VC investment rises sharply in Florida

January 17, 2014

SE mapThe Miami Herald recently reported that venture capital investment in our state doubled from 2012 to 2013 and was the best year since 2004.

Nationally, venture capital investments rose to $29.4 billion (in 3,995 deals), an increase of 7% in dollars (4% in deals) over 2012, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association.

The article also quotes BPV partner Matt Rice on the state of the healthcare, life science, and technology-enabled business services sectors and Florida’s attractiveness to entrepreneurs and investors:

Even though life sciences may have fallen out of favor during the recession, “I do see the sector as rebounding — 2013 was a very successful year for life science IPOs,” said Rice…

Looking ahead, Rice believes that in addition to healthcare, which will see “quick and massive change,” companies in technology-enabled business services will also see continued investor interest. He sees software-as-a-service platforms becoming much more specialized and industry specific.

To be sure, Florida’s take is still a tiny slice of the total venture capital pie — in 2013 it was just 1.4 percent for the country’s fourth most populous state.

But that old VC adage still applies — money follows opportunities. “The entrepreneurs are here, the opportunities are here, compared to California it’s a much more business friendly state, colleges are providing the talent,” said Rice. “This combination over time will attract more capital to the state.”

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