David Sze

David Sze
Sze in 2013
David Sze
Nationality	American
Occupation	Venture capitalist, entrepreneur
Known for	Managing partner at Greylock Partners
Awards	Forbes Midas List (2013, 2014)

David Sze is an American venture capitalist, entrepreneur, and managing partner at Greylock Partners, one of the oldest and most established venture capital firms in Silicon Valley. Over the course of his career, Sze has been involved in investments in a number of prominent technology companies, contributing to Greylock's reputation as one of the top-performing firms on Sand Hill Road. He has been recognized on the Forbes Midas List, an annual ranking of the most successful venture capital investors, appearing on the list in both 2013 and 2014. Beyond his work in venture capital, Sze serves as a Trustee of both Yale University and The Rockefeller University, reflecting his engagement with academic and scientific institutions. He is also a member of the Northern Lights Venture Capital Board of Advisors, where he oversees Greylock's investments in those funds.

Education

David Sze attended Yale University as an undergraduate. He subsequently earned a graduate degree from Stanford University. His educational background at two of the United States' premier universities positioned him at the intersection of the East Coast academic establishment and the West Coast technology ecosystem. Sze has maintained close ties with both institutions throughout his career. At Yale, he serves as a member of the university's Board of Trustees, one of the governing bodies responsible for overseeing the institution's endowment, academic direction, and strategic planning. His relationship with Yale also connected him to David Swensen, the innovative Chief Investment Officer of Yale's endowment, who was described by Greylock as "a trusted partner and long time friend to many of us at Greylock."

Career

Early career and entrepreneurship

Before joining Greylock Partners, David Sze gained experience as an entrepreneur and operator in the technology industry. His career trajectory included roles that gave him firsthand experience in company building, a background that would later inform his approach to venture capital investing. In a 2013 discussion about his career, Sze spoke about the importance of company building as a central theme in his professional life. His operational background differentiated him from venture capitalists who came exclusively from finance backgrounds, giving him a perspective rooted in the practical challenges of building and scaling technology companies.

One of the companies associated with Sze's pre-Greylock career was NocPulse, a network monitoring software company. NocPulse was ultimately acquired by Red Hat, the enterprise open-source software company, furthering Sze's connections within the broader technology industry.

Greylock Partners

David Sze joined Greylock Partners, a venture capital firm founded in 1965 and headquartered on Sand Hill Road in Menlo Park, California. Over time, he rose to the position of managing partner, sharing leadership responsibilities at the firm. As co-managing partner, Sze has played a central role in shaping Greylock's investment strategy, particularly in the areas of consumer internet, enterprise software, and social media platforms.

Greylock Partners has been one of the most prominent venture capital firms in Silicon Valley for decades. A 2013 Bloomberg Businessweek article noted that the firm had outperformed many of its Silicon Valley rivals, with Sze's investments contributing to that track record. The firm's portfolio under Sze's tenure has included investments across multiple sectors of the technology industry.

One of Sze's most notable investments at Greylock was in LinkedIn, the professional networking platform. The investment in LinkedIn proved to be one of the largest returns in Greylock's history. A 2013 Fortune report highlighted Greylock's significant returns from its LinkedIn investment, noting that the firm had generated over a billion dollars in value from the position. LinkedIn went public in 2011 and was later acquired by Microsoft in 2016 for approximately $26.2 billion, making it one of the most successful venture capital-backed companies of its era.

Sze's investment approach at Greylock has focused on identifying companies with the potential to create significant network effects and build large-scale platforms. In his discussions about investing, Sze has emphasized the importance of understanding the underlying dynamics of how companies grow and how products achieve widespread adoption.

Investment philosophy and approach

In a 2013 conversation about his career and approach to venture capital, Sze discussed the principles that guide his investment decisions. He emphasized company building as a core focus, describing his role as not merely providing capital but also working closely with founders to help develop their companies. This hands-on approach reflected his own background as an entrepreneur and operator who had experienced the challenges of building technology companies from the ground up.

Sze's philosophy has centered on the belief that the best venture investments come from identifying transformative platforms and technologies at an early stage. His track record at Greylock has demonstrated a focus on consumer internet and social platforms, as well as enterprise technology companies that have the potential to reshape their respective industries.

