Launched in 2008, the Florida Opportunity Fund provides venture capital to emerging Florida companies, leverages additional capital resources, builds relationships with experienced entrepreneurs to lead growth companies, and partners with other organizations to strengthen the early-stage finance ecosystem in Florida. Since its inception, the Florida Opportunity Fund has made direct investments in 25 companies and 8 venture capital funds. Based on the information provided by those companies, more than 4,600 Florida jobs have been created or retained as of June 30, 2019.
Sections 288.9621-288.9625 of the Florida Statutes, collectively referred to as the Florida Capital Formation Act provided for the creation of FOF. FOF is a not-for-profit corporation and, by statute, is not an instrumentality of the State of Florida. An initial capital appropriation of $29.5 million from the state in 2008 has been leveraged with funds from federal sources to create three investment programs within FOF that aggregate to over $100 million of capital.