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Everything we know about the billionaire tech investor who shoved Toronto Raptors player Kyle Lowry and who has since been barred from NBA games for a year
Everything we know about the billionaire tech investor who shoved Toronto Raptors player Kyle Lowry and who has since been barred from NBA games for a year
The NBA Finals are taking place this week between the Toronto Raptors and Golden State Warriors, but the antics of a courtside venture capitalist are taking center stage instead.
Mark Stevens, an investor in tech startups, was seen on video shoving Raptors player Kyle Lowry, who dove into the stands to chase an errant ball during Game 3 on Wednesday. Not only was Stevens kicked out of the arena, but the NBA also fined him $500,000 and barred him from attending any basketball games for a year.
Stevens, who owns a minority stake in the Golden State Warriors, won't be allowed to be present at the arena to see whether his team can beat the Raptors in the finals.
Stevens did not immediately respond to Business Insider's request for comment on the incident.
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Here's what you need to know about Mark Stevens, the billionaire VC whose investment portfolio includes Google, PayPal, and LinkedIn:
Stevens attended the University of Southern California in the 1980s, where he studied engineering and earned both his bachelors and masters degrees. Stevens is still incredibly involved in the school — he sits on USC's board of trustees, and serves on the board of councilors for USC's engineering school.
Stevens and his wife, Mary, have given more than $100 million to USC. Several facilities on USC's campus bear the Stevens name because of their contributions: $22 million for the USC Stevens Center for Innovation; $10 million for the Stevens Academic Center; and $50 million for the USC Mark and Mary Stevens Neuroimaging and Informatics Institute.
While getting his masters in computer engineering, Stevens started working at the now-defunct Hughes Aircraft Company in exchange for tuition. He left the company after less than a year and joined Intel in 1982 to work in technical sales.
Stevens left Intel in 1987, and headed to Harvard University to get his MBA. After getting his degree, he went back to the West Coast and joined the team at Sequoia Capital. The prominent Menlo Park-based firm invests in early-stage companies, and its portfolio includes YouTube, Oracle, Instagram, and Stripe.
Stevens was named a partner at Sequoia in 1993. In his 22 years at the firm, he made big bets in startups that went on to see success and go public, such as Yahoo!, Google, and PayPal.
In 2012, Stevens left Sequoia to found an investment firm called S-Cubed Capital, where he serves as managing partner. S-Cubed has made dozens of investments, including in three companies where Stevens sits on the board: sports software developer Second Spectrum, data center provider Innovium, and chip designer Nvidia.
Stevens has kept a low profile with the Warriors, until this year. Stevens was sitting court-side at Game 3 of the NBA Finals between the Warriors and the Toronto Raptors. When Raptors guard Kyle Lowry dove into the stands while chasing a loose ball during the game's forth quarter, Stevens reached over and shoved him.
Lowry was visibly upset at the incident, and complained to referees. Stevens reportedly said "go f--- yourself" to Lowry several times. Soon after the incident, Stevens was escorted from the arena.
Reaction to Stevens' actions were swift. Lowry called for the NBA to bar Stevens from future league games for life, while fans demanded Stevens sell his stake in the Warriors. In a statement, the Warriors apologized to Lowry and said Stevens' behavior "did not reflect the high standards that we hope to exemplify as an organization."
By Wednesday night, the NBA handed down its punishment to Stevens. The venture capitalist was fined $500,000, and barred from attending NBA games and team activities for one year.
Soon after his punishment was issued, Stevens released a statement apologizing for his actions, which he called a "lapse in judgment."
"I take full responsibility for my actions last night at the NBA Finals and am embarrassed by what transpired," Stevens said. "I need to be better and look forward to making it right."
