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Tampa Bay-Lakeland
Business Observer Thursday, Sep. 29, 2011 11 years ago

Ballast Point promotes Rice

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A St. Petersburg firm with $200 million in investments has a new principal.

ST. PETERSBURG — Ballast Point Ventures, a venture capital group that manages $200 million in investment capital, promoted Matt Rice to principal this week.

“Matt has been an outstanding contributor at BPV in his five years with the firm, and he has played a key role in both sourcing attractive investment opportunities and working with our entrepreneur partners," says Drew Graham, Ballast Point's managing partner.

Ballast Point makes growth equity investments in companies based in the Southeast U.S. ranging in size from $3 million to $10 million. In October, the firm invested $6 million in Watermark Medical, a Boca Raton-based company.

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