SierraMaya360 starts to solidify Charlotte foothold

Venture capital firm SierraMaya360 announced a few recent investments that show it’s starting to make good on its vow to help Charlotte become a hospitable place for young start-up companies.

Earlier this week, the firm announced big investments in two Charlotte startups: Industry, a co-working office space in the N.C. Music Factory where the firm will open an office and Brewpublik, a local craft beer delivery service.

Industry will get up to $1 million over three years, since the firm’s lease is that long, and Brewpublik will get up to $5 million over five years, says SierraMaya360 partner Amish Shah, a Charlotte resident. Those investments are contingent upon meeting certain milestones, Shah said, like Brewpublik’s expansion into the Raleigh market.

Shah describes Industry as a millennial’s dream workplace: filled with 20-somethings, many who bike to work, tattoos everywhere, free parking, easily accessible to the Fillmore and the Comedy Club. It’s a “Silicon Valley type of setup,” Shah said.

Industry, founded in 2009 by Tyler Ford, has a space of 24,000 square feet with 38 private offices, four conference rooms and capacity for over 75 open desk memberships. It’s holding its grand opening on Aug. 20.

Brewpublik is the “first real startup” investment for Shah. He describes the company’s founders (Zach Jamison and Charlie Mulligan) as “so passionate and so fast paced.”

After a first meeting earlier this year, Brewpublik came back to Shah a few weeks ago to show how the company had grown its revenue and its subscriber base over the last six months. Shah was sold, and says he sees even more potential for the delivery company through partnerships like Postmates, as well as with the upcoming Panthers’ season.

“I see an opportunity with tailgating, and nobody is doing yet,” Shah said. “Why can’t we deliver craft beer at Panthers’ games?”

Charlotte is drawing more young people who come from big cities and have big ideas for starting their own companies. One of the big problems fledgling companies face, Shah says, is access to capital.

“One of the biggest things I see is start ups leaving,” Shah said. “I wanted to change that.”

SierraMaya360 also helps provide young companies access to publicity (think the television show “Shark Tank”), events and big venture capital firms, who recognize the Sierramaya360 name, Shah said.

He describes his firm as an “accelerator without walls” that’s willing to take risks when others like small angel investors might not. “We want you to focus on your business. We’re not here to run your company,” Shah says.

And part of his interest in Charlotte is personal, too. Shah’s a New Jersey native who has lived here for seven years now. He has a 3-year-old and an 18-month-old and plans to stick around for a while.

“I’m going to be part of the community for a long time,” Shah said. “I’m one of those people who can’t just sit on the sidelines and watch.”

SierraMaya360’s other partners include Glen Howard, Eric Kagan and Tony Potts. The firm also has offices in Boston, Los Angeles and San Francisco.

This story was originally published August 14, 2015 at 1:07 PM with the headline "SierraMaya360 starts to solidify Charlotte foothold."