Miami Startup Scene: Insights from 8 Top Investors

Miami's Rise as a Tech Hub

Miami is rapidly gaining recognition as a destination for companies and individuals leaving Silicon Valley. The city boasts a growing presence of investors, accomplished tech entrepreneurs, and a supportive local administration.

This report stems from discussions with several investors regarding Miami's prospects, potential benefits, and influential figures. It represents the second such survey conducted by TechCrunch on this topic; the initial report is available here.

Investor Consensus on Miami's Potential

A common theme emerged from the investor interviews. There is widespread belief in Miami’s capacity to evolve into a significant startup ecosystem. This growth will be fueled by its diverse talent pool and appealing lifestyle.

The evolving nature of work is also a key factor. As traditional office-centric models are challenged, Miami is increasingly viewed as an attractive location for a distributed workforce.

Investors Interviewed

We consulted with the following individuals:

• Alexandra Wilkis Wilson, co-founder and managing partner at Clerisy
• David Goldberg, general partner at Alpaca
• Mark Volchek, founding partner at Las Olas Venture Capital
• Maya Baratz Jordan, CEO and founding partner of Founders Factory New York
• Sanket S. Parekh, managing partner at Secocha Ventures
• Shervin Pishevar
• Laura González-Estéfani, founder of TheVentureCity
• Nico Berardi, general partner at ANIMO Ventures

Alexandra Wilkis Wilson, Co-founder and Managing Partner, Clerisy

What is your outlook for Miami’s startup landscape in the next five years?

Over the last five years, Miami’s startup community has experienced considerable growth and change, spurred by the support of local organizations like Endeavor Miami, The Knight Foundation, The Lab, Rokk3r Labs, eMerge Americas, Miami Angels, and Wyncode. Historically, a significant number of Miami’s entrepreneurs, investors, and startups have maintained connections to Latin America. Looking ahead, Miami’s tech sector will undoubtedly continue to serve as a bridge to Latin America, as it has done previously. However, I anticipate an influx of founders, investors, engineers, and operational professionals from cities such as New York, Los Angeles, and San Francisco, drawn by a superior quality of life and more favorable tax policies.

This shift will introduce more skilled individuals and foster a larger, more resilient tech ecosystem within South Florida.

The rise of remote work presents both opportunities and challenges for the global workforce. Considering this, how do you foresee the impact on Miami’s office spaces and overall tech development, even with increased company relocations?

The normalization of remote work will likely result in a greater influx of diverse talent into Miami. If employees, officially based in other cities, have the flexibility to work remotely from any location, why wouldn’t they consider experiencing Miami’s year-round outdoor lifestyle? I recently became a member of a WhatsApp group, “Nomads in Miami,” comprised of intellectually stimulating individuals from various backgrounds – creatives, entrepreneurs, and established professionals – who are either spending the winter in Miami or have made a permanent relocation to South Florida.

This group exemplifies the new demographics discovering The Magic City. I’ve observed that many of these individuals are experiencing Miami for the first time. I’ve also joined #miamitechlife, a WhatsApp community connecting local founders, investors, executives, and leaders for networking and social events. There’s a palpable excitement and energy in Miami, and I believe it’s sustainable!

Which industry sectors does Clerisy prioritize in Miami and beyond? What current developments in Miami are most appealing from an investment perspective?

My business partner Lisa Myers and I recently established a growth equity fund, Clerisy; she previously served as a partner at L Catterton, a prominent consumer private equity firm. We are focused on investing in rapidly expanding consumer and techsumer businesses generating over $10 million in revenue, seeking capital for accelerated growth. We will provide funding to companies meeting our criteria within sectors such as health and wellness, the consumerization of healthcare, food and beverage, beauty, and other consumer-focused and tech-enabled areas.

While I would welcome an investment opportunity based in Miami, Clerisy’s scope isn’t limited to a specific geographic location. We will invest in businesses situated in cities or countries where we possess prior experience and strong professional networks.

What local obstacles have you observed, or what challenges have founders faced? More broadly, what considerations should individuals have when seeking to hire, invest, or relocate to Miami for business purposes?

