Max Altman, a former Zenefits employee and investor, along with Ben Braverman and Thomson Nguyen, have joined forces to launch Saga Ventures, a $125 million fund aimed at supporting early-stage software startups. The trio plans to invest around $2 million to $2.5 million across 30 companies, focusing on classic software-as-a-service startups in categories like work software and fintech. AI is another area of interest for Saga Ventures, with a focus on utilizing technology to solve real-world problems for non-techie customers.
Altman’s background includes working alongside his brothers Sam and Jack Altman at various venture funds, investing in companies like Reddit and Superhuman. However, he wanted to branch out on his own with a new firm. With Braverman, a former executive at Flexport, and Nguyen, an experienced entrepreneur, they saw an opportunity to create a fund that would allow them to be co-founders while still increasing their deal sizes and impact in the startup ecosystem.
The partnership between Altman, Braverman, and Nguyen brings together complementary skill sets and networks that have already proven helpful to the startups they have backed. CEOs of companies supported by Saga Ventures have highlighted the value of each partner’s expertise, with Nguyen offering fintech knowledge, Altman providing connections, and Braverman assisting with sales strategies. Their collaborative approach and genuine care for the startups they support have been well-received by the founders.
Despite the competitive landscape of seed venture funds, established investors have expressed excitement about working with Saga Ventures. Partners at firms like Khosla Ventures, Founders Fund, and Kleiner Perkins have praised the experience and domain expertise of Saga’s partners, seeing the potential for success in their focused investment approach. Altman, Braverman, and Nguyen are positioning themselves to make a significant impact in the startup ecosystem, building companies that address the needs of everyday people across the country.
For Altman, the opportunity to work with partners outside his family presents a chance to prove himself and compete for the best startup investments. While Saga Ventures may operate similarly to other seed funds, Altman’s focus on building companies for everyday Americans sets them apart in an industry often focused on tech-centric solutions. The trio is motivated to succeed in the high-stakes world of venture capital, aiming to leverage their combined expertise and networks to make a lasting impact on the startup ecosystem.
As Saga Ventures moves into the next phase of their journey, Altman, Braverman, and Nguyen are excited about the larger opportunities and risks that lie ahead. With a shared vision and a commitment to supporting startups that bridge the gap between technology and everyday users, the partners are looking forward to making a mark in the startup world. Their dedication to building successful companies and their passion for working together offer a strong foundation for Saga Ventures to thrive in the competitive venture capital landscape.
