At Max Altman’s Saga Ventures, An Unlikely Trio Invests Outside The Silicon Valley Hype

Max Altman, Thompson Nen, and Ben Braverman have formed Saga Ventures, raising $125 million to invest in early-stage software startups outside of Silicon Valley, with a focus on classic software as a service startups like work software and fintech. Their goal is to invest in around 30 companies with an average of $2 to $2.5 million per company, aiming to apply technology, particularly AI, to solve real-world problems that will impact everyday Americans and creating tools accessible to a broader audience.

Max Altman, along with Thompson Nen and Ben Braverman, have come together to form Saga Ventures, raising $125 million to invest in early-stage software startups outside of Silicon Valley. The trio met in San Francisco and decided to team up with Max Altman, who had previously invested alongside them through various funds. Saga Ventures plans to invest in classic software as a service startups, focusing on categories like work software and fintech, with a goal of investing in around 30 companies with an average of $2 to $2.5 million per company.

The partners at Saga Ventures aim to apply technology, particularly AI, to solve real-world problems that will impact everyday Americans. They are interested in investing in applications that will be accessible and beneficial to people outside of the tech industry. Max Altman’s background includes being one of the first product managers at Zenefits, where he advocated for building products for businesses across the country, not just tech companies. This approach aligns with Saga Ventures’ vision of creating tools that can be used by a broader audience.

Max Altman’s journey in venture capital includes managing funds with his brother Sam Altman, investing in companies like Reddit and superhuman. After managing the day-to-day operations of various funds, including Apollo Projects, Max Altman decided to branch out and start Saga Ventures with Nen and Braverman. The trio’s diverse backgrounds and networks bring complementary skill sets to the table, with Nen remaining in San Francisco, Altman in Austin, and Braverman in New York.

The partnership among Max Altman, Thompson Nen, and Ben Braverman was born out of a shared rapport and belief in their ability to work well together. They spent time discussing their options and ultimately decided that a smaller fund size with a concentrated investment approach would offer the best chance for success. Saga Ventures aims to lead or co-lead early-stage rounds in software startups, focusing on areas like fintech and artificial intelligence applications. The trio’s combined experiences and shared vision for investing in impactful and accessible technology solutions set Saga Ventures apart in the venture capital landscape.