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Entrepreneurs in Florida and nationwide who seek venture capital are going to have to shake the money tree a little harder.
Florida posted a 34% drop in venture capital invested in the second quarter compared with the same quarter one year ago, according to The MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters.
That mirrors the slowdown nationally. The report says companies in the U.S. raised $15.3 billion in venture capital in the second quarter, down 12%. That sum is up 20% from the first quarter and is the tenth consecutive quarter with more than $10 billion in quarterly venture capital invested.
The Tampa Bay region was the only major area in Florida that posted a year-over-year increase in venture capital investments in the second quarter. The region also beat Miami and Orlando in total amount of venture capital funding in the second quarter, the report shows.
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