Ed Mileto and Jayson Koss have opened an office of Eightfold Ventures, their consultancy, off Federal Highway just north of George Bush Boulevard. Photo provided
By Christine Davis
South County residents Jayson Koss and Ed Mileto created their company Eightfold Ventures, a consultancy/venture capital fund, with a portfolio limited to eight active specialty-brand companies, in 2023. Recently, the two opened an office at 709 Bond Way, Delray Beach.
Along with investing capital, Koss, 39, of Delray Beach and Mileto, 37, of Boynton Beach offer these companies step-by-step plans and advice based on the two’s entrepreneurial experiences. Starting his company Delivery Dudes by making deliveries on his moped in 2009, Koss grew it to operate in more than 40 cities, making thousands of deliveries each month.
He sold his company to Waitr Holdings in 2021.
“Ed and I both had highly successful exits: Ed with Perfect Practice Golf and me with Delivery Dudes,” Koss said. “We’d done something exceptional and wanted to keep that going, but we didn’t just want to go the traditional VC [venture capital] route. We wanted to install our proven system into businesses primed for big growth.”
Mileto, cofounder of Perfect Practice Golf, sold his e-commerce business in 2021 to a private investor. After selling only 25 Perfect Practice mats at the PGA show in 2019, he sold 10,000 at that same show a year later.
“Jayson and I believe that good business is about more than money. It’s about creating and sustaining a brand that fills a real need in the marketplace, something that people really gravitate toward,” Mileto said. “We want our companies to achieve a successful outcome, sure, but we also want them to enjoy the trek getting there.”
Of the eight companies that Eightfold Ventures works with, two are based in Delray Beach: DadFuel, a men’s nutrition supplement company, and NBT, a clothing line made for motorcycle riding enthusiasts. Eightfold Ventures helped launch DadFuel from its initial stages, and the brand has enjoyed success, with inventory selling out multiple times. NBT was brought on board a year after it launched and has grown its revenue sevenfold since adopting Eightfold’s strategies.
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A trust in the name of David A. Frecka bought “Villa Oceano Azul” at 1400 S. Ocean Blvd., Manalapan, for $49.12 million from Ramalinga “Rama” Raju Mantena and his wife, Padmaja, in February.
On a 1.84-acre lot with 200 feet on the ocean and Intracoastal Waterway, the seven-bedroom, 16,174-square-foot home features a 50-foot dock with a boat lift, a six-car garage, putting green, two pools, summer kitchen, bar, office, fitness room, wine cellar and a movie screening room.
Mark Griffin of One Sotheby’s International Realty was the listing broker. Catherine McGlennon of Engel & Völkers represented the buyer. The home last traded for $48.37 million in January 2023.
Frecka is the founder and former CEO of Next Generation Films, which made plastic packaging. After a $1.07 billion merger in 2019, he retired from the company. He then founded Triple F Collection, a high-end performance vehicle business, with his sons, Jason and Jordan.
Rama Mantena is the founder and chairman of Integra Connect, a West Palm Beach-based health care services company. Previously, he founded and led P4 Healthcare and Icore Healthcare. Cardinal Health acquired P4 Healthcare in 2010, while Magellan Health Services purchased Icore Healthcare in 2006.
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The Balinese-inspired estate at 1370 S. Ocean Blvd., Manalapan, owned by Christopher C. Rokos, a British hedge-fund manager, was recently listed for sale for $150 million, furnished. Sited on 2.83 acres with 300 feet on the ocean and Intracoastal, the nine-bedroom, 34,498-square-foot compound has a movie room, library, game rooms, wine room, office and several flex spaces. Rokos bought the property in 2017 for $40 million. The property is listed by William Raveis South Florida agent Jack Elkins.
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An estate on 2 acres fronting 160 feet on the ocean and Intracoastal at 1160 S. Ocean Blvd., Manalapan, has come onto the market for $87 million.
