Cloud Ratings: Vertical SaaS Investing Playbook

Cloud Returns covers ALL types of software investing, whether seed, venture capital, growth equity, private equity, debt, and the public markets.

Tidemark Founder Dave Yuan joined Matt Harney, host of Cloud Ratings, for a discussion around our investment thesis in Vertical SaaS.

Dave and Matt discuss: 

  • How Tidemark thinks about investment criteria.
  • Ideal qualities for vSaaS founders.
  • Dave's viewpoints on overspending in R&D, product risk, and product development in vertical SaaS.
  • What does good multi-product sequencing look like?
  • Is AI an opportunity, neutral, or a threat in vertical SaaS?
  • The supply/demand imbalance between private investors and scaled vertical SaaS companies.
  • A framework for determining when to raise more capital or pursue a capital-efficient path.
  • What SaaS company does Dave admire the most?
  • Dave’s learnings from starting a new fund.

You listen to the episode below or wherever you listen to your favorite podcasts.


March 2024

The information presented in this post is for illustrative purposes only and is not an offer to sell or the solicitation of an offer to purchase an interest in any private fund managed or sponsored by Tidemark or any of the securities of any company discussed. Tidemark portfolio companies identified above are not necessarily representative of all Tidemark investments, and no assumption should be made that the investments identified were or will be profitable. For additional important disclaimers regarding this post, please see “ Purpose of the Site; Not Investment Advice; No Recommendations” and “Regulatory Disclosures” in the Terms of Use for Tidemark’s website, available at Terms of Use (

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