Foster has founded, grown, advised, and invested in multiple businesses spanning hardware, software, and services, introducing innovations to multiple global markets. He has initiated and developed sales channel relationships in North America, Asia, Europe, India and the Middle-East. In 1995, Foster founded BenchMark Consulting International, a process improvement consulting and software firm serving US and Global commercial banks. Alltel Information Systems acquired BenchMark in August 2000 and Foster remained three years on the Alltel senior executive team as a division president at this $3.5 billion public company. In 2004, Foster founded Vumii, an international award-winning developer of long-range night vision security and border defense surveillance systems. Vumii was acquired in 2010 by Opgal, a $50million thermal imaging camera maker which is a joint venture of Rafael and Elbit systems, two multi-billion dollar Israeli defense product companies. Foster remained with Opgal for two years leading the firm’s global security product business.
From 2013 to 2015, Foster served as a managing director at a boutique investment bank, where he obtained FINRA series 7, 79, and 63 securities licenses and leveraged his relationship development and communication skills as a merger and acquisition advisor to emerging growth companies and raising capital for private equity funds. Foster’s most significant client was Viola Group, a $3billion size, multi-stage venture and private equity family of funds focused on Israeli high tech innovative companies. In addition to raising more than $12 million in early-stage capital for his ventures, Foster has been an angel investor since 1999, personally invested in nine startups, advised several young companies, and served as a Mentor for TechStars incubator for multiple years. Two notable personal startups were Curomax, sold to DealerTrax 2007 and SportVu sold to STATS in 2008.
Seraph Group is a 12-year-old , nationwide, early-stage venture capital firm and angel investing platform that has raised 7 funds, made 81 investments, achieved 16 exits, and produced attractive returns for its 300+ individual investors. Foster was one of the first ten LP investors in Seraph Fund I and has been active with Seraph Group since its founding in 2004. In 2016, Foster joined Seraph Group as a full-time General Partner, where he focuses on growing Seraph’s LP capital base, evaluating prospective investments, and advising portfolio companies on revenue growth, capital, and exit initiatives.
Foster completed the Jerome B. Fisher Management and Technology dual-degree program at the University of Pennsylvania, receiving a B.S. in Computer Science Engineering (1991) and a B.S. in Economics from the Wharton School of Business (1991), earning Cum Laude distinction in both degrees. Foster also completed the Wharton Executive Program on Marketing Innovative Products & Services in 2002.