E122: The Florida Opportunity Fund Identifies and invests in early growth stage companies

Venture In The South

E122: Economic Development is at full throttle with the Florida Opportunity Fund (FOF). They are focused on Seed and Series A tech startups with ~$150M+ deployed to date. FOF is currently pursuing four specific efforts:

1. The FLORIDA VENTURE CAPITAL PROGRAM (FLVCP), founded in 2011, invests in emerging Florida companies in sectors with strategic importance to the state. FLVCP typically invests $1M - $3M into Seed through Series B stage companies.
2. The FUND OF FUNDS PROGRAM (FOFP) invests into venture capital funds with significant operations and track record investing within Florida.
3. The CLEAN ENERGY INVESTMENT PROGRAM (CEIP) invests directly into companies enabling the adoption of energy efficient and renewable energy products and technologies.
4. The EQUITY CAPITAL PROGRAM (ECP), Founded in 2023, invests in emerging
   Florida companies in sectors with strategic importance to the state. ECP has the additional objective in supporting companies owned by Socially and Economically Disadvantaged Individuals (SEDI).

Together FOF has 43 active portfolio companies and invested in 14 Venture Funds for a total of $150M+ capital committed/Invested and $5.5B private capital mobilized with
5,000+ jobs created. David interviews Robert Harvey, the President and Executive Director of the FOF, about the FOF's investing strategy and future plans. (recorded 5/31/24)

Erratum: Robert Harvey received his undergraduate degree from Eastern Illinois University. It was incorrectly stated as from Southern Illinois University.

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