
David Su
Partner
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- Full Name
- David Su (David P. Su)
- Title
- Managing Partner; Head of the Apax Impact (Apax Global Impact) team
- Firm
- Apax Partners (since 2021). Previously Norwest Venture Partners (the firm behind the "nvp.com" legacy record)
- Firm Type
- Private equity / growth-equity impact fund (not an angel — the stub "Angel Investors / Seed" label is inaccurate)
- Investment Stage
- Growth equity and growth buyout (impact-focused). Aggregators also tag historical Series B/Seed activity from his Norwest years.
- Check Size
- Growth-equity scale; investor-database (NFX Signal) lists a $1M–$30M range with a ~$12.5M sweet spot from historical deal data (treat as approximate/aggregator-sourced)
- Target Company Profile
- Companies "where valuation and social impact are equally regarded" — businesses with measurable social or environmental impact alongside commercial returns
- Sector Focus
- Technology, business services, financial services, consumer; impact themes; historically TMT and growth-stage software
- Geographic Focus
- Primarily U.S. (San Francisco Bay Area roots; global mandate at Apax Impact)
- Location
- New York, NY (relocated from the Bay Area on joining Apax)
Background
David Su is a Managing Partner at Apax Partners, where he leads the Apax Impact (Apax Global Impact) team. He joined Apax in 2021 to head its impact-investing platform, which backs companies that aim to deliver competitive financial returns alongside measurable social and environmental impact. The legacy CRM record tying him to "NVP / Norwest" reflects his prior employer — he is no longer at Norwest, and the [hidden] address dates from that period.
Before Apax, David spent twelve years (roughly 2009–2021) at Norwest Venture Partners, where he was a Partner and a founding member of the firm's growth-equity practice. There he invested across technology, business services, financial services, and consumer, and served on boards including Classy, Swing Education, and GAN Integrity. Earlier in his career he was an Associate at Spectrum Equity Investors, focused on the technology, media, and telecom (TMT) sectors, and an Analyst in the TMT Investment Banking Group at Goldman Sachs.
David earned an MBA from Harvard Business School and a BS with honors in Business Administration from the Haas School of Business at the University of California, Berkeley, with study-abroad stints at the London School of Economics and Peking University.
David has been open about the personal roots of his move into impact investing: the experience of parenting a deaf child who received cochlear implants shaped his commitment to backing companies that combine financial and social returns — what he describes as a different, "more meaningful" kind of unicorn.
Investment Thesis & Focus
- Impact + returns, weighted equally: Invests in companies "where valuation and social impact are equally regarded," seeking competitive growth-equity returns and measurable, intentional impact rather than treating the two as a trade-off.
- Growth-stage operators, not seed bets: Focus is on scaling, revenue-generating businesses (growth equity / growth buyout) — distinct from the early-stage/seed angel profile in the original stub.
- Sector breadth: Technology, software, business services, financial services, and consumer, with impact themes such as education, governance/compliance, and social good.
- Measurement discipline: Emphasizes rigorous impact measurement and reporting as core to the underwriting — he has publicly discussed how to measure impact using portfolio examples like Swing Education.
- Drawn to platform + authenticity: Cites Apax's "authentic" approach to impact combined with a large global firm's resources, culture, and reach as why he made the move.
Notable Investments
- Classy — Online/mobile fundraising platform for nonprofits and social-good organizations; Norwest led the Series D ($118M, 2021) and David joined the board. (Acquired by GoFundMe in 2022.)
- Swing Education — Marketplace connecting substitute teachers with schools; an Apax Global Impact portfolio company. David serves on the board; the company has raised ~$60M+ (incl. a Series C, ~2023).
- GAN Integrity — Governance, risk, and compliance (GRC) software; David serves on the board (Series C, ~2023).
- Manta — Small-business online directory/marketing platform (~$44M round, 2012-era Norwest deal).
- The Rainmaker Group — Revenue-management / pricing-optimization software (~$34M round, 2012-era Norwest deal).
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