Thomas G. Stemberg is an entrepreneur

Entrepreneur

An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...

, venture capitalist and executive, most notable for founding office supply retail chain Staples Inc. with Leo Kahn

Leo Kahn (entrepreneur)

Leo Kahn was an American businessman and entrepreneur who is credited as the co-founder of Staples Inc.. Kahn is also considered a pioneer of the natural and health food supermarket industry, founding the Fresh Fields and Nature's Heartland chains, which are now part of Whole Foods Market.-Early...

.

In 1986 Stemberg and Kahn came up with the idea for Staples Inc. in response to frustration with small retailers that provided critical supplies. Stemberg previously had worked in the grocery store business at Star Market

Star Market

Star Market was a New England chain of supermarkets owned by the Mugar family and based in Greater Boston. The company was sold to The Jewel Companies, Inc. in 1964, and was later sold to Investcorp, which sold the chain to Shaw's Supermarkets...

s. Stemberg noticed many retailers on Main Street selling ball point pens at $2 - $3 with a wholesale cost of just 30 cents and determined that the business could be profitable and reduce customer costs.

In 2005, Stemberg joined Highland Capital Partners

Highland Capital Partners

Highland Capital Partners is a venture capital firm that focuses on investments in seed, early, and growth stage companies in the communications, consumer, digital media, healthcare, and information technology sectors. The firm's partners include: Peter Bell, Sean Dalton, Bob Davis, Richard de...

, a venture capital

Venture capital

Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...

 firm, in Lexington, Massachusetts

Lexington, Massachusetts

Lexington is a town in Middlesex County, Massachusetts, United States. The population was 31,399 at the 2010 census. This town is famous for being the site of the first shot of the American Revolution, in the Battle of Lexington on April 19, 1775.- History :...

as managing general partner.

Stemberg was ranked 50th in a recent article describing the 50 Wealthiest Bostonians. His estimated net worth is $202 million.