Max Altman's Saga Ventures: A $125M Fold for Outside Silicon Valley Investments

An unlikely trio of Max Altman, Ben Braverman, and Thomson Nguyen raised $125 million for Saga Ventures, a venture capital fund focused on non-tech startups. The trio's unique approach aims to invest in software firms catering to non-techies, with a focus on sectors like work software and fintech.

Despite previous investments in manufacturing, finance software, and space-based drug development, Saga Ventures plans to concentrate on traditional software-as-a-service startups, with a special emphasis on AI applications for non-tech users. The fund intends to invest in 30 early-stage firms, with investment rounds between $2-2.5 million each.

Max Altman, the younger brother of OpenAI's CEO, has partnered with Braverman and Nguyen to establish Saga Ventures, moving away from the pressure of the family's investment funds. Altman's vision for Saga Ventures is to create impact at a national level by applying technology to solve real-world problems.

The trio's complementary skill sets and extensive networks have already proven beneficial for startups such as Slope and AtoB, where they have assisted with hiring, setting up risk models, and go-to-market tactics. Seasoned investors have also expressed their enthusiasm for collaborating with Saga Ventures, acknowledging the partners' unique experience across different domains.