Wednesday, August 8, 2012

Mark Cuban's Latest Investment Trades Grads' Future Income For Startup Capital

Mark Cuban, the prolific Dallas angel investor and owner of the Dallas Mavericks, has invested in a company which lets college graduates trade a portion of their future income, for a chunk of capital. Upstart, a Silicon Valley startup, said that it is looking to allow college graduates and entrepreneurs to gain access to capital, in exchange for a portion of their income for the next 10 years. The firm said it has been running a pilot with five universities and would-be entrepreneurs, backed by a dozen successful entrepreneurs. Cuban's investment in Upstart was not announced, however, he joined Kleiner Perkins Caufield & Byers, New Enterprise Associates, Google Ventures, First Round Capital, and Crunchfund in the investment. Upstart was started by ex-Google Employees. More information »