Home Blockchain Florida Funders partner Marc Blumenthal shares how VC firm embraces blockchain – St Pete Catalyst

Florida Funders partner Marc Blumenthal shares how VC firm embraces blockchain – St Pete Catalyst

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St. Petersburg isn’t attempting to interchange Silicon Valley, however the startups migrating to blockchain and tokenization have traders adapting the best way they go about investing, based on Florida Funders’ Marc Blumenthal. 

Blumenthal, one of many companions on the Tampa-based angel funding group, shared his tackle the engaging blockchain trade rising in Tampa Bay with St. Pete Catalyst writer Joe Hamilton throughout the Bitcoin and Blockchain Summit final week at Amalie Enviornment. 

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Florida Funders has been centered on extra conventional business-to-business, tech-enabled corporations from the seed to A-round stage. Blumenthal mentioned Florida Funders began working with Stratos Applied sciences, a multi-strategy enterprise capital agency with experience in financing and advising know-how companies, so as to add extra blockchain to its portfolio. 

“In case you actually take into consideration defy [decentralized finance] immediately or into 2022, it’s actually a fintech firm of three years in the past. It occurs to be on the blockchain and token economics are likely to make it extra fascinating and scale extra rapidly,” Blumenthal mentioned concerning the attraction. 

“You’ve got extra advanced evaluation whenever you take a look at blockchain as a result of it’s a must to perceive the token economics, the size and attempt to think about how the group goes to come back collectively and onboard the enterprise who will get the enterprise worth from it,” he mentioned. 

Florida Funders evaluates 2,500 corporations a yr with a workforce of 18 individuals. The VC agency invests in 20 to 30 of them with roughly 1 / 4 of them within the early seed spherical. 

“We do guess on founders and their workforce early on even in pre-revenue at occasions, and we’re assured they perceive the market and we place a guess on them,” he mentioned. 

So far as the area blossoming right into a Silicon Valley-like setting, Blumenthal mentioned Silicon Valley can by no means get replaced, however the Covid-19 pandemic has shifted extra curiosity into Tampa Bay. 

“I feel post-Covid, there’s a versatile work setting the place the C-suite decides the place the HQ relies on the place they suppose they will have probably the most enjoyable, construct the very best life,” he mentioned. 

Blumenthal together with native entrepreneurs just lately created HiTampaBay, which is supposed to function a touchdown web page to assist tech corporations with relocating whereas highlighting the world’s belongings and information articles on tech-related enterprise information. 

“We spun HiTampaBay and that’s a means you’ll be able to increase your hand and study concerning the area,” he mentioned. 

The HiTampaBay.com members will help educate potential transplants concerning the startup ecosystem, and make introductions to officers and tech-focused companies so the occasion might be formally educated on making the massive choice to find in Tampa Bay. 

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