NET WORTH: Unknown
SOURCE OF WEALTH: lnvenSense
FUNDING AREAS: Education, Poverty, Healthcare, Non-Violence & Diplomacy
OVERVIEW: Steve Nasiri and family do their grantmaking through the Nasiri Foundation, which seeks to support innovative nonprofit organizations leveraging technology platforms to alleviate global social problems in the areas of education, poverty, healthcare, and to promote non-violence and diplomacy.
BACKGROUND: Steve Nasiri emigrated from Iran in 1972 and graduated from UC Berkeley in 1977. He received a master’s degree in mechanical engineering from San Jose State University and an MBA from Santa Clara University. Nasiri held various key positions as a co-founder and or executive of several startups, including SenSym (acquired by Honeywell) and NovaSensor (acquired by General Electric). He went on to found lnvenSense, which went public in 2011 at a value of some $800 million.
THE NASIRI FOUNDATION: Steve Nasiri established the Nasiri Foundation to support innovative non-profit organizations using technology to alleviate global social problems in the areas of education, poverty, healthcare, and to promote non-violence and diplomacy.
The majority of the foundation’s partners are early-stage, based in the Bay Area, and leverage technology. The foundation’s funding model functions more as an angel investor than a traditional family foundation. Grantees have included Iranian Scholarship Foundation; ACLU; Wishbone.org, which helps send low-income students to summer programs; Moms Against Poverty; and Fast Forward, which “accelerates tech nonprofits by investing money, providing training and mentoring, and increasing the visibility of tech nonprofits to scale them to impact.”
LOOKING FORWARD: Expect Nasiri to stick with his select interest areas.