LA Venture Podcast

EPISODE 088

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Chang Xu — Basis Set Ventures

March 24, 2021

Seed
Series A

Chang Xu is a partner at $140M fund Basis Set Ventures.  We discuss everything from why open source is a good business model, how next gen infrastructure might look, what she learned at Upfront, and even practical advice for forming a startup board.

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Full transcript

Hello and welcome to the LA Venture Podcast. This is Minnie Ingersoll host of the podcast and partner at TenOneTen. TenOneTen is a seed stage fund here in LA. All opinions expressed on this show by me and my guests are solely our own.

Chang Xu is a partner at $140 million Basis Set Ventures where she is investing in AI and technology companies that transformed the way people work. Prior to joining Basis Set, Chang was a principal at Upfront and was a founder and operator before that, Chang, nice to see you.

Really great to be here, Minnie.

Thanks. Well, why don't we start with Basis Set and you can tell me a little bit more about AI automation and what you're looking at.

Awesome. So Basis Set Ventures, we're $140 million seed funds investing AI and automation. We're very thesis driven and we have four different thesis that we focused on. Infrastructure, collaboration, automation, and autonomy. I spent a lot of time on the first thesis, which is infrastructure developer tools.

And how we think about infrastructure is the very backbone of how tech companies are constructed. So like AWS, Azure, Github, Twilio, these are all examples of infrastructure companies. And the other thesis that we invest in collaboration, automation, autonomy. my partners are just the perfect fit.

They both spend a lot of time in the early years at Dropbox combined 10 years, at Dropbox in the early years and her partner Long, she led Corp dev M and A at Dropbox during their most inquisitive time where they acquired from dozen companies and has literally seen every single collaboration tool company in the Valley.

And my partner, Sheila was the second marketing hire on Dropbox.