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Venture

Robert Trigaux

Florida's lucky 10 in lean VC investing days

2

February

Venture capitalists investments in the fourth quarter of 2008 totaled $5.4 billion in 818 deals nationwide, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association (NVCA), based on data from Thomson Reuters. That's the lowest amount of dollars invested since the first quarter of 2005 and a 26-percent drop from the $7.3 billion invested in the third quarter of 2008.

Ten Florida companies received venture capital in the fourth quarter. More on those ten below.

For all of 2008, venture capitalists invested $28.3 billion in 3,808 deals in 2008, marking the first yearly decline of total investments since 2003. Venture investments in 2008 represented an 8 percent decrease in dollars and a 4 percent decrease in deal volume from 2007.

Dollars invested in the clean technology sector grew more than 50 percent in 2008. Companies in the seed stage of development also received more money in 2008, reaching the highest level seen since 2000. "As we emerge from an extremely difficult year, the venture capital industry is holding
its own and taking steps to adjust to the new reality," said Mark Heesen, president of the
NVCA. "The quarterly decline in investment was not unexpected as market uncertainty
took its toll on venture activity. Venture capitalists are being cautious with their dollars
which, in this environment, is the right strategy."

The Florida Venture Capital Conference kicks off its annual event on Tuesday, Feb. 3, in Naples. Seventeen Florida firms will pitch what makes them worthy of venture capital.

-- Robert Trigaux, Times Business Columnist

Click here to see which ten Florida companies received venture capital investments in the fourth quarter of 2008:

These ten Florida companies received venture capital investments in the fourth quarter of 2008:

1. Anansi Networks, Inc. (DBA: Spectrum Bridge, Inc.)
Lake Mary, FL 32746

Funds Received: $8,100,000
Financing Sequence: 2
Stage of Development: Early Stage

Industry: Media and Entertainment
Description: Provides wireless communication system technologies.

Investors in Q4 2008 :
Espirito Santo Tech Ventures
TD Capital Group Ltd. (AKA: Toronto Dominion Capital)
True Ventures
Undisclosed Firm

2. Avant Healthcare Professionals, Inc.
Winter Park, FL 32792

Funds Received: $1,000,000
Financing Sequence: 3
Stage of Development: Expansion

Industry: Healthcare Services
Description: Provides trained nurses and therapists on contract with US hospitals.

Investors in Q4 2008 :
LFE Capital (FKA: L Frecon Enterprises)

3. Axerra Networks, Inc.
Boca Raton, FL 33431

Funds Received: $1,000,000
Financing Sequence: 8
Stage of Development: Expansion

Industry: Telecommunications
Description: Develops products for Internet Protocol (IP) infrastructures.

Investors in Q4 2008 :
HarbourVest Partners LLC

4. Expert Real Estate Services, Inc.
Deerfield Beach, FL 33442

Funds Received: $1,500,000
Financing Sequence: 2
Stage of Development: Expansion

Industry: Financial Services
Description: Operates an online real estate company.

Investors in Q4 2008 :
Baker Capital Corp.

5. LOC-AID Technologies, Inc.
Boca Raton, FL 33487

Funds Received: $8,152,000
Financing Sequence: 3
Stage of Development: Expansion

Industry: Software
Description: Develops turnkey systems and customized wireless mobile data solutions.

Investors in Q4 2008 :
Intersouth Partners
Undisclosed Venture Firm

6. Nueva Cocina Foods, Inc.
Miami, FL 33138

Funds Received: $600,100
Financing Sequence: 2
Stage of Development: Expansion

Industry: Consumer Products and Services
Description: Operates as a retailer of Latin food.

Investors in Q4 2008 :
Antares Capital Corporation (FKA: Harbor Ventures Corp.)
New World Angels, Inc.
Undisclosed Firm

7. NYPD Pizza Development, LLC
Orlando, FL 32835

Funds Received: $400,000
Financing Sequence: 1
Stage of Development: Later Stage

Industry: Consumer Products and Services
Description: Operates a New York-themed pizzeria and Italian restaurant.

Investors in Q4 2008 :
Main Street Capital Partners, LLC

8. Real Estate Channel
Orlando, FL 32819

Funds Received: $500,000
Financing Sequence: 3
Stage of Development: Later Stage

Industry: Telecommunications
Description: Operates as a global web based News and Property Information media network.

Investors in Q4 2008 :
Gerrity Capital Partners, LLC (FKA: MultiChannel Ventures)

9. Renal CarePartners, Inc.
Hollywood, FL 33021

Funds Received: $10,000,000
Financing Sequence: 2
Stage of Development: Expansion

Industry: Healthcare Services
Description: Operates as a specialized kidney dialysis services company.

Investors in Q4 2008 :
Montreux Equity Partners
Noro-Moseley Partners

10. SkyCross, Inc.
Viera, FL 32940

Funds Received: $23,000,000
Financing Sequence: 6
Stage of Development: Later Stage

Industry: Telecommunications
Description: Provides antenna-centric radio-frequency (RF) solutions.

Investors in Q4 2008 :
Gabriel Venture Partners
Investor Growth Capital, Inc.
Undisclosed Firm
Undisclosed Venture Firm

[Last modified: Tuesday, June 1, 2010 12:23pm]

    

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