Aug. 01--South Florida companies were the most active in attracting venture capital in the first half of the year -- 13 of 25 in the state, according to a new report released by Internet Coast on Thursday.
Mobile Help, a personal emergency alert device company in Boca Raton, and Red Cap, a personal driver company based in Fort Lauderdale, were among the regional companies receiving investments during the second quarter, said Dale Gregory, executive director of Internet Coast, a not-for-profit organization in South Florida. The amounts were not disclosed.
Others were Tyrogenex, a biotech company based in West Palm Beach, and three Miami companies: Aeropost, an energy company, $5.5 million; Admobilize, an IT services firm, $2.2 million; and AviseNA, IT services, $500,000.
In the first quarter, Altor BioScience Corp. of Miramar received $5 million; VirtualWorks Group in Boca Raton, $5.5 million; Brickell Biotech of Miami, $3.6 million; CareCloud Corp. in Miami, which received an undisclosed amount; and Box Ventures of Riviera Beach, $500,000.
Florida businesses raised $185 million from venture capitalists in 25 transactions during the first half of the year. That compares with 26 transactions and $189 million during the first half of 2013.
During the 12 months ended June 30, there were 50 venture capital investment transactions valued at $422 million, compared with 45 transactions and $256 million during the same period in 2013.
Florida's portion of U.S. venture capital investments during the 12 months ended June 30 was 1.1 percent compared with 1 percent during the same period in 2013, Gregory said.
For its report, Internet Coast used data from the MoneyTree Report, produced by PricewaterhouseCoopers and the National Venture Capital Association
firstname.lastname@example.org or 561-243-6650
(c)2014 the Sun Sentinel (Fort Lauderdale, Fla.)
Visit the Sun Sentinel (Fort Lauderdale, Fla.) at www.sun-sentinel.com
Distributed by MCT Information Services