Florida’s share of venture capital drops in 1st quarter

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Author: Richard Burnett
Publisher: Orlando Sentinel
Date: April 18, 2014

Florida’s slice of the nation’s venture-capital pie shrank dramatically in the first quarter as deep-pockets investors steered much of their wealth elsewhere, according to the latest survey of U.S. venture capital firms.

Companies in the Sunshine State attracted nearly $72 million from January to March, down 86 percent from $132 million in the prior quarter, the study said. Florida fell to 14th among all states after ranking eighth in the fourth quarter of 2013 — its best quarter in six years.

Nationwide, venture-capital firms invested $9.5 billion during the most recent quarter, an increase of 12 percent from the previous period, according to the MoneyTree Report, published by PricewaterhouseCoopers and the National Venture Capital Association and based on Thomson Reuters data. Read more here.