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Venture capital deals in Florida improving but remain puny compared to states like California

Fourteen private companies in Florida received a total of $114.6 million in venture capital funding in the first quarter of 2011. That compares to 14 Florida deals funded by only $48.3 million in the same quarter of 2010, according to the MoneyTree survey from PricewaterhouseCoopers and the National Venture Capital Association. Four of those 14 Florida firms funded in this year's first quarter are from the Tampa Bay area and include: health care service provider Health Integrated Inc., Tampa ($89,000); software maker Motivano Inc., Tampa ($850,000); fiber optic telecommunications provider Tower Cloud Inc., St. Petersburg ($12.5 million), and hardware products wholesaler Vology Data Systems, Oldsmar ($20 million). Florida venture capital experts say the market is improving for venture capital but acknowledge the state, for its size, remains seriously underfunded. By comparison, in the first quarter of 2011, 270 California firms received a total of $3 billion in venture capital, the MoneyTree survey said.

Venture capital deals in Florida improving but remain puny compared to states like California 04/19/11 [Last modified: Tuesday, April 19, 2011 5:08pm]

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