Fund of Funds Program
Launched in 2008, the Fund of Funds (FoF) Program was created to realize significant long-term capital appreciation by identifying and investing in a diversified, high-quality portfolio of venture capital funds that target (in whole or in part) investment opportunities within Florida.
The State of Florida provided $29.5 million to initially capitalize the Fund of Funds Program.
FOF seeks to invest in experienced and emerging managers who are actively involved in and can commit to making investments with the State of Florida.
If you would like to be considered for the Fund of Funds program, please submit a completed questionnaire along with the requested documents for review. The questionnaire provides potential managers with a general understanding of what the State looks for in new managers, including investment & fund management experience, and involvement that supports Florida’s economy and the venture ecosystem within the state.
FOF is always accepting questionnaire submissions for consideration.We will be promptly reviewing and responding to all submitted questionnaires regardless of program status. If you do not receive a response in five (5) business days, please reach out through the “Contact Us” form.
How large is the Fund of Funds program?
The program was seeded with $29.5M from the State of Florida in 2008.
What is the FoF Program’s commitment size?
FoF currently seeks to make commitments of $1-3M.
What is the criteria for consideration?
Please complete the Fund of Funds questionnaire and provide the requested documents to initiate the process of consideration. The State looks to invest in managers with experience and a positive track record of investments, especially within the State of Florida, and encourages managers to be as active in the ecosystem as possible. A fund is required to have closed on at least $10M in commitments before FoF consideration.
Are there any requirements attached to a FoF commitment?
Every fund that receives an investment from the Florida Opportunity Fund(FOF) must sign a side letter that includes a commitment to invest at least twice FOF’s commitment into Florida-based companies.