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A Big Quarter for Venture Capital


Tom Hewlett (right), senior scientist at Pasteuria Bioscience, and Bruce Martin, a plant pathologist, apply nematode-killing bacteria on ornamental plants. The company received $5.3 million in VC funding in the second quarter.

Fifteen Florida firms landed $127 million in venture capital in the second quarter, according to the latest Pricewaterhouse-Coopers/ National Venture Capital Association MoneyTree report. In the year-earlier period, VCs invested a little more than half of that amount in Florida companies, $69 million. For the first half of this year, Florida firms nabbed $276 million in VC funding, compared with $129 million in the first six months of 2006. The Florida companies that received funding in the second quarter:

» Accu-Break Pharmaceuticals (formerly known as SoLapharm), Plantation, accubreak.com
Received: $5,649,900
Industry: Biotechnology
Description: Develops technologies for pharmaceutical tablets
Investors in Q2: Pequot Capital Management; S.A.C. Capital; undisclosed firm

» Applied Genetic Technologies, Alachua, agtc.com
Received: $12,550,200
Industry: Biotechnology
Description: Develops therapeutics for medical patients
Investors in Q2: InterWest Partners; Intersouth Partners; MedImmune; Skyline Ventures; undisclosed firm

» Authentium, Palm Beach Gardens, authentium.com
Received: $3,600,000
Industry: Software
Description: Develops system encapsulation, file and application defense
Investors in Q2: Safeguard Scientifics; Westbury Partners; undisclosed firms

» Avant Healthcare Professionals, Winter Park, avanthealthcare.com
Received: $1,000,000
Industry: Healthcare Services
Description: Provides nurses and therapists on contract with hospitals
Investors in Q2: LFE Capital

» Avalon Healthcare Holdings, Tampa, avalonhealthcare.net
Received: $3,479,000
Industry: Healthcare Services
Description: Provides health insurance plans to small to midsized businesses
Investors in Q2: Inter-Atlantic Group; undisclosed firm

» Excalibur Electronics Miami, excaliburelectronics.net
Received: N/A
Industry: Media and Entertainment
Description: Manufactures electronic products
Investors in Q2: Palm Beach Capital Partners

» Institute for Corporate Productivity (aka i4cp)
St. Petersburg, i4cp.com
Received: $6,050,000
Industry: Business Products and Services
Description: Operates as a research organization focused on workforce productivity
Investors in Q2: IDG Ventures Boston; Trinity Ventures; undisclosed firm

» Interface21, West Melbourne, interface21.com
Received: $9,700,000
Industry: Software
Description: Provides open source software for mission-critical enterprise applications
Investors in Q2: Benchmark Capital; individuals; undisclosed firm

» Lifestyle Family Fitness, St. Petersburg, lff.com
Received: $18,000,000
Industry: Media and Entertainment
Description: Operates a fitness club chain with nine locations in Florida
Investors in Q2: Quantum Capital Partners; undisclosed firm

» Pasteuria Bioscience Alachua, pasteuriabio.com
Received: $5,300,000
Industry: Biotechnology
Description: Operates as an agricultural biotech company
Investors in Q2: Advantage Capital Partners; Gordon River Capital; Life Sciences Partners BV; undisclosed
firm

» PayPerPost, Orlando, payperpost.com
Received: $7,025,200
Industry: IT Services
Description: Operates as a marketplace for consumer generated advertising
Investors in Q2: Draper Fisher Jurvetson (formerly known as Draper Associates); Draper Fisher Jurvetson Gotham Venture Partners; Inflexion Partners; Village Ventures; undisclosed
firm

» Planar Energy Devices Orlando, no website
Received: $1,300,000
Industry: Electronics/Instrumentation
Description: Develops high-energy density solid state thin film batteries
Investors in Q2: Battelle Ventures

» Sirion Holdings (aka Sirion Therapeutics), Tampa
siriontherapeutics.com
Received: $44,999,800
Industry: Medical Devices and Equipment
Description: Develops and commercializes ophthalmic products
Investors in Q2: Advent International; Aisling Capital (FKA: Perseus-Soros Management); Atlas Venture; Bear Stearns Merchant Banking; Investor Growth Capital; undisclosed firm

» Skyway Software (formerly known as Turtle Software), Tampa, skywaysoftware.com
Received: $2,000,000
Industry: Software
Description: Provides software development
and deployment for enterprises
Investors in Q2: Armada Venture Group; Imlay Investments; undisclosed
firm

» Telovations, Tampa, telovations.com
Received: $6,500,000
Industry: Telecommunications
Description: Provides IP communications services to small and medium businesses
Investors in Q2: Individuals; Lovett Miller & Co.; undisclosed firms


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