The number of companies focused on storage-on-demand is small and growing. VCs say the potential [...]Continue
Upfront Ventures has led a $2 million seed funding round in Ferris, a mobile video company. Allen DeBevoise, founder of Machinima, also participated in the round. Mark Suster, managing partner of Upfront Ventures, joined the board of directors.Continue
Upfront Ventures has closed $280 million for its fifth fund, Mark Suster, a general partner at the Los Angeles-based venture firm confirmed in a blog post. The pool’s LPs include university endowments, foundations, insurance firms, banks, family offices and fund of funds. According to Suster, the fund will continue the firm’s previous investment strategy of focusing mostly on Series Seed and A deals, with half based in Southern California and the other half nationally. In 2012, Upfront raised $200 million for its previous fund. To read more details about Upfront’s fifth fund, visit here.
Upfront Ventures has added Kara Nortman as a partner, according to a blog post from Partner Mark Suster. Nortman is presently board chair at Seedling and previously co-founded Moonfrye. She spent nearly seven years at IAC where she was SVP at Urbanspoon and Citysearch, and earlier co-headed the M&A group. She also spent time at Battery Ventures, Morgan Stanley and Microsoft.Continue
We want help five students working on startups by getting them in front of venture [...]Continue
Los Angeles-based venture firm GRP Partners has closed on a new fund totaling $200 million [...]Continue
Trending in this week on peHUB: Mark Suster, VC disruption, PE fundraising, associate openings, Welsh, [...]Continue
Disruption – the very thing VCs expect from their portfolio companies – has begun to [...]Continue
Thanks to astute deal-making, a strong point of view, and a long and savvy relationship with social media, Fred Wilson of Union Square Ventures [USV] is widely recognized as one of the most influential venture capitalists in the country.
His influence is about to be tested.Continue
On Monday, more than 500 outlets reported that Facebook is acquiring the location-based startup Gowalla, which will shutter in January. Gowalla’s team will now work on Facebook’s new Timeline feature. The acquisition was unexpected for several reasons, including that Austin-based Gowalla has been eating Foursquare’s dust for some time. There were also niggling questions over […]Continue
When gambling on high-risk startups, the more bets you place the better, right? Maybe not. There is an unspoken discussion going on in Silicon Valley now about the value of “Portfolio” versus “Persistence,” especially among people who have never started a company. The claim is that you can improve the odds of a Facebook-like outcome […]Continue
For VCs in search of the next hot investing trend, Mark Suster has two words: Internet TV.
Not that anyone has been paying much attention to him, Suster told a crowd at the Venture Alpha conference held yesterday in San Francisco. “I’ve walked up and down Sand Hill Road and not a single person agrees with me.”
Suster thinks this “means I’m on to something.” But it’s easy to see why others might not agree, beginning with the enduring popularity of good old-fashioned TV. According to the Nielsen Company, Americans watch 5.3 hours of television every single day, and every year, they watch just a tiny bit more than the year before. Indeed, in its latest report….Continue
Catch up with what your peers found most interesting on peHUB this week. The top 10 posts that garnered the most pageviews from regular readers from June 27 to July 1 include GRP Partner Mark Suster’s take on how changes in the software industry will impact venture investing, a giant slideshow of photos from our Chicago Shindig, IRRs from CalPERS, the uncanny similarities between Andreessen Horowitz (aka A16Z) and Kleiner Perkins and the biggest owners of Zynga (which filed to go public today).
1. Slideshow: Chicago Shindig Photos — Lots of ‘em, by Lawrence Aragon
2. Slideshow: IRRs From CalPERS’ Brand Name Venture Funds Underwhelm (Part I), by Mark Boslet
3. Slideshow: CalPERS’ Recent Vintage Brand Name Venture Funds Show Promising IRRs, Largely (Part II), by Mark Boslet
4. Slideshow: Top 10 PE-backed Deals This Year, by Luisa Beltran
5. Kleiner Perkins and Andreessen Horowitz: Separated at Birth?, by Connie Loizos
6. Understanding the Changes in the Software & Venture Capital Industries, by Mark Suster, general partner with GRP Partners
7. Slideshow: Who Are Zynga’s Biggest Shareholders?, by Lawrence Aragon
8. Slideshow: 10 Largest Pending Q2 LBOs, by Bernard Vaughan
9. Here Comes the Deal That Will Save Kleiner Perkins’ Bacon, by Connie Loizos
10. Slideshow: Accel-erating Returns at the Top-Tier VC, by Jonathan Marino (subscribers only)
The venture capital industry has changed over the past 5 years in ways that I believe will be lasting rather than temporal change. We are in the process of our own creative destruction with new market entrants and new models of innovation at the precise moment that our industry itself is contracting. When the dust […]Continue
Six months ago, economist Paul Kedrosky found himself in a curious situation. After being introduced to a new service, along with several other potential investors, the founder of the service announced that as part of any seed-stage deal, he expected immediate liquidity for up to 25 percent of his shares. Kedrosky, a seed investor in […]Continue
In this week’s Social Scene, Brad Feld of Foundry Group goes the distance (and more) for Fitbit, Mark Suster of GRP Partners is the butt of a bathroom joke at South by Southwest, while an angel, PE pro, marketing VP and venture advisor get ready to celebrate being one year older. Have a personal tidbit […]Continue
Earlier this week, Andreessen Horowitz’s newest general partner, Scott Weiss, sang his new employer’s praises, telling me that Andreessen Horowitz is a well-run organization that solicits 360-degree reviews of its GPs yearly, including from its CEOs and (presumably anonymously) other employees within the firm, including its other GPs. The firm isn’t the first. Tens of venture firms […]Continue
Mark Suster is a venture capitalist, serial entrepreneur and owner of one of the best office views in Los Angeles. He also has become a blogging phenomenon, joining the pantheon of VCs whose every word is devoured by startup CEOs.
He and I have spoken a few times informally, but it was about time to put something on the record. So what follows are 5 Questions for Mark Suster:
I’d love to set the record straight on this. We did a lot of that retail and consumer stuff in the 1980s and early 1990s, but our first independent fund was in 1996. Since then, We’ve backed Overture, CitiSearch, LastMinute.com, DealerTrack, Bill Me Later and more. We invested in HealthDataInsights, which is just ripping it up. We also did Qualys, a software-as-a-service company that’s got double-digit millions in revenue run rate.Continue