Florida Funders celebrates one-year anniversary;
Funding model is unique in Florida; now accepting more investors
TAMPA BAY – Florida Funders, an online venture capital company that matches startups with accredited investors, is celebrating its one-year anniversary.
And, Florida Funders is now accepting accredited investors to participate in its funding model, which is unique in Florida. For more information, please visit www.floridafunders.com.
“We’ve been so busy and the past year has flown by so quickly that our first anniversary in business actually caught us by surprise,” said David Chitester, CEO, who co-founded Florida Funders with his wife, Kathleen, in September of 2013. “We are excited to be an important component of the entrepreneurial ecosystem in the State of Florida.”
In addition to David and Kathleen Chitester, the Florida Funders team includes well-known and respected business builders Irv Cohen, Managing Member; Randy Greene, Managing Member; and Lance Raab, Investor/Advisor.
Dave and Kathleen have started several successful companies themselves, and know how difficult it can be to find adequate funding. In order to help new startups with that challenge, they founded Florida Funders.
NOT THE TYPICAL VENTURE MODEL
A typical venture capital firm first starts a fund, finds high net worth individuals or other entities to invest in the fund, and then identifies companies in which they can invest. Florida Funders, however, first finds companies seeking capital, performs thorough due diligence, and lists them on its website. Accredited investors can then register on the site and view the offerings from these highly curated companies.
A key feature of Florida Funders is that accredited investors may invest in one or as many of Florida Funders’ listed companies as they wish. Investment in some cases may be as little as $1,000.
“Once there is enough interest in funding a company, Florida Funders facilitates the investment by creating a Special Purpose Vehicle to make the investment in the company,” Chitester explained. “Thus, each investor knows their investment is going exclusively to the company they want to invest in.”
The business model was pioneered very successfully by two companies in California, AngelList and FundersClub.