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Florida Innovation Capital (FIC) is a private equity fund based in Jacksonville, Florida, established to support innovative startups and later-stage companies. The firm was founded with the goal of fostering economic growth and innovation through diverse perspectives and collaboration. FIC emphasizes the importance of leveraging a Florida-based international network to identify market-ready ideas that demonstrate solid evidence of potential.
Currently, FIC operates with a focus on high-tech startups, primarily in the seed stage, while remaining open to later-stage investments. The firm has not publicly disclosed its fund size or total assets under management (AUM), but it is known for its commitment to supporting visionary founders. The firm has a small team and operates from Jacksonville, a city that is less commonly recognized as a venture capital hub compared to Miami and Tampa.
Florida Innovation Capital employs a sector-agnostic investment strategy, targeting high-tech startups and later-stage companies across various sectors including AI, healthcare, fintech, biotech, commerce, edtech, consumer, and web3. The firm primarily focuses on seed-stage investments, seeking opportunities that transcend traditional boundaries in both geography and industry. FIC's investment thesis centers on identifying innovative solutions that are backed by strong market evidence, ensuring that the companies they invest in have a solid foundation for growth.
FIC is open to opportunities beyond Florida, allowing it to tap into a broader range of innovative ideas and technologies. The firm looks for founders who demonstrate vision and the ability to execute their ideas effectively. By providing capital, strategic guidance, and access to a professional network, FIC aims to enhance the growth potential of its portfolio companies.
Florida Innovation Capital has invested in notable companies such as:
Both companies exemplify FIC's focus on high-tech startups with market-ready solutions. The firm has indicated that it may have additional portfolio companies, as suggested by placeholder rows on its website, but specific details about these companies have not been publicly disclosed.
Michael Munz — Founding Partner/CEO. Michael has extensive experience in venture capital and private equity, focusing on supporting innovative startups. His leadership is pivotal in guiding FIC's investment strategy.
Nicholas Danton — Chief Investment Officer/Partner. Nicholas plays a key role in sourcing and evaluating investment opportunities, leveraging his background in finance and investment analysis.
Tim Stokes — Chief Operating Officer/Partner. Tim oversees the operational aspects of FIC, ensuring that the firm runs efficiently and effectively.
Gwen Griggs — General Partner. Gwen contributes to the investment decision-making process and supports portfolio companies with strategic insights.
Jeff Lyons — General Partner. Jeff brings a wealth of experience in venture capital and is involved in guiding the firm's investment strategy.
Whitney Harper — General Partner. Whitney focuses on identifying promising startups and supporting their growth through strategic guidance.
To pitch to Florida Innovation Capital, founders should reach out via email at info@ficptl.com. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and team qualifications. FIC does not specify a formal application process, but a well-structured email pitch is recommended.
Response times may vary, but founders should expect to hear back within a few weeks. Warm introductions through mutual connections can enhance the chances of receiving a timely response.
Florida Innovation Capital has recently participated in funding rounds for two notable companies: Alteon.io and Third Summit, both of which raised $4.5 million with FIC's involvement. This activity highlights FIC's commitment to supporting innovative startups in the high-tech sector.
As of now, there have been no public announcements regarding new fund raises or leadership changes within the firm. The firm maintains a low public profile, focusing on direct investments through its established network.
What are Florida Innovation Capital's investment criteria?
FIC invests primarily in seed-stage companies across various sectors, including AI, healthcare, fintech, biotech, commerce, edtech, consumer, and web3. The firm seeks innovative solutions that are backed by strong market evidence.
How can I apply or pitch to Florida Innovation Capital?
Founders can pitch their ideas by reaching out via email at info@ficptl.com. It is advisable to include a detailed business plan and information about the market potential of the product or service.
What makes Florida Innovation Capital different from other investors?
FIC emphasizes diverse perspectives and collaboration, leveraging a Florida-based international network to identify market-ready ideas. This approach allows them to support innovative startups effectively.
What is the geographic scope of FIC's investments?
While FIC is based in Florida and prioritizes local startups, it is open to investing in companies outside of Florida, allowing for a broader investment reach.
What type of support does FIC provide to its portfolio companies?
FIC adds value through access to a professional network, strategic guidance, and the capital necessary for growth and innovation. This support is designed to help portfolio companies scale effectively.
What is the typical check size for investments made by FIC?
The specific check sizes have not been publicly disclosed, but FIC primarily focuses on seed-stage investments, which typically range from $100,000 to $1 million.
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