Florida Opportunity Fund

What Florida Opportunity Fund does

Florida Opportunity Fund (FOF) is a state-chartered venture capital organization established in 2008 by the State of Florida and headquartered at 800 North Magnolia Avenue, Suite 1100, Orlando. It deploys capital through three discrete programs seeded with approximately $107.5 million of public funding: the Florida Venture Capital Program (FLVCP, ~$42M via the Small Business Jobs Act of 2010), the Fund of Funds Program ($29.5M, 2008), and the Clean Energy Investment Program (~$36M via the American Recovery and Reinvestment Act). It targets Florida-nexus companies and fund managers across six verticals: Technology & Software, Life Sciences & Medical Devices, Clean Energy, SpaceTech/Aerospace/Defense, Advanced Manufacturing & Logistics, and Other Emerging Technologies, with a portfolio of more than 50 companies.

FOF's products are investment vehicles rather than commercial software. The FLVCP writes direct equity into early-stage companies; the Fund of Funds Program commits $1-3M to VC fund managers with at least $10M in closed commitments, requiring 2x matching into Florida-based companies; the Clean Energy Investment Program funds deployment of energy-efficient and renewable technologies. Deal flow originates from bi-weekly Open Door Pitch Sessions, ecosystem relationships via board affiliations with the University of Miami Herbert School of Business and the Global Entrepreneurship Network, and recurring co-investment with DeepWork Capital. There is no disclosed management fee, carried interest schedule, or pricing model in the public record.

FOF generates returns through equity appreciation and fund-of-funds economics on its ~$107.5M program capitalization; commercial revenue is not applicable. Recent activity (2025-2026) shows participation in Series B and growth rounds alongside tier-1 firms such as Andreessen Horowitz, Riverwood Capital, Bpifrance, and the European Innovation Council, indicating rising check sizes and ecosystem prominence within Florida. The organization operates with a board of seven (Chair A.J. Ripin, Directors Brandon Detweiler, Garrett W. Johnson, Susan Amat, Tom Iarossi, plus Interim President Matt Swanson and Secretary/Interim Treasurer Lorna Dusti) and a parent relationship to the State of Florida as a government state entity.

Name

Florida Opportunity Fund

Legal name

Florida Opportunity Fund

Website

https://floridaopportunityfund.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

Florida Opportunity Fund is a state-chartered venture capital organization deploying approximately $107.5 million across three programs (direct early-stage equity, a fund-of-funds, and clean energy) into Florida-nexus startups and VC managers across six target verticals including technology, life sciences, aerospace, and clean energy.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

SDG / Thematic Sustainable Investment Funds (FSANAJAN)

akta.pro secondary industries

Renewable Energy & Energy Transition Funds (FSANAJAB), Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD), Impact Investment & Development Investment Funds (BPADACAO)

Keywords

• Venture capital investing
• Early-stage funding
• Fund of funds
• Clean energy financing
• Startup capital programs

Headquarters

HQ city

Orlando

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Venture Capital Returns: FOF generates returns through equity investments in early-stage portfolio companies and fund of funds investments. The organization was capitalized with approximately $42M for the Florida Venture Capital Program, $29.5M for the Fund of Funds Program (2008), and $36M for the Clean Energy Investment Program through the American Recovery and Reinvestment Act.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Florida Opportunity Fund is a state-sponsored venture capital organization that deploys approximately $107.5M in program capital into Florida's innovation economy. It invests through three programs: the Florida Venture Capital Program (direct equity in early-stage companies), the Fund of Funds Program ($1-3M LP-style commitments to VC fund managers with a 2x Florida investment matching requirement), and the Clean Energy Investment Program (funding for energy-efficient and renewable energy technologies).

Product overview

Florida Opportunity Fund operates as a venture capital fund with three distinct investment programs: the Florida Venture Capital Program (FLVCP) for direct investments in early-stage companies, the Fund of Funds Program for investing in VC fund managers with a Florida nexus, and the Clean Energy Investment Program (CEIP) for renewable energy and energy efficiency technologies. The Fund focuses on six target industries: Technology & Software, Life Sciences & Medical Devices, Clean Energy, SpaceTech/Aerospace/Defense, Advanced Manufacturing & Logistics, and Other Emerging Technologies. The Fund maintains a portfolio of over 50 companies across various stages and sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Florida Venture Capital Program (FLVCP)
• Fund of Funds Program
• Clean Energy Investment Program (CEIP)

Quantifiable outcome

• Fund of Funds requires 2x matching investment in Florida companies

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Connecticut Innovations: Connecticut's quasi-state venture capital fund, providing equity and debt financing to Connecticut-based startups. Most directly comparable as a state-sponsored VC fund with similar mission of regional innovation economy development and direct + fund-of-funds deployment.
• Ben Franklin Technology Partners: Pennsylvania-based state-funded seed and early-stage investor providing capital to tech and life sciences startups. Comparable as a state-sponsored regional VC fund operating across multiple programs with similar check size and stage focus.
• MassVentures: Massachusetts' state-affiliated venture fund that invests in early-stage, high-growth Massachusetts companies across tech, life sciences, and cleantech. Directly comparable as a state-sponsored VC fund targeting early-stage regional companies in similar target industries.

Regional players

• DeepWork Capital: Florida-focused early-stage VC firm that co-invests frequently with Florida Opportunity Fund in the same Florida-based portfolio companies. Comparable as a regional VC focused on Florida startups but operating as a private firm with no state mandate.
• Maryland Technology Development Corporation (TEDCO): Maryland's state-funded seed and early-stage investor supporting technology startups. Comparable as a state-sponsored regional VC fund deploying capital across multiple programs targeting innovation economy development.
• Illinois Innovation Network / Illinois Ventures: Illinois-affiliated venture capital entity investing in Illinois-based technology companies. Comparable as a state-/university-affiliated regional VC fund with similar mission of growing a state innovation economy.

Broad incumbents

• Ohio Third Frontier: Ohio's state technology-based economic development program providing capital to Ohio-based tech startups. Comparable as a state-sponsored regional innovation VC with similar mission and direct investment deployment model.
• In-Q-Tel: Federally-sponsored, CIA-affiliated not-for-profit VC firm investing in cutting-edge technologies. Comparable in being government-affiliated VC deploying capital into strategically important emerging technology sectors, though at significantly larger scale and national scope.
• NY Ventures (Empire State Development): New York State Development's venture capital arm, deploying state capital across direct investments and fund-of-funds to grow NY's innovation economy. Directly comparable as a state-sponsored multi-program VC fund with similar direct investment and fund-of-funds mandates.
• CalCAP (California Capital Access Program): California state program supporting small business financing through partner financial institutions. Comparable as a state-sponsored capital deployment program, though structured differently as a credit program rather than direct VC.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments83 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Florida Opportunity Fund