Via Jacksonville Business Journal by Logan Moore – Reporter
Seeing the growth
Jim Stallings has seen that growth over the years that he has been investing.
Stallings founded PS27 Ventures — an accelerator and venture capital firm — in 2013 after retiring from IBM.
Earlier this year, PS27 launched a $20 million fund backed by First Coast investors seeks to invest in about 20 to 40 startups throughout the Southeast.
“A big chunk of that $20 million is my investment,” Stallings told the Business Journal. “I committed to all the other investors (to start the fund), so I was in first, and about half of it has come from local Jacksonville (investors). It’s really rooted here.”
The fund focuses on companies involved in sustainability, software, and e-commerce, with an aim to identify and fund women founders and people of color.
Its first investment was in levAR, a software-as-a-service company active in the augmented reality industry.
“PS27 offers not just money but also capital, connections, and community,” levAR founder Tre Lucas said.
The fund has also invested in RYZE Superfoods, an e-commerce company that sells mushroom coffee.
“With PS27’s investment and support, we will be able to continue to bring an entire range of superfood products to market, as well as explore new areas for product expansion and help our customers continue to live a healthy lifestyle,” RYZE CEO Rashad Hossain said in a statement. Read the full article here.