Compared to the Bay Area or New York, the Miami tech ecosystem is smaller and, to date, has seen fewer significant exits. Despite its relatively compact size, it is remarkably welcoming to newcomers. This hospitality is likely influenced by Miami’s history of transience, with many Latin Americans moving in and out annually based on the political and economic conditions in their home countries.

Attracting new hires to Miami will become increasingly straightforward. As Miami’s existing startups achieve greater success and generate more exits, it will become easier to attract both local investment and future talent.

Who are the key individuals driving success within Miami’s startup community – investors, founders, or professionals in supporting roles such as legal counsel, designers, or growth specialists?

To sustain its growth, Miami’s startup ecosystem requires a diverse range of contributors: founders, skilled talent spanning engineering, marketing, and creative fields, angel investors, venture capital and private equity firms, legal professionals, and, crucially, a dedicated consumer base that actively supports local companies.

David Goldberg, General Partner, Alpaca

What is your outlook on Miami's startup landscape in the next five years?

Miami possesses all the necessary components for accelerated growth and solidifying its position as a major tech and startup hub. The availability of capital, skilled founders, a growing talent pool, and robust infrastructure are all increasing due to the area’s appeal. Within five years, I anticipate Miami will be surpassed only by San Francisco, New York City, Los Angeles, and Boston in terms of scale and deal volume.

The rise of remote work presents both opportunities and challenges for the global workforce. How might this trend, coupled with increased company migration, affect Miami’s technological development, even with potential office space reductions?

This situation presents a complex duality. Positively, we can expect an influx of founders relocating here and establishing remote or hybrid teams. Furthermore, individual employees choosing to live in Miami while working remotely for companies elsewhere will contribute to the ecosystem. However, building large companies entirely from the ground up, with a fully local workforce, will prove more challenging. Success stories like Uber in San Francisco generate a ripple effect, creating future founders, operators, and investors who reinvest in their local ecosystem. Without this dynamic, reaching the highest tier will be difficult.

What specific industry sectors does your firm prioritize, both in Miami and beyond? What current developments in Miami are you most enthusiastic about funding?

Our firm maintains a broad focus encompassing consumer technology, marketplaces, e-commerce infrastructure, real estate technology, and fintech. Considering the recent influx of talent, I believe it’s premature to limit Miami to a select few sectors. While historically known for travel, hospitality, healthcare technology, and real estate tech, I’m observing emerging trends in blockchain, cryptocurrency, fintech, remote work solutions, and even traditional enterprise SaaS. Miami’s strategic position as a gateway to Latin America and South America also presents significant opportunities for companies looking to expand into those markets.

What obstacles have you observed local founders facing? More broadly, what considerations should individuals have when seeking to hire, invest, or relocate to Miami for business purposes?

Geographical dispersion can pose logistical difficulties. Within Miami itself, distinct hubs have emerged in areas like Brickell, Wynwood/Midtown, Coconut Grove, and Coral Gables. Beyond that, separate networks exist further north in Fort Lauderdale and Tampa.

Moreover, greater engagement and contributions from Miami’s universities are needed. Leading tech hubs like Silicon Valley, Los Angeles, Boston, and New York benefit from top-tier institutions consistently producing skilled tech talent, a resource that is currently lacking here.

Could you identify key individuals driving success within Miami’s startup community – investors, founders, legal professionals, designers, growth specialists, and others? We aim to spotlight influential figures who may not be widely known outside the region.

I am continually discovering new contributors. While prominent figures who have recently relocated, such as Keith Rabois, Anthony Pompliano, Harry Hurst, and Jon Oringer, often receive attention, I also hold immense respect for those who have been diligently working for years to build the foundation of this ecosystem. Some notable individuals include Melissa Medina, Matt Haggman, Nico Berardi, Shervin Pishevar, Raul Moas, Nancy Dahlberg, Rebecca Danta, Moishe Mana, Laura Maydon, Brian Brackeen, Tony Jimenez, Brian Breslin, Juan Pablo Cappello, Mellissa Krinzman, Mark Kingdon, and, of course, Mayor Francis Suarez.

