SHIFT Ventures’ Conscious Venture Lab has partnered with Sagamore Ventures to discover, nurture, and engage entrepreneurial and innovative talent in both traditional and underserved communities.
Sagamore Ventures, the venture capital subsidiary of Plank Industries, will offer its powerful brand, business advisory support, and investment capital to help SHIFT recruit better entrepreneurs and top talent to Baltimore and to attract corporate funding partners.
Plank Industries is the privately held investment company of Kevin Plank, CEO and Founder of Under Armour.
“SHIFT Ventures, Conscious Venture Lab, and Sagamore Ventures have an aligned mission to create jobs, wealth, and economic opportunity to build a better Baltimore,” said Jeff Cherry, CEO of SHIFT Ventures. “By partnering, we believe we can amplify our continued success building strategic relationships; creating jobs; establishing wage, social, and health equity; and having a positive impact on our entrepreneurial community.”
SHIFT Ventures and Conscious Venture Lab joined forces in 2017. Conscious Venture Lab was founded in 2013 as an accelerator program for mission-driven businesses with the foundational premise that purpose and mission in business are emerging as the primary drivers of economic value. Its most well-known success story is Columbia, Md.-based Hungry Harvest, which appeared on the ABC TV show “Shark Tank” in January 2016 and walked away with a $100,000 investment from Robert Herjavek – twice as much as co-founder Evan Lutz had asked.
“We believe in the entrepreneurial talent in Baltimore City. Together, Sagamore Ventures, SHIFT Ventures, and Conscious Ventures Lab can continue to recruit and retain cutting-edge entrepreneurs and contribute to a growing workforce to Baltimore,” said Tom Geddes, CEO of Plank Industries.
Sagamore Ventures is focused on creating jobs, wealth, and opportunity in the quest for a better Baltimore. Its first project is City Garage, which was once known as the City of Baltimore Central Automotive Repair Garage. The 140,000-square-foot warehouse sat vacant for six years before construction began in the summer of 2015 on the first adaptive reuse project in the Port Covington development. Now it is an innovation hub for product development, with mission of building a community focus on the creation, development, and production of new and innovative products.
About SHIFT Ventures:
SHIFT Ventures, a core business of Baltimore-based SHFT, is on a mission is to uncover entrepreneurial talent wherever it might be. In 2017, SHIFT Ventures joined forces with Conscious Venture Lab in order to help entrepreneurs achieve increased levels of growth and sustainability. Together, the companies can offer innovators and entrepreneurs new corporate partners, investors, and world-class consulting expertise.
About Sagamore Ventures:
Sagamore Ventures is the venture capital subsidiary of Plank Industries dedicated to support, counsel and capitalization with a focus on investments in Baltimore-based product companies. Sagamore Ventures manages the recruiting of tenant companies to City Garage and day-to-day operations of Main Street. Led by Demian Costa, the Sagamore Ventures team strives to support the entrepreneurs housed in City Garage by providing the resources and guidance to succeed. Sagamore Ventures is housed alongside many of its portfolio companies at City Garage.