Max Altman & Ben Braverman chart Saga VC's maiden voyage with Mark Suster | E1948

TL;DR

Saga Ventures founders share their experiences in building successful startups and the importance of leveraging AI in business growth.

Transcript

you know when I met Ryan I desperately wanted to get rich I came from a middle class background I really wanted to make money and Ryan just so he he sort of embodies this the way you get rich is by doing something really really useful and ideally in a way that gives you scale and and in in a way that people value enough they're going to pay you for... Read More

Key Insights

• 💨 The best founders are those who are energized by challenges and run towards them, rather than shying away from them.
• 👯 Building successful startups starts with providing utility and scale, and creating something that people value enough to pay for.
• 💦 Access to greatness and a peer group of successful individuals are some of the advantages of working in Silicon Valley.
• 🤩 AI presents both opportunities and challenges for startups, and the key is to utilize AI to enhance products and services.
• 😒 The founders of Saga Ventures have seen the benefits of investing in industrial-specific uses of AI, which have resulted in significant cost savings and efficiency improvements for various companies.
• 🤢 Saga Ventures aims to help early-stage founders secure the best possible investors for their Series A rounds and be collaborative partners rather than solely focusing on board seats.
• 🧑‍💻 San Francisco and New York remain the most dominant markets for startups, with Austin also emerging as a vibrant ecosystem for tech companies.
• 🗼 The founders emphasize the importance of staying accessible and avoiding the ivory tower mentality when it comes to venture investing.

Questions & Answers

Q: How did the founders of Saga Ventures approach fundraising for their maiden fund, considering the difficulties of raising capital in a challenging market?

It was a challenging process that involved meeting with hundreds of potential investors and traveling across the country. However, their perseverance paid off, and they successfully raised their $125 million fund by building relationships with reputable investors.

Q: What did the founders learn from their experiences working with successful entrepreneurs and investors?

They learned the importance of running towards challenges and embracing conflict, as well as the value of utility and scale in building successful companies. They also saw firsthand the transformative power of AI and how it can drive innovation in various industries.

Q: What type of companies does Saga Ventures focus on when it comes to investments?

Saga Ventures primarily focuses on B2B companies that offer innovative solutions in legacy industries. They aim to back founders who have a foot in the old world and the new world, and who can leverage AI to enhance their businesses.

Q: How does Saga Ventures distinguish itself from other venture capital firms?

Saga Ventures aims to differentiate itself through its accessibility and collaborative approach. The founders actively engage with founders, respond to emails and texts themselves, and prioritize building relationships with entrepreneurs rather than solely focusing on ownership percentages.

Summary & Key Takeaways

• Founders Max Alman, Ben Braverman, and Thompson Win discuss their journey in starting Saga Ventures, a $125 million fund focused on investing in tech startups.

• They emphasize the importance of utility and scale in building successful companies, and the need to run towards problems and challenges instead of away from them.

• The founders reflect on their experiences working with notable entrepreneurs like Parker Conrad, Ryan Petersen, and Jack Dorsey, and highlight the key lessons they learned from their leadership styles.

• They believe in the power of AI in transforming various industries and are interested in backing companies that utilize AI to enhance their products or services.