South Florida Ranks No. 1 In State For First Quarter 2017 Venture Capital Deals

Written by on 04.06.17 in Economy, Geo-Demographic Trends - No comments

There were 29 venture capital deals in Miami-Fort Lauderdale-Pompano Beach metropolitan area in the first quarter of 2017, according to the PitchBook-NVCA Venture Monitor.

Those deals had a total value of $151.05 million, the report said. Business, government and civic leaders have been focused on incubating a thriving startup climate in South Florida, and venture capital investing is one sign of the strength of those initiatives.

There were 63 deals in Florida, with total deal value of $244.19, and Florida ranked No. 7 among the states for deals in Q1 2017. South Florida was the most active among Florida metro areas for venture capital investing in the quarter. Tampa and Orlando ranked No. 2 and No. 3, respectively, for number of deals. PitchBook-NVCA did not identify the local deals.

Nationwide, investors deployed $16.5 billion to 1,797 venture-backed startups in Q1 2017, PitchBook-NVCA said. It was the fewest number of companies to receive investments since Q4 2011, but PitchBook-NVCA said there were “significant peak investment levels” between 2014 and 2016, so the deceleration that started in the last part of 2016 and continues into this year indicates a steadier pace of investment.

“Investors and entrepreneurs are returning to a more disciplined approach,” said John Gabbert, founder and CEO of PitchBook.

“After seeing large pools of capital raised in recent quarters, venture investors will continue to have dry powder to deploy to the entrepreneurial ecosystem, albeit with a more disciplined approach,” said Bobby Franklin, president and CEO of NVCA. “Combined with a positive outlook for a strengthening IPO environment for venture-backed companies, there is much to be optimistic about in 2017.”

Florida Metros-Q1 2017 Venture Deals

MSA Deal Count Deal Value ($M)
Miami-Fort Lauderdale-Pompano Beach 29 $151.05
Tampa-St. Petersburg-Clearwater 14 $54.56
Orlando-Kissimmee 6 $7.76
Gainesville 5 $14.08
Jacksonville 2 $7.99
Sarasota-Bradenton-Venice 2 $1.03
Lakeland 1 $1.00
Cape Coral-Fort Myers 1 $3.25
Pensacola-Ferry Pass-Brent 1 $0.13
Source: PitchBook-NVCA Venture Monitor

 

Source: SFBJ

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