What if the biggest venture opportunities aren’t in the next SaaS tool, but in the markets everyone avoids?

Salen Churi, founder and general partner at Trust Ventures, is proving that regulation-heavy industries hold the keys to outsize alpha. A former law professor turned VC, Salen helps startups turn red tape into competitive edge.

Here’s a glimpse of what you’ll learn:

• 00:40 Introduction to Driving Alpha Podcast

• 01:58 Salen Churi’s Background and Family History

• 03:30 The Intersection of Innovation and Regulation

• 05:41 Founding Trust Ventures

• 12:29 Case Studies: Oklo and ICON

• 17:05 Navigating Regulatory Challenges

• 22:03 Investing in Regulatory Risk

• 25:27 Unique Approach to Venture Capital

• 26:35 Policy Partner and Regulatory Strategy

• 26:57 Investment Strategy in Nuclear and Competitive Markets

• 28:46 Innovative Solutions in the Energy Sector

• 30:44 The Role of Batteries in Grid Management

• 38:46 AI and Regulatory Challenges

• 43:48 Future Vision and Regulatory Changes

• 46:28 The Importance of Tackling Regulatory Problems

In this episode,

Salen Churi breaks down how Trust Ventures consistently finds billion-dollar potential hiding in plain sight, by backing companies that challenge outdated regulatory systems. From modular nuclear energy to 3D-printed homes and AI-driven battery grids, Trust helps founders reshape broken systems and unlock massive, underserved markets.

Salen explains why regulation isn't a red flag, it's often the moat. He shares stories from Trust's early bets like Oklo, ICON, and Base Power, each tackling entrenched incumbents with bold tech and smart policy strategy. He also dives into how Trust evaluates regulatory risk, why they're not afraid of government-adjacent challenges, and how their model as a “policy partner” is turning underdog startups into market leaders.

Whether you're a founder eyeing a legacy industry or a VC seeking differentiated returns, this episode is a playbook for turning policy gridlock into venture-scale alpha.