The Traub Accelerator, a division of Marvin Traub Associates, is stepping on the brakes.
The accelerator has five companies in its portfolio and no room for any more, according to Mortimer Singer, MTA’s president and chief executive, and Stephen Sadove, cofounder of Traub Accelerator.
“We don’t have the capacity to take on anything new,” said Sadove, the former chairman and ceo of Saks Fifth Avenue.
Traub Accelerator is focused on linking brands, designers, retailers, restaurants and other sectors with new technologies.
Singer said Sadove continues to drive Traub Accelerator and serve as an adviser to MTA and a member of its board. Sadove joined Traub in June 2014. However, Sadove said MTA is not a full-time commitment for him.
The five companies in Traub Accelerator include Orchard Mile, a multibrand luxury shopping experience across all digital platforms; PowaTag, which enables consumers to bypass the traditional checkout process, and Skylark, a luxury travel Web site. Singer declined to disclose the other two companies.
Sadove said he personally invested in all five companies and that he also invests in companies separately.