Jul. 29–Florida’s emerging companies raised nearly $45.7 million from venture capital investors during the second quarter, a 20-percent decline from the $57.4 million raised in the first threemonths of the year.<\/p>\n
Nationally, the results of the PricewaterhouseCoopers\/Thomson Venture Economics\/National Venture Capital Association MoneyTree survey went in a different direction. The two-year decline in venture financing ended in the second quarter, with $4.3 billion raised, up from $4.0 in the first quarter of 2003.<\/p>\n
But investment bankers and venture capital specialists aren’t ready to say this is the beginning of a new wave of venture investing. They say the IPO market needs to pick up and capital expenditures need to be on the rise.<\/p>\n
Fourteen deals were done by Florida companies, up from 11 in the first quarter. Six South Florida companies got financing. As is the norm in Florida, the bulk of the money went to companies seeking their second, third or fourth round of financing. Only two start-ups raised money.<\/p>\n
Seven of the 14 deals, or 50 percent, were done by technology companies. During the late 1990s Internet boom, about 70 percent of the deal were high-tech.<\/p>\n
Intellon Corp. in Ocala, which develops integrated circuits, pulled in $20 million from seven venture funds all outside of Florida.<\/p>\n
West Palm Beach-based RxStrategies raised $7.8 million from HIG Capital Management and Lovett Miller, two Florida-based funds and Select Capital Ventures.<\/p>\n
—–<\/p>\n
To see more of The Miami Herald — including its homes, jobs, cars and other classified listings — or to subscribe to the newspaper, go to http:\/\/www.herald.com.<\/p>\n
(c) 2003, The Miami Herald. Distributed by Knight Ridder\/Tribune Business News.<\/p>\n","protected":false},"excerpt":{"rendered":"
Jul. 29–Florida’s emerging companies raised nearly $45.7 million from venture capital investors during the second quarter, a 20-percent decline from the $57.4 million raised in the first threemonths of the year. Nationally, the results of the PricewaterhouseCoopers\/Thomson Venture Economics\/National Venture […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-574","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=574"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/574\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}