Mark Volcheck, Founding Partner, Las Olas Venture Capital

What is your outlook for Miami’s startup environment in the next five years?

We believe the current stage is still nascent, yet remain optimistic regarding the future of Florida’s technology sector. A crucial area for development over the coming five years involves strengthening community bonds – presently, numerous independent groups exist with limited interaction. Increased collaboration will undoubtedly propel South Florida forward as a thriving tech hub.

The rise of remote work presents both opportunities and challenges for the global workforce. Considering this, how do you anticipate the balance between office spaces and remote work impacting Miami’s technological advancement, even with increased company migration?

We anticipate a continued need for physical offices and in-person collaboration. Nearly all companies within our investment portfolio are planning to maintain some level of in-person presence. Remote work has broadened the geographic scope for talent acquisition, allowing individuals from major tech companies to operate outside of Silicon Valley, and Miami, along with broader South Florida, is benefiting from this shift. This wider talent pool will empower local founders, as the traditional expectation of concentrated tech talent in Silicon Valley is diminishing, and local access to skilled professionals will improve.

Which industry sectors are the focus of your investment strategy in Miami and beyond? What current developments in Miami are most exciting from a funding perspective?

Our fund concentrates on two core investment areas: B2B vertical SaaS and SaaS-enabled businesses/marketplaces, alongside what we categorize as knowledge worker tools – encompassing DevOps, cybersecurity, and other product-led horizontal applications. Within vertical SaaS, logistics and supply chain technology have experienced significant growth in recent years, further accelerated by the impact of COVID-19 on consumer demand and delivery expectations. Given the importance of logistics to Miami and Florida’s economy, we believe local startups have a substantial opportunity in this sector. We’ve already invested in several Florida-based companies addressing various aspects of logistics, from last-mile delivery solutions to long-haul trucking route optimization.

What local obstacles have you observed founders facing? More broadly, what considerations should individuals have when seeking to hire, invest, or relocate to Miami for business purposes?

Historically, access to capital has been a major hurdle for Florida-based founders, a challenge we recognized even before launching our first fund in 2016. The number of funds actively investing in tech companies at the seed and Series A stages is limited, and post-Series A funding is even scarcer. Companies have traditionally struggled to gain the attention of Silicon Valley VCs due to preconceived notions about Florida as an unfavorable location for startups. As recently as last year, some Bay Area investors advised, “Relocate from Florida if you are serious about securing funding.” However, some of these perceptions were justified, as South Florida’s business community has sometimes prioritized superficiality over substance, a tendency occasionally observed among both investors and startups. The current interest in Miami and Florida as a tech destination gives us hope that funding attitudes are evolving, recognizing that successful businesses can be established anywhere.

Could you highlight key individuals within the Miami startup ecosystem who are driving success, including investors, founders, and professionals in supporting roles such as legal counsel, designers, or growth specialists?

We would like to acknowledge all of our Florida-based portfolio companies who are diligently building successful businesses locally – ReloQuest, CarePredict, OneRail, SmartHop and Plum. They are actively expanding their teams and experiencing rapid growth, with several having secured additional funding from leading VCs. We encourage you to explore their offerings!

Maya Baratz Jordan, CEO and Founding Partner, Founders Factory New York

What is your perspective on the future of Miami’s startup landscape in the next five years?

A robust startup environment often flourishes in cities boasting a wide array of established industries. New York City serves as a prime illustration of this principle. Technological ecosystems are most effective when they can identify and resolve a broad spectrum of challenges, rather than being limited to a single sector.

Companies that achieve significant success frequently concentrate on overlooked opportunities within substantial markets. These gaps are often revealed through cross-industry collaboration and the exchange of innovative ideas.

Therefore, I contend that the diversity of both industries and talent represents a fundamental strength for Miami’s continued growth.

The rise of remote work presents both opportunities and challenges for the global workforce. How might this trend affect Miami’s tech sector, considering both incoming companies and local remote workers?

