Mark Sugarman built his venture career through an unusually scrappy path, convincing Ken Fox to take him as an unpaid intern at Internet Capital Group after Stanford, becoming their first investment professional and making his first angel investment at 23, then joining that company to help take it public. Before founding MHS Capital, he spent eight years as a concentrated angel investor backing just one or two companies annually while serving as lead investor and board member, an approach that impressed founders enough that some became LPs in his fund as a reverse endorsement of his impact. Mark Sugarman built his venture career through an unusually scrappy path, convincing Ken Fox to take him as an unpaid intern at Internet Capital Group after Stanford, becoming their first investment professional and making his first angel investment at 23, then joining that company to help take it public. Before founding MHS Capital, he spent eight years as a concentrated angel investor backing just one or two companies annually while serving as lead investor and board member, an approach that impressed founders enough that some became LPs in his fund as a reverse endorsement of his impact.