Warren Weiss, fondly called “Bunny,” has an impressive track record of discovering tech giants in their early stages. He gained recognition for his work on SilverSpring Networks, which earned him a place on the Forbes Midas List of Top Technology Investors. Additionally, Business Insider voted him as one of the Top 100 Seed Investors. Bunny has had a successful career as a CEO of both public and private venture-backed companies.
In the early days of his career, Weiss was deeply involved in the software industry’s evolving landscape. He recounts, “I was in the software business before it was even called the software business.” Working for one of the world’s largest software companies at that time, he gained valuable experience in accounting and manufacturing and developed a profound appreciation for both technology and business.
A pivotal moment came when he ventured into Silicon Valley to collaborate with none other than Steve Jobs. “When I moved to Silicon Valley to work with Steve Jobs, I learned more about deep technology that allows you to build software,” Weiss recalls. This experience provided him with a comprehensive understanding of the intricate workings behind the technology that drives innovation, laying a solid foundation for his future endeavors.
Transitioning into leadership roles, Weiss went on to helm four public and private software companies as CEO, all of which were venture-backed. Through these experiences, he developed a keen interest in the world of venture capital. “I became intrigued with what venture people do for a living, with my own personal interaction while I was running these companies,” he shares.
Despite initially being uncertain about pursuing a career in VC, Weiss found himself drawn into the fold when approached by Foundation Capital. Recognizing the value of experienced operating executives like himself, the firm offered training in investing in startup companies within the deep technology enterprise market. “It was fortunate that it was a great fit for me, and that’s how I launched my career in VC,” Weiss reflects on this pivotal juncture.
At WestWave Capital, Weiss and his team are driven by a singular goal-to become the foremost micro-VC firm in the industry. Specializing in seed and pre-seed investments within the enterprise sector, they leverage their collective experience as former operating executives with strong tech backgrounds. “Our goal is to be the #1 micro-VC,” Weiss asserts.
Central to their investment philosophy is the belief that building a great company starts with a great product. “We believe that the way to build a great company is to have a great product. That’s where we start,” Weiss emphasizes. Assessing factors such as market potential, the team’s ability to deliver, and core competencies in company management are paramount considerations in their investment decisions.
Furthermore, Weiss emphasizes the importance of evaluating the founder’s potential to lead the company effectively. “We have to think strongly about whether or not the founder can be a CEO of the company, short or long term,” he explains. Ultimately, the aim is to generate substantial returns on investment. “For every dollar we invest, how do we make 10 times our money,” Weiss outlines, underscoring the overarching principles guiding their investment strategies.
Unlocking Potential: The WestWave Approach
At WestWave Capital, the mission is clear: to invest in exceptional entrepreneurs and companies. Weiss emphasizes this core principle: “It’s as simple as that.” Yet, he acknowledges the inherent challenges and risks associated with their endeavors. “We spend a lot of time thinking about how to help our entrepreneurs and companies de-risk,” Weiss explains. This involves pivotal decisions such as strategic hiring, product launches, acquiring early customers, forging beneficial partnerships, facilitating fundraising efforts, and devising long-term execution plans-be it through acquisitions or initial public offerings.
Despite being a relatively young firm, WestWave has already achieved notable successes within the cybersecurity space. Weiss reflects on their “Shift Left” thesis, focusing on integrating security measures early in the development cycle. “We’ve had several security companies that met our thesis around what we call ‘Shift Left,'” he shares. Among these successes is Accurics, which was later acquired by Tenable with an impressive 8x return. Similarly, Tugboat Logic, a company Weiss personally invested in, found success in automating compliance processes and was acquired by One Trust. Weiss attributes their achievements to exemplary leadership, strong team-building efforts, and a relentless pursuit of product-market fit.
Navigating Growth
In the world of venture capital, financial investment is merely the tip of the iceberg. Weiss says, “The financial investment is the easiest part of being in the VC business.” Beyond capital infusion, WestWave is deeply committed to nurturing the growth and success of their portfolio companies. “We provide comprehensive support, ranging from coaching and product strategy to facilitating customer introductions and identifying channel partners,” Weiss explains.
Reflecting on pivotal moments, Weiss highlights the significance of CEO transitions in shaping a company’s trajectory. “Without naming specific companies, we’ve had to go through many CEO changes,” he shares. “Having the right CEO makes all the difference in the outcome.” Indeed, Weiss emphasizes that hiring the right CEO and assembling a strong executive team are among the most critical aspects of their investment strategy.
Moreover, Weiss remains deeply involved with portfolio companies, often serving on boards for extended periods. “I have also stayed on many boards that were public for a long time, to help them with the rest of their journey and eventually hire outside board members to take my place,” he shares. This commitment underscores WestWave’s dedication to long-term partnership and support, ensuring sustained success beyond the initial investment phase.
WestWave’s Vision for the Future
The journey of witnessing entrepreneurs achieve financial success and deliver impactful products to the market is deeply rewarding for Weiss. “If a company does get the opportunity to go public, and you see entrepreneurs achieve financial freedom, the privilege of being in the best capitalist market in the world, delivering world-changing products to customers that improve their lives and their customers’ lives, as well as increase profit, is really a thrill,” Weiss reflects.
Looking ahead, Weiss remains committed to WestWave Capital’s long-term vision and aspirations. “Our aspirations are the same today as hopefully they will be 10 years from now,” Weiss affirms. Central to their mission is the pursuit of excellence in the realm of Enterprise Deep Technology, with a focus on investments in the sub $100 million fund size. With dedication, strategic vision, and a collaborative spirit, WestWave Capital is well-positioned to navigate the complexities of the venture landscape and make enduring contributions to the world of technology and business.