Susa Ventures Management, LLC
Multi-stage venture firm, based in San Francisco, California, reporting $1.3B of fund assets on its funds' Form ADV filings.
Composed from this organization's classification, location and filed figures.
4 additional co-investors and affiliates, 18 additional investments, funds and LPs, 21 events, 2 verified contacts (2 firm phone)
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Nothing material in the last 180 days. Last change: 19 Mar 2026, 2 new companies in the last 12 months. Latest round Health Universe round ($6M round) on 19 Mar 2026.
People to know
View all people- MemberWhy: Named with investment responsibilityNo route on file yet
- MemberWhy: Named with investment responsibilityNo route on file yet
- MemberWhy: Named with investment responsibilityNo route on file yet
Relationship network
33 connected entities2 observed roundsrounds 2025 to 2026
From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.
- Sponsor
- Company
- Fund or vehicle
- Person
›How strength and recency are read
Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
How am I connected?
Name your firm, a company or a person, and DFX finds the published routes to Susa Ventures Management, LLC: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.
See how you connect to Susa Ventures Management, LLC
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
2 companies on record, 2 new in 12 months
Investments on record
What these amounts mean“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.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Health Universe | Funding round | participant | unknown | $6.0M | unknown | Mar 19, 2026 | Fact Press release |
| As tariffs drive up costs, Cavela AI | Funding round | lead | unknown | $6.6M | unknown | Nov 20, 2025 | Fact Press release |
Stated thesis versus observed behaviour
- 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
Team
3 current, 1 departed
Decision makers
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
Investment team
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Member
- Member
- Member
1 departed (kept with end dates)
- EVA Ho · Partner · Apr 1, 2014 to Mar 30, 2018 Inference
Contacts
2 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
19 vehicles, 0 LPs disclosed
Funds and vehicles
What these amounts meanGAV 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.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Susa Opportunities II, L.P. | Opportunity fund | 2022 adv first reported | Active deployment | $222M May 27, 2026 | 149 | $0 of $250M | Jun 4, 2021 |
| Susa Ventures IV, L.P. | Fund | 2022 adv first reported | Active deployment | $172M May 27, 2026 | 147 | $0 of $125M | Jun 4, 2021 |
| Susa Ventures Stord1, LLC | Fund | 2022 form d first sale | Active deployment | $9.2M May 27, 2026 | 8 | $9.3M of $9.3M | May 31, 2022 |
Limited partners
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.| Allocator | Type | Fund | Amount | Date | Source |
|---|---|---|---|---|---|
| The Grantham Foundation for the Protection of the Environment | FOUNDATION | Susa Ventures II, LP | $8.5M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
| The Grantham Foundation for the Protection of the Environment | FOUNDATION | SUSA VENTURES I, L.P. at Susa Ventures Management, LLC | $1.5M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
| The Grantham Foundation for the Protection of the Environment | FOUNDATION | Susa Ventures III, L.P. | $3.2M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
Relationships across DFX
7 co-investors · on 2 other DFX graphs
Co-investors
- 2026-03-191 shared deal · one time
- 2026-03-191 shared deal · one time · they led 1
- 2025-11-201 shared deal · one time · this firm led 1
Across DFX and the capital chainon 2 other DFX graphs · 1 capital path ShowHide
- The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Susa Ventures Management, LLC is the same institution as 2 records in Allocators and RIA and Wealth.
DFX found 2 relationships across 2 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Susa Ventures Management, LLC sits on 1 traced path of capital across the graphs.