With eight bedrooms and 27,745 square feet of living space, the estate includes a main house, guest house, cabana and gatehouse. It has two swimming pools, a 13-car garage and a dock with two boat lifts.
Bought in 2021 for $28 million by a land trust managed by City National Bank of Florida, the estate is completely rebuilt on the same footprint by Siobhan Zerilla, principal of Bluedoor Building.
It’s listed by Corcoran Group agents Candace Friis and Phil Friis.
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Boca Raton Airport was named a recipient of a General Aviation Safety Award presented by the Federal Aviation Administration.
The award, made on Feb. 4, recognizes the Boca Raton Airport Authority’s commitment to safety practices and innovations in 2023.
“Our team has always put safety first and it’s gratifying to see the FAA recognize our efforts,” said Clara Bennett, the Airport Authority’s executive director.
Keys to the airport’s receiving the honor were its prioritization of safety in all aspects of the operation and 100% participation in its safety management system — a set of policies, procedures and practices that help manage safety risks.
Criteria for the General Aviation Safety Award are based on the development or implementation of a specific program or activity, or other special and unique accomplishments, involving the operation of an airport that resulted in enhanced safety, according to the FAA.
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The Ark Dog Services celebrated the opening of its new location at 1406 N. Federal Highway, Boynton Beach, with a “yappy hour” in January.
In 2019, The Ark provided a grooming service and operated out of a garage. In 2022, the company expanded to operate out of two garages and added day care and boarding services.
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The Boynton Beach Online Chamber of Commerce appointed Maria Rowley as its chief operating officer. Rowley is a personal stylist for J.Hilburn, a company that specializes in men’s custom clothing.
Christine D. Roberts-Kelly, founder and CEO of Intention Enterprises, was appointed executive vice president. Patti Ann Leonaggeo, a licensed insurance agent representing Aflac and owner of Leonaggeo Benefits Inc., was appointed chair of the Chamber’s Ambassadors.
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Joseph Colon was named concierge for El-Ad National Properties’ Alina Residences Phase Two in Boca Raton. Previously, he served as hotel concierge at the Eau Palm Beach Resort & Spa in Manalapan. Ahmed Abbas was named assistant property manager for Alina 220. Previously, he was an operational manager for Harbour Investment Co. Ltd. in Dubai.
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Joann Fabric and Crafts, which has 850 locations across 49 states, will be closing all of its stores in coming weeks, including the one at 1632 S. Federal Highway in Boynton Beach.
A spokesperson from the Boynton location said the store is expected to close at the end of March or when inventory is sold.
The company, headquartered in Ohio, has been the nation’s leader in sewing and fabrics with one of the largest arts and crafts collections. Joann filed for bankruptcy a second time in less than a year in January after first filing in March 2024.
The company initially said only about 500 of its stores would close as a result of a comprehensive sale process and auction, but the “winning bidders plan to begin winding down the Company’s operations and conduct going-out-of-business sales at all store locations,” Joann said in a Feb. 23 statement.
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The Girl Scouts of Southeast Florida’s “Cookies for the Military” program invites the community to donate boxes or cases of Girl Scout cookies that will be sent to service members stationed in the U.S. or overseas.
Last year, nearly 58,000 boxes were donated, and this year’s goal is to donate 75,000 cookie boxes.
The community can contribute by purchasing a box at $6 or a case for $72 through any local Girl Scout or by visiting www.cookiesforthemilitary.org.
Contributions also support the efforts of the Girl Scouts to foster financial literacy and leadership skills, including budgeting, customer service and goal-setting.
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During 2024, 26 members of the Delray Business Partners, one of the Greater Delray Beach Chamber of Commerce’s leads groups, generated more than $320,738 of gross sales by doing business with one another and by referring their colleagues to other potential clients.
For information on Delray Business Partners, visit delraybusinesspartners.com.
Rich Pollack contributed to this column.
Send business news to Christine Davis at cdavis9797@gmail.com.
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