Prior to becoming a venture capitalist, Masha Bucher built her career in public relations and marketing – a background that significantly influences her approach to leading Day One Ventures.

Having spent years within the communications industry – including holding leadership positions that provided her with a thorough understanding of startup dynamics – Bucher came to a pivotal realization: she could leverage her business expertise to either excel as a highly effective PR professional or transition into a more impactful role.

“I was observing developments in the business world, and my understanding of the broader context allowed me to focus my PR efforts on core business objectives,” Bucher explained to TechCrunch during a recent Equity podcast appearance.

In 2018, she established Day One Ventures after recognizing the potential to maximize impact – and achieve stronger investment returns – by investing in startups and supplementing that investment with comprehensive PR support. This combined strategy allows her to provide more substantial assistance to portfolio companies while concentrating on ventures she genuinely champions.

“The conventional structure of PR services often creates misalignment,” Bucher observed, pointing out that agencies operating on a contractual basis may prioritize slower execution to extend client engagements. “For startups, rapid progress is essential.”

Beyond the need for speed, there’s also a financial consideration: “Companies in their early stages shouldn’t be required to spend $10,000, $20,000, or $30,000 each month for six months just to secure a single mention in TechCrunch. I believe that’s inequitable and unsustainable.”

Day One’s integrated approach enables Bucher to collaborate with startups during their crucial formative phases when support is most valuable. Early-stage companies often undergo pivots or leadership changes, and “a relationship built on trust is vital for providing guidance and assisting with key decisions.”

Providing financial backing grants her a level of influence that many traditional PR firms cannot match: she has a direct stake in the success of the companies she represents.

“My goal is to be, ideally, the initial investor in the most groundbreaking and ambitious concepts and companies of our era,” Bucher stated. “This begins with a deep understanding of the relevant industry, a firm grasp of the business model, and a strong conviction in the company’s potential. Once that conviction is demonstrated through investment, you gain the credibility to introduce the company to journalists with greater integrity.”

A PR professional with access to everything from investor presentations to a startup’s data room possesses a distinct advantage in shaping the company’s narrative and understanding the implications of its work. For Bucher, this access makes her work more rewarding. While providing PR services for any company that can afford them might be profitable, “it doesn’t necessarily equate to a compelling story.”

Like any VC, Bucher is accountable to her investors – in Day One’s case, a network of over 70 LPs encompassing institutions, individuals, and more than 15 founders from the firm’s existing portfolio companies. Consequently, her investment choices require careful deliberation. When evaluating companies, she considers not only whether she believes in their vision but also whether the founder possesses the ethical principles and strong moral character to uphold their values as the company expands. 

She cited Valar Atomics, a company developing advanced nuclear reactors, as a prime example. Day One recently co-led a $130 million funding round for the startup. 

“I can’t imagine a more suitable founder,” she remarked, referring to Valar’s CEO Isaiah Taylor, and expressing her confidence in his judgment when making “literally life-or-death” decisions. 

This ethical standard means she will pass on opportunities even if they are generating significant attention. Bucher indicated she was not impressed by the provocative “cheat on everything” marketing campaign employed by AI startup Cluely. Instead, she takes pride in having invested in pioneering technologies within fields such as reproductive health (Orchid’s embryo selection technology), accessible healthcare (Superpower), and law enforcement (Abel’s AI-powered report-writing tools).

Day One’s investment portfolio includes early-stage investments in companies like Sam Altman’s World, the email application Superhuman, and the remote work platform Remote.com, and currently boasts at least 12 unicorn companies with a total portfolio value exceeding $115 billion. Last year, Day One successfully closed its Fund III with $150 million, focusing on early-stage founders “addressing the most critical challenges facing humanity,” and has experienced substantial growth over the past six years, increasing from $11 million in assets under management to over $450 million today, according to Bucher.

“Our aim is to utilize communications to achieve companies’ business objectives, identify new opportunities, and ultimately, enhance shareholder value,” Bucher concluded.