Summary:
Omar Tawakol, CEO of Rembrand, joins Super{set} as a general partner.
Tawakol's BlueKai and Chavez's Krux were fierce competitors until their acquisitions by Oracle and Salesforce.
Super{set} focuses on building startups from scratch through 'jam sessions' to tackle market challenges.
The studio has raised $90 million in its second fund to support diverse sectors including AI and healthcare.
Chavez and Tawakol embrace a 'niche and nerdy' approach, finding opportunities in large, growing markets.
A New Chapter for Omar Tawakol
On Tuesday, Super{set}, a venture studio co-founded by Tom Chavez and Vivek Vaidya, welcomed Omar Tawakol, the CEO of Rembrand, as a general partner. This partnership marks a significant shift from their competitive past in the data management platform (DMP) sector over a decade ago.
Remembering the Competition
Back then, Tawakol's BlueKai and Chavez's Krux were fierce competitors, leading to notable acquisitions: Oracle bought BlueKai for about $400 million in 2014, and Salesforce acquired Krux for $700 million in 2016. Despite their rivalry, Chavez fondly recalls their face-to-face negotiations, where he discovered Tawakol's true character, stating, “What a nice, smart, thoughtful, honest dude.”
Super{set}'s Unique Approach
Super{set} distinguishes itself from traditional VC firms by developing startups from scratch. The team conducts 'jam sessions' to identify market problems and explore innovative solutions using AI and data. They recently raised $90 million in March 2024, building on a previous $65 million fund established in 2019.
A Diverse Portfolio
Their investments span various sectors, from applied AI to HR tech and healthcare. Notable companies include Ketch (data governance), Kapstan (cloud infrastructure), and Habu (data clean room provider), which was acquired by LiveRamp for $200 million.
Embracing Niche Markets
Chavez describes their focus as “niche and nerdy”, emphasizing the potential in seemingly boring markets. Tawakol shares this vision, eager to apply his expertise in identifying and nurturing promising ideas while continuing his role at Rembrand. He views this venture as his creative outlet.
In conclusion, the collaboration between these seasoned entrepreneurs signals a promising future for Super{set} and its innovative approach to startup development.
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