Florida Opportunity Fund

The Florida Opportunity Fund (FOF) was established by the Florida Legislature in 2008 with the strategic aim of bolstering the availability of venture capital within the state. Managed by Enterprise Florida, Inc. (EFI), the state's principal economic development organization, FOF serves as a critical catalyst for innovation and economic growth by fostering a robust venture ecosystem. Its primary objective is to bridge funding gaps for Florida-based companies, ensuring they have access to the capital necessary for growth and expansion.

Operating primarily as a "fund of funds," FOF strategically invests in various venture capital funds that, in turn, commit to deploying capital into Florida companies. Beyond this, FOF also engages in direct co-investments alongside these partner funds, providing additional capital to promising enterprises. The fund comprises key components, notably the Florida Growth Fund (FGF) and the Florida Venture Capital Fund (FVCF). The FGF, a $250 million initiative, focuses on later-stage growth companies, typically making investments ranging from $5 million to $20 million. Complementing this, the FVCF, a $25 million fund, targets early-stage Florida companies with typical investments between $250,000 and $2 million.

Since its inception, the Florida Opportunity Fund has played a pivotal role in stimulating venture investment across the state. Through its various programs, FOF has directly invested over $200 million into Florida's innovation economy. This initial capital has acted as a significant magnet, attracting over $1 billion in co-investments from private sector partners, amplifying the impact on local businesses. The fund's continued efforts are instrumental in nurturing a vibrant entrepreneurial landscape, supporting job creation, and driving technological advancement within Florida.