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Florida Funders, a Tampa-based venture capital firm and angel investors network, tells Axios that it's raised $60 million for its second fund.

Why it matters: Founded in 2013, Florida Funders has become something of a regional mentor for the slew of Silicon Valley VCs who've relocated to South Florida during the pandemic.

What they're saying: "A lot of those investors reached out to us when they moved, but most of them are later-stage than us, so they ask us to feed them deals when the companies get to that point," says Saxon Baum, the firm's VP of investor relations.

Most of the money for the new fund came from wealthy Floridians and family offices, with a Tampa concentration.

Around half of Florida Funders' investment portfolio is in Florida-based companies, while the rest is scattered throughout the Southeast.

When asked for one of the firm's more promising, yet below-the-radar, startups, Baum named XGen, a Clearwater-based e-commerce product curation startup that's begun working with Italian fashion brands like Armani and Ferragamo. 

Exclusive: Florida Funders raises $60 million for new VC fund

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Florida Funders, a Tampa-based venture capital firm and angel investors network, tells Axios that it&#x27;s raised $60 million for its second fund.Why it matters: Founded in 2013, Florida Funders has become something of a regional mentor for the slew of Silicon Valley VCs who&#x27;ve relocated to South Florida during the pandemic.

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Exclusive: Florida Funders raises $60 million for new VC fund