PRNewswire
Three young entrepreneurs, who all started multi-million dollar companies in their late teens or early 20s, have partnered up to create DSCN Capital, an early-stage venture capital firm that will use their own resources to invest in young and innovative start-ups. The three former yeshiva students do not foresee themselves including any other partners and will use their years of experience, as well as their partnerships and contacts within the fashion industry, NFL, NBA, and high-tech corporations, to guide and assist promising companies, ensuring that the rocky road to success can be as smooth and seamless as possible.
David Schottenstein, who sold his custom clothing company Astor & Black that he started at only age 20 for tens of millions of dollars, will run the day-to-day goings on of the firm and will be partnering with brothers Ben Nash and Eli Nash, who have each built thriving cell phone businesses. When he was only 18 Ben started PCS Wireless, which is currently anticipating $1 billion in sales this year, while his brother Eli started his company, Jeg & Sons, at age 20. Schottenstein was named as one of Inc’s 30 under 30 in 2010, while Ben Nash has been named in Forbes’s list of 30 under 30 as well as in Crain New York’s 40 under 40.
The firm has already invested in many original and pioneering high-tech companies, including Mellow, a smart sous-vide machine that cooks your food the way you want, when you want it, and OneWheel, a one-wheeled, self-balancing, electric skateboard. The trio has also backed fashion companies Mizzen + Main, which sells unique high quality performance dress shirts for men, and Hillflint, which offers heirloom-quality college knitwear.
“When I started my first company there were many challenges and hurdles that came up regularly, many of which I could have used a helping hand with,” said Schottenstein. “The fact that I overcame those challenges is nothing short of miraculous. We like helping our portfolio companies in any way we can, making sure our guys know that we are there for them when they run into obstacles.” When asked to comment regarding how their Talmudic studies have played a role in their development as entrepreneurs Schottenstein had this to say “Studying Talmud develops the brain in ways one can’t begin to imagine. The Talmud is rich with complex back and forth’s, challenges and solutions, particularly on subjects that one would assume have no relevance today. We know better. When faced with challenges in our own businesses I have no doubt that the critical thinking skills we learned in Yeshiva through Talmud study played a key role in our problem solving approach.”
“The reason I work with David is because he has tenacity and is relentless,” said Ben Nash. “David takes on every investment as if it is his only one and is a true value partner. Plus, he doesn’t deviate from his strong morals and ethics. His philanthropic attitude and his constant focus on the greater good makes him so pleasant to be around.” Added Eli: “He has an insane drive to make everyone around him better. He leaves no stone unturned to bring value to the companies he partners with.”
Not negating the issue of housing in crown heights but since when are shluchim not considered unzere? They are part of lubavitch, no? And what about all the other communities outside of crown heights? They are also not considered “unzere” right? Only crown heights= lubavitch?
Besides which these guys don’t even live in ch. what does ch housing have ANYTHING to do with this article? Vent somewhere else. Write an op-Ed. Lol
And, one can never be a former yeshiva student…:)
Once the Rebbe’s tomim, always a tomim…!
That’s the way VCs work. Majority of the positions go bust, you make your money with the home runs. Whether A&B went bust is irrelevant, it worked out well for DS and if the sponsors were successful enough, they are raising later funds to keep seeking out the homeruns.
Hatzlachah Raba with DSCN! It’s great to see Lubavitchers getting into this field.
Hatzlocho rabba to these 3 mentschen!
p.s. Please consider contributing to our insane school tuition bill, LOL
BH
David Hatzlacha raba to you and your partners.
Leizer M. Buenos Aires
LETS MAKE A CHARIDY CAMPAIGN TO SAVE THE HOUSING SITUATION IN OUR OWN SHECHUNA! WE NEED ANOTHER”DOVID FISHER” . A HONEST YOUNG INDIVIDUAL! WHO WILL STEP UP TO THE JOB. OUR COUNCIL IS SITTING AND WATCHING THIS PLACE BEING RUN DOWN TO THE GROUND.
TIME TO HELP UNZERE INSTEAD OF ALWAYS SHLUCHIM
Look at what they do WITH their money!! Thats what matters! They deserve it kein yirbu!! Keep rolling guys!
It sold for $40-$50 million in 2011. #4 you are wrong. And I’ll bet he sells his next company for a lot more BE”H. Wish it was a publicly traded company so I could buy it! $$$
The company sold for $400k out of the bankruptcy court after the “smart money” ruined the company. The “smart money” (private equity group) bought the company from David for 45 million dollars. When he sold it to them it was a gem. I know because I WORKED THERE. Get our facts straight. And MAZEL TOV to Schotty and the Nash’s! You guys are the best.
LOL to “Mendel”, people like you really make me laugh. Get a life. Mazel to David, Eli and Ben. If every one of our communities had just one of you guys the world would be a better place. Seeing the three of you join forces is beautiful and exciting!
ברכה והצלחה כבל מעשה ידיכם
משנכנס אדר מרבים בשמחה
Wishing you Mazel Tov and berachos on your new partnership.
Just one time it would be so nice to see a post where the bitter, jealous and cynical people didn’t post stupid comments. Just one time. Mazal tov to these three amazing individuals. Keep up the great work.
It was sold by Daveed for $50 million. The guys that bought it destroyed it and took it into bankruptcy. It sold from bankruptcy court for $400k but Daveed sold it for $50 million.
Talmudic study experts have arrived. Doing a bit of research says that Astor& Black was sold for $400k. If there is a will – I want to be in it!
What a partnership!! 3 of the most admired people in Chabad are now working together!?? Amazing. I can’t even begin to imagine the amount of extra tzedaka that will flow to our shluchim and mosdos as a result of this. Hatzlacha Rabba!!!!
Hatzlacha Rabba. Give nachas to the Rebbe and your families by keeping good morals and values.
“Shtark Tank”