A 2014 Newsweek piece profiled Sze and his work at Greylock, though Sze himself subsequently sought to distance himself from the article. In an email reported by Vox, Sze wrote that "this was not some scripted puff piece like others push," suggesting a desire to be portrayed in an authentic rather than flattering light. The episode illustrated Sze's preference for substance over publicity, a characteristic noted by observers of the venture capital industry.

Relationship with Yale's endowment

Sze's career at Greylock has intersected with the world of institutional investing through his connections to Yale University. Yale's endowment, under the leadership of Chief Investment Officer David Swensen, was one of the pioneering institutional investors in venture capital. Swensen's approach to endowment management, which emphasized alternative investments including venture capital, helped reshape how universities and other institutions managed their portfolios.

When Swensen died in May 2021, Greylock published a tribute describing him as "a trusted partner and long time friend to many of us at Greylock." The relationship between Greylock and Yale's endowment office was part of a broader pattern in which top-tier venture capital firms maintained close ties with major institutional investors, who served as limited partners in their funds. Sze's role as a Yale Trustee further cemented these connections between the academic institution and the venture capital industry.

Board and advisory roles

In addition to his investment activities at Greylock Partners, Sze has taken on a number of governance and advisory positions. He serves as a Trustee of Yale University, his undergraduate alma mater, participating in the oversight of one of the largest university endowments in the world.

In June 2012, Sze was elected to the Board of Trustees of The Rockefeller University, a biomedical research institution in New York City. The announcement of his appointment noted his position as a partner at Greylock Partners and highlighted his contributions to the technology industry. The Rockefeller University Board of Trustees oversees the institution's research programs, financial management, and strategic direction. Sze's appointment reflected the growing connections between the technology investment community and scientific research institutions.

Sze also serves as a member of the Northern Lights Venture Capital Board of Advisors, where he oversees Greylock's investments in those funds. This advisory role connects Greylock's investment activities with a broader network of venture capital funds and investment opportunities.

Recognition

David Sze has received recognition from several prominent business and technology publications for his work as a venture capital investor.

Forbes Midas List

Sze was named to the Forbes Midas List in 2013 and 2014. The Midas List is an annual ranking published by Forbes that identifies the top 100 venture capitalists worldwide, based on the performance of their investments. Inclusion on the list is considered one of the primary benchmarks of success in the venture capital industry, and Sze's appearance on the list in consecutive years reflected the strong returns generated by his portfolio at Greylock, including the firm's investment in LinkedIn.

Industry and media coverage

Sze's work at Greylock has been the subject of coverage in major business publications including Bloomberg Businessweek, Fortune, and Forbes. The Bloomberg Businessweek coverage in 2013 highlighted Greylock's performance relative to other Silicon Valley venture capital firms, with Sze's investments cited as a contributing factor to the firm's strong track record.

His investment activities have also been tracked by research platforms such as CB Insights, which maintains a profile of Sze's investment history and portfolio companies.

Legacy

David Sze's career at Greylock Partners has spanned a period of significant transformation in the technology industry, encompassing the rise of social networking, the growth of enterprise cloud computing, and the emergence of new platforms for communication and commerce. His investment in LinkedIn, in particular, stands as one of the defining venture capital investments of the 2010s, generating returns that contributed to Greylock's position among the top-performing venture capital firms of its era.

As a managing partner at Greylock, Sze has helped shape the strategic direction of a firm with a history extending back to 1965. His emphasis on company building, rooted in his own experience as an entrepreneur, has influenced the firm's approach to working with portfolio companies. Rather than functioning solely as a financial investor, Sze's model of venture capital has incorporated active engagement with founders and management teams throughout the lifecycle of their companies.

His roles as a Trustee at Yale University and The Rockefeller University have connected the venture capital industry with major academic and scientific institutions. These positions reflect a broader pattern in which leading technology investors have become involved in institutional governance, bringing perspectives from the technology industry to the management of universities and research organizations.

Sze's relationship with the late David Swensen and Yale's endowment office also illustrates the interconnections between institutional investors and venture capital firms that have characterized the modern investment landscape. The partnership between Greylock and Yale exemplified how university endowments became important sources of capital for the venture industry, while venture returns contributed to the growth of university endowments.