A significant driver of the current influx of people to Miami is the increasing freedom from geographic constraints offered by remote employment. Individuals are now able to choose locations that align with their desired lifestyle.

This unique advantage allows Miami to explore innovative hybrid work models. The traditional distinction between office-based and remote work may be becoming obsolete.

Offices originated in an era when technology was less advanced and in-person communication was the most efficient method. While face-to-face interaction remains valuable, alternative approaches that integrate it more seamlessly into daily life are worth considering.

Within Miami, and on a broader scale, which industry sectors are your investment priorities? What developments in Miami are currently generating the most excitement for potential funding?

I am actively investing in the consumer healthcare sector, and Miami is experiencing considerable activity in this area. This includes advancements in medical robotics and remote patient monitoring for chronic conditions.

I also maintain a strong interest in the future of work and the creator economy. Miami’s diverse industrial base is likely to foster companies that address the need for individuals to monetize their passions.

What obstacles have you observed founders facing in Miami? More broadly, what considerations should individuals have when seeking to hire, invest, or relocate to the city for business purposes?

A common observation in Miami is the relaxed pace of life, often referred to as operating on “Miami time” – a blend of island time and the faster tempo of New York.

Could you highlight key individuals within the Miami startup community who are driving success, including investors, founders, and professionals such as lawyers, designers, and growth specialists?

Miami’s history as a city built by immigrants is a crucial asset. Immigrants demonstrate a higher propensity for entrepreneurship compared to native-born populations.

Notably, female founders have been quietly establishing impactful and thriving businesses within the city.

Shervin Pishevar

What is your perspective on the future of Miami’s startup environment?

Miami is poised to become a significant counterpart to Silicon Valley within the U.S. tech landscape. Furthermore, it’s attracting numerous prominent figures from Latin America’s tech industry. These individuals are seeking a stable environment, conducive to innovation and value creation, away from fluctuating governmental policies. Miami’s advantageous location and substantial growth over the past five years are fostering a rapidly expanding tech scene, spanning from Coconut Grove to Wynwood and surrounding districts.

The city’s diverse cultural makeup is also a draw for those who appreciate and flourish in inclusive, global communities. Miami embodies the ingenuity and resourcefulness characteristic of early Silicon Valley companies, born from humble origins. It combines the welcoming atmosphere of a smaller city with the boundless opportunities of a larger one. The developing ecosystem supports various business sectors, extending beyond technology, as evidenced by the influx of financial firms relocating to Florida. A convergence of finance, technology, and infrastructure, as is currently occurring, creates a synergistic effect indicative of a thriving community.

How is the rise of remote work influencing Miami’s tech sector, considering both the potential decline of traditional offices and the increase in remote workers?

Remote work has empowered individuals to choose their preferred locations, and many are selecting Florida, particularly Miami. This influx of talent is, in turn, stimulating the establishment of new businesses here. Miami offers a compelling “work, live, play” lifestyle, supported by its excellent airport, the Virgin Brightline train, modern office spaces, and appealing leisure options.

Which industry sectors are you prioritizing in Miami and beyond? What current developments in Miami are most exciting from a funding perspective?

Transportation holds a special place in my interests. I envision a Hyperloop station being established in Miami within the next three years. However, the nature of funding technology startups often leads to unforeseen opportunities. The space industry is becoming increasingly accessible, with shorter investment timelines. Given Miami’s proximity to Cape Canaveral and NASA, I believe it has the potential to become a significant hub for space technology.

What obstacles have you observed founders facing in Miami? What advice would you offer to those looking to hire, invest, or relocate to the city?

Initially, I anticipated challenges in attracting talent to Miami. Fortunately, I was joined by several close colleagues. While there was initial hesitation, the underlying foundations for growth were already in place, and once a critical mass of individuals relocated, others followed. This represents only the beginning of the current wave of migration to Miami. Tax benefits served as an initial incentive, but the structural changes of the last five years have been the primary drivers.

Who are the key individuals driving success within Miami’s startup ecosystem – investors, founders, and other essential roles?

