Kevin Plank's VC Firm Invests In Bag Maker
Under Armour CEO Kevin Plank's foray into non-sportswear-related businesses shows no signs of slowing down. His investment arm, Sagamore Ventures, just announced that it has plunked an undisclosed amount of money into Treason Toting Co, which makes leather and canvas duffle bags, backpacks and wallets, the Baltimore Sun reports.
The three-year-old company recently opened a store at 1714 Thames St in Fells Point. The company makes its products at a factory leased at Sagamore Ventures' City Garage at 101 West Dickman St in Port Covington. Founders Jason Bass and Aaron Jones, both Baltimore natives, will rely on the cash infusion to expand the company's distribution, promote its brand, and manufacture its products faster.
Sagamore Ventures also recently said it was acquiring Baltimore Water Taxi operator Harbor Boating Inc and plans to add five new stops and 10 new boats. [Sun]
