Without Magic Leap, South Florida’s venture capital plunges 80% year-over-year

    0
    102

    The amount of venture capital deployed to startups across South Florida decreased 9 percent on a quarterly basis, according to a new report by PricewaterhouseCoopers and CB Insights. Without Magic Leap – always an outlier in investment data for the tri-county region – the year-over-year drop is significantly bigger.

    PwC/CB Insights’ MoneyTree report, which tracks VC investment to U.S. companies, shows fewer dollars were deployed to local startups in Q1 2018, compared to the fourth quarter of 2017.

    In Q1 2018, VCs invested a total of $487.11 million in South Florida companies. In 2017 Q4, VCs invested $535.15 million. In both quarters, Magic Leap captured more than 90 percent of all VC dollars deployed to South Florida.