Mark Suster
Mark Suster | |
|---|---|
| Born | April 30, 1968 Northern California, United States |
| Occupation(s) | Entrepreneur, investor, venture capitalist, blogger |
| Years active | 1999–present |
| Known for | Managing partner at Upfront Ventures, co-founder of BuildOnline and Koral, blogger on startup ecosystem and venture capital |
Mark Suster (born April 30, 1968) is an American entrepreneur and investor who acts as managing partner at Upfront Ventures, recognized as the largest venture capital firm based in Los Angeles. Additionally, he is a prominent blogger focusing on the high-tech startup ecosystem and venture capital industry.
Business career
In 1999, Suster co-established BuildOnline, a company specializing in construction collaboration technology, where he held the position of CEO. In 2006, BuildOnline merged with its American competitor Citadon. By September of that year, Suster departed from Citadon to found Koral, a company developing content collaboration software, which was acquired by Salesforce.com in April 2007. After this acquisition, he assumed the role of Vice President of Product Management at Salesforce.
Suster became part of Upfront Ventures (previously known as GRP Partners) in 2007. Two years later, in 2009, he launched the Launchpad LA accelerator while maintaining his responsibilities at Upfront. He spearheaded investments in firms such as Ring, Bird, Invoca, ThreadUp, MakeSpace, mitu, Nanit, Osmo, Tact, and uBeam. Furthermore, he led initial funding rounds and held board positions at Maker Studios, which was acquired by Disney in 2014, and was an early backer of the online automotive shopping platform TrueCar, which went public that same year. Suster has also publicly admitted to having passed on opportunities like investing in Uber.
In February 2023, Suster emphasized that an abundance of capital had been supporting numerous startups; out of 5,000 early-stage companies financed by Upfront since 2019, half were at significant risk of failure. After the collapse of Silicon Valley Bank in March 2023, he called for composure among investors and entrepreneurs, attributing the widespread panic to a limited number of problematic venture capitalists.
Together with Upfront Ventures, Suster organizes the yearly Upfront Summit—an exclusive venture capital gathering held in Los Angeles that draws over 1,000 participants to prestigious locations such as Paramount Studios, the Rose Bowl, and Dolby Theatre.
Both Suster and Upfront Ventures have faced legal challenges connected to their involvement with Loot Crate and Maker Studios.
Personal life
Raised in Northern California, Suster holds citizenship in both the United States and the United Kingdom. He is descended from Romanian Jewish heritage. His academic background includes a Bachelor of Arts degree in Economics from the University of California, San Diego, along with an MBA earned at the University of Chicago's Booth School of Business.
After receiving an ADHD diagnosis in 2014, he has openly discussed how he combines his professional skills with strategies to manage the condition effectively.
Suster is married and has two children.