Type | Private |
---|---|
Industry | Venture Capital |
Founded | 1996 |
Founders | Yves Sisteron, Steven Dietz, Steve Lebow |
Headquarters | Santa Monica, CA, U.S. |
Key people | Mark Suster Yves Sisteron Kara Nortman |
Website | www |
Upfront Ventures, formerly known as GRP Partners, is a Santa Monica-based venture capital firm that invests in early-stage technology companies. It is one of the largest venture capital firms in Los Angeles, with $2 billion in total raised funds. [1] [2] [3] Since its founding in 1996, Upfront Ventures has invested in more than 200 companies, with notable exits including Ulta, [4] Overture, [5] PayPal Credit, [6] TrueCar, Disney Digital Network, Kyriba, [7] and Ring.
Upfront Ventures was founded by Yves Sisteron, Steven Dietz and Steve Lebow in 1996 in Century City, Los Angeles under the name GRP Partners. [8]
GRP Partners was best known for investing in chain restaurants like P. F. Chang's and Starbucks, as well as retailers like Costco and Ulta, [4] but it also invested in tech companies such as PayPal Credit, Overture, and Disney Digital Network. [5] Mark Suster joined GRP Partners in 2007 as general manager, [1] and became a managing partner in 2011. [9]
In 2013, the company renamed itself to Upfront Ventures, a rebranding intended to reflect transparency and openness with startups in their early stages, and in reference to the entertainment industry's upfronts. The company also moved to Santa Monica, California, placing it in closer proximity to Los Angeles' tech and startup center, Silicon Beach, although the company makes investments in companies all over the world. [8] [6] The firm also opened a San Francisco office in 2020. [10]
In 2015, the company named rap artist Chamillionaire as its "entrepreneur-in-residence", where he developed the Convoz app. [11]
In July 2017, Upfront created a $400 million fund, specifically established for investing in startups over the next several years. [2]
Upfront Ventures also hosts the Upfront Summit tech conference, held in Los Angeles. [12]
In 2020, Upfront engaged in the payroll space by leading seed round funding for Clair. [13]
The firm’s notable investments include:
Hakeem Temidayo Seriki, better known by his stage name Chamillionaire, is an American rapper. He was the founder and an original member of The Color Changin' Click from 2001 until the group split in 2005. He began his solo career with local releases in 2002, including the collaborative album Get Ya Mind Correct with fellow Houston rapper and childhood friend Paul Wall. He signed to Universal Records in 2005 and released The Sound of Revenge under Universal. It included hit singles "Turn It Up" featuring Lil' Flip and the number-one, Grammy-winning hit "Ridin'" featuring Krayzie Bone of Bone Thugs-n-Harmony. Ultimate Victory followed in 2007, which was notable for not containing any profanity. Chamillionaire is also known for his most anticipated Mixtape Messiah series, which ran from 2004 until 2009.
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