Tampa venture capital firm promotes two, invests $5 million

Tampa-based Ballast Point Ventures has promoted a pair of employees to high-level positions and invested $5 million into an Alabama technology firm.

Robert Faber, who joined Ballast Point in 2010 as a vice president, has been named a partner in the firm. He becomes the fourth partner in the later stage venture capital firm, which was founded in 2002.

Faber, who previously worked at Wachovia Capital Partners and Wachovia Securities, serves on the boards of Ballast Point companies Power DMS, PowerChord and TicketBiscuit.