December 4, 2014
In the last year, Miami’s investment infrastructure has strengthened dramatically, with more venture funds looking to the city as a hub. However, the focus has been for startups in the seed and smaller Series A stage. This may change soon. Richmond Global Ventures announced that they will be opening an office here in Miami.
According to The Starting Gate, the firm is raising an $80 million to $125 million venture fund focused on early-stage companies around the world and close to home.
“We feel confident that with three offices, one of them should be in Miami,” said venture capital investor Peter Kellner, who will be heading the fund in Miami.
As for its portfolio, Richmond Global Ventures invests in tech-driven companies with global applications in Series A and B rounds, typically writing $4 million to $6 million initial checks and reserving half of the fund for follow-on investments.
Richmond Global Ventures has already raised about half the new fund and is seeking limited partners in South Florida, with a goal of raising at least $10 million from this region
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