DFX traced 1 path of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Evidence and history
26 dated events, 69 observations from 3 sources
Timeline
- May 27, 2026Humba II, L.P. first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $46,956,118
- May 27, 2026Susa Ventures V, L.P. first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $182,327,940
- Mar 29, 2023Humba I, L.P. first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $7,352,226
- Mar 29, 2023Susa Ventures Lu1 no longer reported on Form ADV by Susa Ventures Management, LLC
- Mar 29, 2023Susa Ventures Stord1, LLC first reported on Form ADV by Susa Ventures Management, LLC (Venture Capital Fund), GAV $9,231,099
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed May 27, 2026 · 20 private fundsShowHide
- Headquarters
- San Francisco, CAadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- 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, adviser total
- $1.3Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Classification history
Classification history
Every classification this record has carried2 on recordShowHide
- Sep 23, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $1.3B
- Sep 12, 2026Multi-stage venture firm (confirmed, 95%)Both early and growth/opportunity families, reported GAV $985M
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC exemption, VC funds reported | May 27, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | May 27, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 14, 2024 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | May 27, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | May 27, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 14, 2024 | Fact | Form ADV |
| First Form ADV filing | 2014-12-08 | May 27, 2026 | Fact | Form ADV |
| First Form ADV filing | 2014-12-08 | Mar 14, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-30 | Oct 1, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-05-27 | May 27, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-05-27 | May 27, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-03-14 | Mar 14, 2024 | Fact | Form ADV |
| SEC status | ERA - Active | May 27, 2026 | Fact | Form ADV |
| SEC status effective | 2014-12-08 | May 27, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | May 27, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 14, 2024 | Fact | Form ADV |
| Business phone | May 27, 2026 | Fact | Form ADV | |
| Business phone | Mar 14, 2024 | Fact | Form ADV | |
| Headquarters | San Francisco, CA | May 27, 2026 | Fact | Form ADV |
| Headquarters | San Francisco, CA | Mar 14, 2024 | Fact | Form ADV |
| Office address | May 27, 2026 | Fact | Form ADV | |
| Office address | Mar 14, 2024 | Fact | Form ADV | |
| Legal form | Limited Liability Company | May 27, 2026 | Fact | Form ADV |
| Legal form | Limited Liability Company | Mar 14, 2024 | Fact | Form ADV |
| Private funds reported | 20 | May 27, 2026 | Fact | Form ADV |
| Private funds reported | 20 | May 27, 2026 | Fact | Form ADV |
| Private funds reported | 18 | Mar 14, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $1.3B | May 27, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $1.3B | May 27, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $985M | Mar 14, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Sep 23, 2026 | Fact | Form ADV |
| Venture funds reported | 20 | May 27, 2026 | Fact | Form ADV |
| Venture funds reported | 20 | May 27, 2026 | Fact | Form ADV |
| Venture funds reported | 18 | Mar 14, 2024 | Fact | Form ADV |
| Website | May 27, 2026 | Fact | Form ADV | |
| Website | Mar 14, 2024 | Fact | Form ADV | |
| Site title | Sep 30, 2026 | Fact | ||
| Site title | Sep 29, 2026 | Fact | ||
| Site title | Sep 28, 2026 | Fact | ||
| Site title | Sep 27, 2026 | Fact | ||
| Site title | Sep 26, 2026 | Fact | ||
| Site title | Sep 25, 2026 | Fact | ||
| Site title | Sep 24, 2026 | Fact | ||
| Site title | Sep 23, 2026 | Fact | ||
| Site title | Sep 22, 2026 | Fact | ||
| Site title | Sep 21, 2026 | Fact | ||
| Site title | Sep 20, 2026 | Fact | ||
| Site title | Sep 19, 2026 | Fact | ||
| Site title | Sep 18, 2026 | Fact | ||
| Site title | Sep 17, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 15, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersMulti-stage venture firm, confirmedShowHide
Both early and growth/opportunity families, reported GAV $1.3B
- importance
- gav: 0.64 · funds: 1 · people: 0.12 · investments: 0.11 · co investors: 0.34
- active deployment
- investments 12m: 0.25 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: 2026-03-19
- emerging manager
- fund count: 21 · reported gav: $1.3B · first adv filing: 2014-12-08 · years since first filing: 11.8
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Adviser's first ADV filing2014-12-08source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.