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Angel Investor (Individual)
grpvc.com/team/mark-suster

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Investments

6

Portfolio Exits

1

About Mark Suster

Mark joined GRP Partners in 2007 after having worked with GRP for nearly 8 years as a two-time entrepreneur. Most recently Mark was Vice President, Product Management at Salesforce.com (NASDAQ: CRM)

Mark Suster Headquarters Location

Los Angeles, California,

United States

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CB Insights Intelligence Analysts have mentioned Mark Suster in 1 CB Insights research brief, most recently on Jun 9, 2021.

Latest Mark Suster News

Exclusive: 2 top partners at LA's Upfront Ventures have quietly stepped away from investing duties

Jul 28, 2022

Redeem now Upfront Ventures is one of the oldest and most prominent Los Angeles venture firms. Kara Nortman, named one of the firm's three comanaging partners in 2020, won't make new investments. Greg Bettinelli, an Upfront partner since 2014, has also transitioned to an operating role. Two of the top partners at Upfront Ventures, one of the oldest and most prominent Los Angeles venture firms, have quietly stepped back from investing duties in recent months and will be moving on to pursue other opportunities, Insider has learned. Kara Nortman, who was promoted in 2020 and became one of the firm's three comanaging partners, has taken on a new role as board partner in order to spend more time on the professional women's soccer team she cofounded as well as other sports-related business opportunities, said Mark Suster, Upfront's managing partner. "She realized she was really passionate about sports, and she wants to pursue that as a main activity," Suster said. "She's transitioning to this role with my complete blessing, and we're still close friends." Nortman did not respond to requests for comment. Greg Bettinelli, an Upfront partner since 2014, will also no longer be making new investments at Upfront. "I'm transitioning to board partner and have decided to pursue another other opportunity, which I'm not ready to discuss yet," Bettinelli wrote in an email. "I have a great relationship with the Upfront team and obviously the firm and my portfolio mean a lot to me personally and professionally." Suster said the timing of the transitions, which he said occurred during the past three months, was purely coincidental. But he said that in both cases Upfront's relatively narrow focus on business-to-business enterprise technology didn't align with Nortman's interest in sports or Bettinelli's passion for consumer technology. "Neither of them were asked to leave," Suster said. "Sometimes you wake up, and you see an opportunity you want to pursue. I don't want to hold someone back from something they believe in." Several investors in LA's tight-knit venture community reacted with surprise to the change. "That's big news," said one VC, who declined to be identified because they were speaking about a rival firm. In 2020, Nortman cofounded Angel City, a professional women's soccer team that started playing this year in LA. Other high-profile backers of the team include the actor Natalie Portman, the venture capitalist Alexis Ohanian, and the tennis superstar Serena Williams. Nortman, who is one of the few women to ascend to the highest ranks of venture capital, is also a founding member of All Raise, a nonprofit advocating for female founders and investors. Before joining Upfront in 2014, she cofounded Moonfrye, a children's e-commerce company. She was also an executive at IAC, where she oversaw Urbanspoon and Citysearch, where she recruited Sean Rad , who went on to build Tinder. Bettinelli, who also joined Upfront in 2014, was previously the chief marketing officer at HauteLook, an online flash-sale retailer acquired by Nordstrom, and led business development and strategy at Live Nation. His active investments include GOAT, ThredUp, Dronebase, HopSkipDrive, Invia Robotics, Ritual, Pinwheel, Verishop, Rally, Landline, Modern Animal, Route, Loupe, and The Cool Down, his recently updated LinkedIn profile indicated. Upfront, which was founded by Yves Sisteron in 1996, has more than 2 billion in assets under management and is probably best known for the Upfront Summit, its splashy annual gathering of VCs, founders, and celebrities, which resumed this year after a COVID hiatus, at Banc of California Stadium south of downtown LA, where Angel City plays its matches. Suster said that as much as he'll miss Nortman and Bettinelli, Upfront has a deep bench of talented investors, including Kevin Zhang, who has now been at Upfront for almost a decade and focuses on healthtech and gaming. He also praised Kobie Fuller, who focuses on Black-founded businesses and customer-experience software. As Silicon Valley firms expand their presence in LA , Upfront, which is in Santa Monica, has started spending more time in San Francisco (Upfront makes 60% of its investments outside of LA). It now employs seven investment professionals, including the partners Aditi Maliwal , on the seed team, and Seksom Suriyapa , a former Twitter executive who focuses on growth investments. In addition to the new $280 seed fund, Upfront is also deploying its third growth-stage fund, which has $200 million in commitments, and a $175 million Continuation Fund. Suster announced this week that Upfront has returned more than $600 million to its limited partners since 2021 and more than $1 billion since 2018. "We have a lot of money," Suster said, "and we have a great team." Sign up for notifications from Insider! Stay up to date with what you want to know. Subscribe to push notifications

Mark Suster Investments

6 Investments

Mark Suster has made 6 investments. Their latest investment was in Triptrotting as part of their Series A on March 3, 2012.

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Mark Suster Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/8/2012

Series A

Triptrotting

$1M

Yes

10/17/2011

Seed VC

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$99M

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0

3/9/2011

Series A - II

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$99M

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10

7/14/2010

Series A

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$99M

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10

3/9/2010

Seed

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$99M

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0

Date

3/8/2012

10/17/2011

3/9/2011

7/14/2010

3/9/2010

Round

Series A

Seed VC

Series A - II

Series A

Seed

Company

Triptrotting

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Amount

$1M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

0

10

10

0

Mark Suster Portfolio Exits

1 Portfolio Exit

Mark Suster has 1 portfolio exit. Their latest portfolio exit was EcoMom on April 24, 2013.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/24/2013

Asset Sale

$99M

1

Date

4/24/2013

Exit

Asset Sale

Companies

Valuation

$99M

Acquirer

Sources

1

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