UNIVERSITY PARK, Pa. — Penn State alumnus Jake Poliskin has built an impressive career in the high-stakes arena of venture capital and tech investment. As billionaire Mark Cuban’s East Coast adviser and only remote employee, Poliskin screened early-stage companies for potential capital investment and managed special projects such as AI-driven event recognition for the Dallas Mavericks. More recently, he’s collaborated with Lukas Walton of the Walton family, Microsoft founder Bill Gates, Netflix CEO Ted Sarandos and Carlyle founder David Rubenstein. It would be an impressive resume for anyone, but Poliskin is just getting started — he hasn’t yet turned 30.
Now, as the 2015 alumnus of the College of the Liberal Arts takes stock of his early success, he’s exploring how targeted philanthropic investment can remove barriers to educational opportunity.
Poliskin has stepped forward with a gift commitment of $100,000 to create the Jake Poliskin Scholarship in the Smeal College of Business. The permanent endowment will award scholarships annually to Smeal undergraduates with demonstrated financial need. The support advances efforts to ensure that the Penn State experience remains accessible and affordable to students regardless of economic background.
“Penn State’s alumni have a well-earned reputation for generosity, but rarely do we encounter someone so young and so recently graduated reaching out to make a gift of this magnitude,” said O. Richard Bundy III, vice president for Development and Alumni Relations. “Jake’s gift is a powerful endorsement of the value of the Penn State experience, and it will provide a lifeline of financial support to Smeal students for generations to come.”
Poliskin, who majored in economics, traces his entrepreneurial spirit to his close-knit family. His grandfather, Eugene, was a jeweler on the Philadelphia Jewelers’ Row District, and his father, Harold, managed a series of successful startups. Poliskin’s mother, Vicki, spent the latter half of her career as an administrator at a local senior center, and his sister, Kara Lord, now works as a social media manager for Tommy John. Poliskin said that his family’s combination of ingenuity and care for others, grounded in their Jewish heritage, are the same interlocking priorities that today guide his decisions in the arena of venture capital.
What surprised Poliskin, however, was that even his solidly middle-class family in Devon, Pennsylvania, struggled to cover the costs associated with his education.
“When I got to University Park, I was kind of naïve about the price of tuition and housing, and over time I realized firsthand what it means to be impacted daily by financial stress,” said Poliskin. “It eats away at you, and you worry doubly about how it’s impacting your family. I knew that by making this gift I could ease the burden on future Penn Staters, so that they can seize every opportunity to find their niche in the world.”
Poliskin credits his success in large part to the transformative influence of the community at Penn State.
“I didn’t start my college career as a laser-focused high achiever, but my best friend and roommate at Penn State, Billy Hunt, showed me how diligence and hard work can put you on track to achieve your goals. In making this gift, my hope is to build a foundation of financial resources so that every Penn Stater can make the best use of their ideas and talents. And that’s because we all deserve a shared prosperity.”
Today, Poliskin serves as head of investments for David Adelman’s Family Office, Darco Capital, one of the largest owners of student-affiliated housing in the United States. There, he directs Adelman’s private investments, which have gravitated toward climate technology. Poliskin’s priorities have included companies that are pursuing electrification of freight ships, advances in nuclear fusion, mobile carbon capture for long-haul semi-trucks and cell-cultivated meat products. The coordinated efforts aim to reduce climate impact and drive down prices on goods and services for everyday consumers. Beyond his role at Darco Capital, Poliskin also maintains working relationships with Mark Cuban and David Rubenstein.
As Poliskin works to enhance opportunities for the next generation of Penn State students, he is cognizant of how crucial mentorship can be to educational and career outcomes.
“Mark Cuban had such a profound impact on my life. His curiosity is just so infectious, and I learned so much from his example. The same is true of David and Hallee Adelman, who put their trust in me and supported me through the good and the bad. Everyone should be so lucky to have mentors like these, and by helping to build a stronger, better-resourced Penn State, that’s my ultimate goal.”
Poliskin’s recent philanthropic commitment builds on his volunteer history at Penn State. During 2017’s Startup Week, he enhanced the slate of events by delivering presentations, speaking on an expert panel and coaching a pitch team. Poliskin said he hoped his endowment would strengthen the University and prompt others to consider making a gift.