Florida has emerged as a vibrant and tech-focused venture market, with cities like Miami and Jacksonville leading the way. In this latest report, we delve into the private investing landscape in Florida, gleaning valuable insights from in-depth interviews with VC and PE firms.
In the report we explore:
Florida’s tech-centered ecosystem
The tech sector, particularly Software as a Service (SaaS), stands out as a prominent focus for Florida investors. 88% of the firms we spoke to emphasized SaaS as a significant vertical of interest. However, it’s important to note that these findings primarily reflect early-stage investing. When we broadened our view to include middle market and later stage investors, different preferred verticals emerged.
National versus international outlook
Florida-based firms demonstrate a preference for investing across the United States rather than solely in their local region. Read the report to uncover why they tend to avoid Silicon Valley companies and what the focus is for firms that have expanded their horizons by actively investing in international markets.
Sources of deal flow
In Florida, network referrals are the primary source of inbound deal flow for venture capital firms. These networks extend beyond the state, with Florida-based VCs collaborating with investors from other regions. Additionally, web tools like Qodeo have gained traction as valuable resources for deal sourcing. Several conferences and events within the region, such as the Florida Venture Forum and Miami Tech Month, contribute to deal flow and facilitate networking opportunities.
Focus on teams
Investors place significant emphasis on the strength and qualities of the founding teams. Traits like humility, coachability, determination, and expertise in their product or problem-solving are particularly valued. Given the early-stage nature of many investments, the founding team’s ability to move beyond the minimum viable product (MVP) stage and drive profitability is unsurprisingly crucial.
Download the report to discover more
Download the report to explore more detailed insights on Florida’s venture market. The report offers a comprehensive analysis of the private investing scene across the state, including interviews with industry leaders and an in-depth look at the landscape. Don’t miss out on the opportunity to delve deeper into the exciting world of Florida’s outward-gazing, tech-focused venture market.