Susa Ventures achieves an unusually high 10% unicorn rate at seed (versus 1% industry average) by specializing in data-centric companies with strong moats and maintaining a founder-first approach where they never take board seats or vote founders out. They operate with an intensive late-stage operating model at seed stage, limiting themselves to 6-8 companies per partner and capping fund size at $125-150M while systematically exploring new sectors through their experimental Humba Ventures fund.
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