Friday's Afternoon Update
What you need to know about Florida today
Venture capital up in Florida - but still only a small slice of U.S. total
South Florida took the lion’s share of the $104 million venture capitalists invested in Florida companies in the third quarter of 2013, according to a new MoneyTree Report. Eight deals in South Florida took $71.71 million of the statewide total. Year-to-date, the $277 million in venture funding in Florida is up 75 percent over the first three quarters of last year. Yet Florida companies only account for a tiny fraction -- 1.3 percent -- of the U.S. venture capital pie. Venture capitalists invested $7.8 billion in 1,005 deals in the third quarter across the country, with California leading the pack. [Source: Miami Herald]
- Related, from Business Florida: Florida's Venture Capital Firms
- From Florida Trend: Venture Capital bounce in second quarter
IN CASE YOU MISSED IT
Interest from foreigners in Florida residences is spreading to properties throughout the state. In 2012, one in five sales of Florida homes was to a non-resident foreigner.
“We deal with lots of Germans and Canadians on the southwest coast of Florida. Down in Miami and central Florida, we’re seeing lots of Brazilian activity,” says Kelly Cutchin, USA country manager for Moneycorp (in photo). » Read more
Citrus, vegetables had a good 2012 in Florida
Florida's Department of Agriculture released a 1 report Friday showing that citrus fruits, snap beans and cucumbers grown in the Sunshine State are among the industry's highlights. Florida is first in the nation in the value of production of oranges, grapefruit, fresh market snap beans, cucumbers for fresh market, cucumbers for pickles, squash, sweet corn, fresh market tomatoes, sugarcane for sugar and watermelons. [Source: AP]
Port Richey inventor's Magical Butter machine gets 'high' marks from foodies, stoners
Garyn Angel of Port Richey, Florida, has invented a machine that is making serious waves. It is Magical Butter, touted as the world's only botanical extractor, pulling plant nutrients directly into butter, cooking oils, alcohol and lotions. Need a decoder? It's helpful in making pot brownies and late-night pizza with that extra little something. [Source: Tampa Bay Times]
» FRIDAY PREVIEW: Coming next week to FloridaTrend.com:
- Home building: Legal decision could mean more liability for developers:
Developers and home builders face potential new legal liabilities for shoddy infrastructure work after a homeowners association in west Orange County won a landmark case before the Florida Supreme Court.
- Rental rush: Demand for rentals in South Florida: Post-real estate bubble, demand has soared for rentals, vacancies have plummeted and rents have begun to rise.
- Business profiles: We look at Ovations Food Services in Southwest Florida, a website called CollegeFrog that has been built for accounting and finance students, and a bank in Jacksonville.
» You'll find all these stories first on the Daily and Afternoon Pulse e-mails.
In case you missed it: