Florida venture capital surged in Q3 MoneyTree Report, but that’s thanks to one mega-round

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Florida venture capital looked strong in the third-quarter, but it was mainly due to one company’s outsized funding round. And it wasn’t Magic Leap.

According to the MoneyTree Report from PricewaterhouseCoopers and CB Insights released Wednesday, the $1 billion funding round by Fanatics, a sports fan e-commerce company based in Jacksonville, pushed the state’s numbers to $1.08 billion across 15 deals. In August, Softbank’s Vision Fund led the round in Fanatics. Q3’s total was up sharply from $299 million in Q2.