River City Circle invests locally
Group invests in San Antonio-area companies
SAN ANTONIO - In a conference room where investments are made face-to-face, it’s easy to feel what’s at stake. The pitch, the product, the pressure all unfolds in a hour long presentation. The River City Circle is Jim Montgomery’s idea.
"If you can't afford to not get your money back, then you shouldn't be doing this," said Montgomery.
As a member of the River City Circle, the risk is high but the reward is investing in local companies. The idea is those local companies create local jobs.
Monday evening, on the table was Jack Terraza's idea. His company Bio Pulp Works develops biodegradable products like bed pans, paint trays, and plates.
“We develop products that can replace Styrofoam or plastic,” said Terrazas.
"This is designed to be people with money in the bank, and they're earning that magic 1 or 2 percent maybe, and they're looking for something that they can do to, not only earn a bit of money, but also what can I do with my money, can I support the local economy differently?" said Montgomery.
The kind of investments vary from biodegradable products to barley and hops. Some of the members of the River City Circle invested in the Pedernales Brewing Company in Fredericksburg.
The maximum an investor can put into one company is $10,000, a way to spread the wealth, the success, and the fun.
"I can say I own part of a brewery, and I can go up and we can visit the brewery and have a beer," said Montgomery.
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