Tech Business

From Sunshine State to Startup State

December 20, 2017 by Florida Funders 1 Comment

Tech Business

From Sunshine State to Startup State

December 20, 2017 by Florida Funders in Tech Business

Florida Funders has come a long way since it was founded by David and Kathleen Chitester in 2013. By June of 2016 they had completed eight crowd funding transactions for six early stage technology companies, totaling just over $1M in capital. In late 2015, Dave and Kathleen knew they needed additional resources to take Florida Funders to the next level, so they solicited the help of veteran, Tampa-based entrepreneurs and angel investors Marc Blumenthal, Tom Wallace, Kevin Adamek, and Marc Sokol. With the help of these and others, Dave was able to garner $2M of investment capital to fund the operations of Florida Funders and bring in a new team in the summer of 2016, to “institutionalize” the business. This allowed Dave and Kathleen to retire peacefully knowing that the company was in good hands and ready for its next phase of growth.

Florida Funders has evolved into a hybrid of a committed venture capital fund and an online equity crowdfunding platform for accredited investors. We are led by an experienced team of serial entrepreneurs, venture capitalists, and experienced angel investors with proven track records of successful exits and a shared passion for growing the next generation of Florida tech companies. Florida Funders is committed to generating strong returns for its investors, while helping start-ups grow into successful enterprises that will positively benefit the Florida business landscape and overall economy.

The focus of Florida Funders continues to be to fuel the growth of the Florida startup community by investing in early stage technology companies. Since June, 2016, we are proud to have invested $3M into Florida-based startups. While the investment focus is on tech and tech-enabled businesses, the breadth of investments that Florida Funders has made and will continue to make is broad: health-tech, digital health, edtech, fintech, cyber security, and even e-commerce. Our current investment range is $250K – $1M, and due to our fund, we have the ability to make a firm investment commitment to founders while allowing the “crowd” to take part in the offering at the same terms as the Fund. This model truly is a win-win for founders and for accredited investors.

We moved to a brand new, modern office space in May, and our team has grown to five full-time employees, led by managing partner, Tom Wallace. Our Fund is now at almost $8M committed, with our goal of $10M by year-end. We host Thirsty Thursdays once a month (2nd Thursday of each month), workshops to benefit the entrepreneurial and tech community, and company presentations to help accredited investors become familiar with the latest companies we are funding. Please make sure to check our online calendar of events often, to keep abreast of happenings.

We are excited for what 2018 will bring. If you are an investor interested in getting involved as a potential “Operating Partner” for one of our portfolio companies, please reach out to saxon@floridafunders.com for details. We believe in the power of our network to collectively help our portfolio companies grow!

For more information on viewing our current offerings and becoming an investor, click here.

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Florida Funders
Florida Funders

Florida Funders is a hybrid of a venture capital fund and crowd-funding platform that invests in early-stage technology companies here in Florida.