If you’re in venture capital deficient East or West Tennessee, does this experience from Florida sound somewhat familiar?
The scene was two years ago when Kirenaga Inc. was preparing to launch its Central Florida Tech Fund to somewhat uncertain investors. As described in this recent article in Orlando Inno, the investors kicked their money into the fund, primarily focused on early stage investments in tech companies between the Gulf Coast and Space Coast, but they were curious if they would get their money back if Kirenaga failed to find enough investable companies.
Kirenaga Partner Jim Thomas told Orlando Inno. “I said ‘Are you kidding me?’” Instead of struggling to find companies, the fund is going strong, and Kirenaga plans to raise $100 million and invest in 15 to 20 start-ups over three years.