By Nancy Dahlberg
Yes, 2023 was a bad year for venture capital. Yes, the metropolitan region of Miami-Fort Lauderdale fell hard, like other markets. But in 26 -page data Information emergence report Exit today are interesting results and trends in the place where money flows and why there are reasons for optimism – Perhaps prudent optimism – around 2024.
First, the higher conclusion: $ 2.41 billion was invested in startups in southern Florida and companies at a subsequent stage in 2023 in 393 offers. Compare this to the $ 5.8 billion out of 426 transactions collected in 2022.
However, after the record years of our region in 2021 and 2022, it was the third highest year for the activity of venture capital. The 2023 data also show that the number of transactions has resisted, showing that startups were still funded, just with much smaller laps. In fact, we did not see any mega-round closed in 2023, according to our data; This has not happened since 2015.
The metropolitan region of Miami-Fort Lauderdale ranked 7th In the country for the number of transactions and the 11th for dollars of venture capital which flow in the ecosystem.
The report, produced by emerge the Americasis a complete deep dive into the data. In my research for the report, I analyzed the funds of 2023 using data from the Pitchbook, Crunchbase, Dealroom and Refresh Miami agreement, after checking the information and eliminated erroneous or in progress agreements, and I I looked for ideas and trends in sectors, stages, sources of money and more. I have covered venture capital in the Miami region for more than a decade and I have experienced a regular increase, but the founding migration and funder during the pandemic increased our venture capital activity to a brand new level.
While Fintech and Medtech continued to be the most active sectors, only one sector is actually climbed from 2022: ClimateTech. In 2023, 263 million dollars were invested in South Florida Climatetech startups on 31 transactions, up dollars and transactions from 202222. This is particularly remarkable because at the national and global scale, the financing of the sector has dropped considerably compared to 2022.
There were other positive trends to report: web3 financing was down but not, for one. New venture capital funds have been launched in our region, including Fund 4 of $ 320 million atomic and the launch of Marcelo Claure and the $ 500 million SHU NYATTA fund. And although it is time for the founders to build, the ecosystem was also down, creating new programs around technological talents, including Miami Tech Works, and the startup increase, such as Miami’s Miami program in Miami.
A trend that continues to torment our region: funds for adventures based on women in southern Florida, even the lamentable national average. More than 90% of the venture capital in southern Florida in 2023 went to teams based on all the ballast in 2023. According to Pitchbook data, startups from southern Florida with at least one founder raised 146 million Dollars in 75 offers in 2023, or 7% of the 7% of people in the activity of venture capital in southern Florida according to data from the Pitchbook agreement, much lower than the largest technological centers and the national average. About 40 million dollars of this total were collected by teams entirely women – it is only 2%, almost nationally. Throughout the state, startups with at least one founder have raised $ 309 million in 124 offers.
Here are some other protruding facts:
- Companies in southern Florida have attracted 69% of dollars flowing to Sunshine State and 59% of transactions.
- Financial technology was again the most active sector in the three counties region, obtaining $ 577 million, 24% of venture capital dollars which take place towards companies in southern Florida and 26% of transactions.
- Medtech attracted the greatest number of financing rounds in the south of Florida, and the sector was a solid n ° 2 in dollars. Medtech companies won 16% of transactions, but without mega-round in the pack, the transactions in dollars dropped in 2023 to $ 362 million in health care companies.
- Startups based in Miami-Dade attracted 69% of the transactions that are headed for companies in southern Florida in 2023. The two large cities for financed startups were Miami, followed by Boca Raton.
- The first cycle of actions of 2023 was the Edtech Scaleup, based in Hollywood, based in Hollywood, with a round of $ 95 million led by GuidePost Equity and including the partners in education and the partners of the Lazard family.
- It was a great year for the financing of the debt: Sellersfi, Marco and Flex each collected at least $ 100,000 in debt funding with their equity cycles.
There is much more in the report, in particular the main transactions, the sectoral breakdowns for the funds in the AI, the Fintech, the Medtech, the ClimateTech and the Web3, the 2023 outputs and the results of the State. Indeed, Florida also had its third best year of VC files ($ 3.5 billion) and the 2nd best for offers.
Download the Emerge Insights report here.
For the future, during the 10 -week editorial staff in 2024, companies in the three counties zone have so far produced around $ 360 million, my preliminary estimate and update Miami reports. It is largely ahead of the pace of funds at that time last year. Stay listening!
Learn more in Refresh Miami:
- What will be new to Émerge America this year? Who is seizing? Here is the bottom – February 3, 2025
- More than 10 things to know in #Mimitech: Amazon chooses Wynwood, plus News by Research Park at Fau, Togal, Brightline, Doodles, Kind Designs, Emerge, Impactif, Avenuez and Plus – January 31, 2025
- UM to be the main test site for Neuralink, the startup of Elon Musk’s brain chip – January 27, 2025