Seven Central Florida Firms Win Venture Capital Funds

ORLANDO-New Florida businesses received $81.4 million in first-quarter venture capital funds, 60% less than the comparable 2000 period and the lowest amount in four years, PricewaterhouseCoopers says in its quarterly National Venture Capital Money Tree survey.

Startup companies are having the most difficulty attracting venture funds, the survey finds. The majority of the investors are putting their money in ventures closer to home where they can better monitor the progress of a new company.

The $81.4 million investment in new Florida firms represents 1.3% of the total venture capital funds committed nationally in the first quarter. Nationally, funds were down 50% from first quarter 2001.