- Miami’s tech-startup scene has heated up in the past two years as VCs have flocked to the city.
- Early-stage funding to the area has topped $2 billion this year, according to Crunchbase.
- Insider asked VCs to identify the top investors in the Miami area. Here’s what they told us.
In the past two years, Miami’s burgeoning tech-startup scene has exploded.
It’s become a magnet for investors from firms such as Founders Fund, Tiger Global Management, and Lux Capital, all of which have at least one partner in the city part time or full time. In July, Andreessen Horowitz said it would open an office in Miami Beach.
Despite the slowdown in venture-capital investments this year, early-stage funding flowing to the Miami area is set to eclipse last year’s total, according to Crunchbase, with more than $2 billion already invested.
The city has also become a popular locale for crypto and Web3 startups, with companies such as QuickNode, Upstream, MoonPay, and Yuga Labs all based in the area.
Several venture capitalists have compared Miami’s budding startup scene to the early days of other tech hubs. Geoffrey Woo, a cofounder of Anti Fund, has said Miami’s “raw animal energy” is reminiscent of San Francisco in years past, while Jon Oringer, a cofounder of Pareto, told Insider that Miami has the feel of New York City’s tech scene two decades ago.
“Miami will eventually be a large international tech hub,” Oringer said. “It’s inevitable.”
Insider asked venture capitalists and other prominent tech figures which investors Miami-area founders should get to know. They identified 26 of South Florida’s most esteemed startup backers.