December 6, 2014
Before Ed Boland joined Scout Ventures, he was in the private banking world searching for a niche to cover as he tried to make his career. All the traditional industries in Miami, like healthcare and law, were over-crowded, but then he read about the emerging tech ecosystem in Miami.
After connecting with notable individuals in the community, he realized that being affiliated via banking would only serve to make him a service provider. What Boland really wanted was to be a key figure pushing the ecosystem forward; he wanted to help change Miami from a service based economy to a knowledge based economy.
What he also found was that Miami entrepreneurs lamented the lack of funding for their companies despite being surrounded by lavish wealth. There wasn’t an avenue for people to get involved in the industry outside of direct investment, so Boland reached out to Brad Harrison, founder of Scout Ventures, to partner in Miami.
Harrison saw in Miami what he saw in New York five years previous: all the pieces to a puzzle waiting to be assembled. Venture Capital is, as Boland says, an under-allocated asset class in Miami, and Scout Ventures is now proudly helping tell the story of why people should pay attention to the city.
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