VC INVESTMENT IN FIRST HALF HOLDS UP. WHAT DO THE TRENDS TELL US?

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    The pandemic hit the Miami-Fort Lauderdale metro area hard in the first half, but it could have been worse. Earlier this month we told you about the 2nd quarter numbers, lifted greatly by Magic Leap’s $350 million raise. Of course, the pandemic is taking a bigger and bigger toll, and there is a lot of year left. But today we take a deeper dive into the first half. What do the first half numbers tell us?

    How do the numbers compare?  Companies in the tri-county area raised $670.87 million across 75 deals, according to Pitchbook data. That’s down from $1.7 billion across79 deals in the first half of 2019. Both halfs included mega deals – in 2019 it was REEF Technology and in 2020 it was Magic Leap. 1H 2018 was also higher at $1.2B, but it is still the third highest total tracked by Pitchbook for our region. South Florida brought in nearly three-quarters of the statewide total of $915 million in the first half.