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
7 relationships from shared deals, counted for the whole firm
Twelve Below 1 shared · one timeKleiner Perkins 1 shared · one time · they led 1Crossover Ventures 1 shared · one time · we led 1Go Global Ventures 1 shared · one time · we led 1Stripe 1 shared · one time · we led 1Propel Venture Partners Management Co. 1 shared · one time · we led 1Flexport 1 shared · one time · we led 1
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
24 dated events
  1. Mar 29, 2023
    Humba I, L.P. first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $7,352,226
    Fund first reported on Form ADVFundsFactHumba I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  2. Mar 29, 2023
    Susa Ventures Lu1 no longer reported on Form ADV by Susa Ventures Management, LLC
    Fund no longer reportedFundsInferenceSusa Ventures Lu1SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  3. Mar 29, 2023
    Susa Ventures Stord1, LLC first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $9,231,099
    Fund first reported on Form ADVFundsFactSusa Ventures Stord1, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  4. Mar 29, 2022
    Susa Opportunities Founders II, L.P. first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $17,830,376
    Fund first reported on Form ADVFundsFactSusa Opportunities Founders II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  5. Mar 29, 2022
    Susa Ventures Founders IV, L.P. first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $6,915,955
    Fund first reported on Form ADVFundsFactSusa Ventures Founders IV, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  6. Mar 29, 2022
    Susa Ventures IV, L.P. first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $116,008,754
    Fund first reported on Form ADVFundsFactSusa Ventures IV, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  7. Mar 29, 2022
    Susa Opportunities II, L.P. first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $228,646,400
    Fund first reported on Form ADVFundsFactSusa Opportunities II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  8. Mar 26, 2020
    Susa Ventures Fp3, LLC first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $15,110,590
    Fund first reported on Form ADVFundsFactSusa Ventures Fp3, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  9. Mar 26, 2020
    Susa Ventures Founders III, L.P. first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $2,071,011
    Fund first reported on Form ADVFundsFactSusa Ventures Founders III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  10. Mar 26, 2020
    Susa Ventures Fp2, LLC first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $19,820,905
    Fund first reported on Form ADVFundsFactSusa Ventures Fp2, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  11. Mar 26, 2020
    Susa Ventures Lu1 first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $26,251,449
    Fund first reported on Form ADVFundsFactSusa Ventures Lu1SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  12. Mar 26, 2020
    Susa Ventures Fp2 Ff, LLC first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $5,309,735
    Fund first reported on Form ADVFundsFactSusa Ventures Fp2 Ff, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  13. Mar 26, 2020
    Susa Ventures Fp3 Ff, LLC first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $20,000,000
    Fund first reported on Form ADVFundsFactSusa Ventures Fp3 Ff, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  14. Mar 26, 2020
    Susa Ventures Fp1, LLC first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $3,514,771
    Fund first reported on Form ADVFundsFactSusa Ventures Fp1, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  15. Mar 29, 2019
    Susa Ventures III, L.P. first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $87,260,000
    Fund first reported on Form ADVFundsFactSusa Ventures III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  16. Mar 29, 2019
    Susa Opportunities I, L.P. first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $47,845,000
    Fund first reported on Form ADVFundsFactSusa Opportunities I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  17. Mar 30, 2018
    EVA Ho (Partner) no longer on Schedule A of Susa Ventures
    Person leftPeopleInferenceEVA HoSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  18. Mar 3, 2017
    Susa Ventures II Partners LP first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $813,577
    Fund first reported on Form ADVFundsFactSusa Ventures II Partners LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  19. Mar 3, 2017
    Susa Ventures II, LP first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $49,099,148
    Fund first reported on Form ADVFundsFactSusa Ventures II, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  20. Mar 30, 2016
    Susa Capital Management, LLC no longer reported on Form ADV by Susa Ventures
    Fund no longer reportedFundsInferenceSusa Capital Management, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  21. Dec 8, 2014
    Susa Ventures LP first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $9,915,868
    Fund first reported on Form ADVFundsFactSusa Ventures LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  22. Dec 8, 2014
    Susa Capital Management, LLC first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $239,610
    Fund first reported on Form ADVFundsFactSusa Capital Management, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  23. Dec 8, 2014
    Susa Ventures first filed Form ADV (ERA, venture capital fund adviser exemption)
    First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  24. Dec 8, 2014
    Susa Ventures Affiliates LLC first reported on Form ADV by Susa Ventures (Venture Capital Fund), GAV $869,721
    Fund first reported on Form ADVFundsFactSusa Ventures Affiliates LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
  1. Sep 12, 2026
    Multi-stage venture firm (confirmed, 95%, cls-1)
    both early and growth/opportunity families, reported GAV $985M
Evidence
42 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedvc_exemption,vc_funds_reportedMay 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC exemption claimedventure_capital_fund_adviserMay 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC exemption claimedventure_capital_fund_adviserMar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
SEC adviser typeexempt_reporting_adviserMay 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC adviser typeexempt_reporting_adviserMar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
First Form ADV filing2014-12-08Mar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Adv history loadedadv-hist-1Sep 12, 2026FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Latest Form ADV filing2026-05-27May 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Latest Form ADV filing2024-03-14Mar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
SEC statusERA - ActiveMay 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC status effective2014-12-08May 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Venture share of reported funds1Mar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Business phone510-828-0359May 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Business phone650-521-4278Mar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
HeadquartersSan Francisco, CAMay 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
HeadquartersSan Francisco, CAMar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Office address660 YORK STREET, SUITE 201, San Francisco, CA, 94110May 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Office address660 YORK STREET, SUITE 201, San Francisco, CA, 94110Mar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Legal formLimited Liability CompanyMay 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Legal formLimited Liability CompanyMar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private funds reported20May 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Private funds reported18Mar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private fund gross assets (reported)$1.3BMay 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Private fund gross assets (reported)$985MMar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Venture funds reported20May 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Venture funds reported18Mar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Websitehttp://www.susaventures.comMay 27, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
WebsiteHTTP://WWW.SUSAVENTURES.COMMar 14, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Site titleSusa Ventures
“title tag”
Sep 17, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Site titleSusa Ventures
“title tag”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Site titleSusa Ventures
“title tag”
Sep 15, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)