Susa Ventures leaves Los Angeles as it opens a new 50-million investment fund

The investment firm Susa Ventures won't have any partners based in Los Angeles as it begins investing from a new 50-million fund. Susa unveiled its second fund -- double the size of its first -- Tuesday. In looking at the first batch of investments, Susa's geographically spread apart team realized that most of the companies were in the San Francisco Bay Area, including finance start-ups Robin Hood and LendUp. They decided to consolidate in San Francisco, too. "To take it to take next level, we all needed to be in the same office and S.F. seemed like the best," said general partner Seth Berman, who moved there from Los Angeles more than a year ago.