Notable figures contributing to the success of Miami’s startup scene include: Monique Idlett-Mosley (Reign Ventures), Angela Benton (CEO and founder of Streamlytics), Saif Ishoof (vice president for Engagement at Florida International University), Raul Moas (Miami program director of the Knight Foundation), and Matthew Haggman (executive vice president, One Community One Goal of the Beacon Council).

Sanket S. Parekh, Managing Partner, Secocha Ventures

What is your perspective on the future of Miami’s startup environment over the next five years? The city has experienced a surge in new residents, including a growing number of tech and finance firms. How will these factors coalesce into something greater than their individual contributions?

Considering Miami as a product and analyzing its adoption rate, it appears we’ve reached a critical turning point. Those of us established here before the pandemic represent the innovators, while those arriving during COVID-19 embody the early adopters. Currently, Miami is positioned to demonstrate its ability to progress from early adopters to the early majority.

Ideally, in five years, the focus will shift towards news highlighting startups that are expanding and creating jobs within the city, rather than solely on investor relocations – though that remains a positive development, it isn’t the ultimate goal.

It is also hoped that Miami’s defining characteristics – its global outlook, its diverse racial, socioeconomic, and cultural makeup – will inspire a unique and truly exceptional quality in the founders and investors who are developing their businesses here.

The rise of remote work presents both opportunities and challenges for the global workforce. How do you anticipate this trend, alongside the influx of companies, impacting Miami’s technological advancement, even potentially leading to a decrease in traditional office spaces?

I don’t foresee a future devoid of in-person interaction. While the way we “work” will undoubtedly evolve, the complete disappearance of offices seems unlikely. Instead, we’ll likely witness a transformation in the function and design of offices, evolving into collaborative “hubs.”

Miami currently consists of fragmented “neighborhood clusters.” Previously, this was considered a drawback, but given the anticipated shifts in work patterns, this is becoming less of a concern. It could even be viewed as an advantage, allowing individuals to live and work near the beach, while accessing “hubs” for events and meetings elsewhere, rather than being constrained by daily commutes.

Which industry sectors are the primary focus of your investments, both in Miami and globally? What developments within Miami’s current landscape are you most enthusiastic about funding?

Although we’ve been based in Miami for the past seven years, our investment scope is global. The pandemic has further normalized geographic flexibility, which is a key reason investors are choosing to locate here.

Our investment portfolio includes fintech, healthcare technology, consumer technology, and consumer products.

CarePredict, a company based in Broward County, is one of our most promising portfolio investments. The changes brought about by COVID-19 have uniquely positioned them to provide the appropriate level of technology for eldercare services.

Within our local ecosystem, Chewy and MagicLeap have been significant employers. I am particularly excited to see what innovations their former employees will create in the years ahead.

We are also encouraged by the increasing number of highly skilled founders relocating to Miami to launch their ventures. These individuals might have previously chosen San Francisco or New York City, presenting a valuable opportunity for us to connect with exceptional teams at the initial stages of their ideas.

What local obstacles have you observed, or have founders reported facing? More broadly, what considerations should individuals have when seeking to hire, invest, or relocate to Miami for business purposes?

Securing funding during the angel round can be more difficult here compared to more established markets, where founders and ecosystem participants play a more substantial role. Many local angel investors are accustomed to real estate investments and approach early-stage deals with a different perspective than those familiar with this asset class.

Traditionally, attracting top-tier talent has also been a challenge in Miami compared to leading entrepreneurial cities. However, the recent influx of remote workers and the changing perception of Miami give us hope that local companies will be able to overcome this hurdle.

As previously mentioned, Miami is comprised of distinct neighborhood clusters. Anyone considering relocation should dedicate time to exploring different areas to determine the best fit before making a commitment.

Could you identify key individuals within the Miami startup community who are driving success, including investors, founders, and professionals in supporting roles such as legal counsel, designers, and growth specialists?

• Venture Bites is a locally-driven organization dedicated to fostering the startup ecosystem. They host educational sessions with industry leaders from across the country and are organizing a pitch competition with significant public and private partnerships.
• Refresh Miami serves as a prominent advocate and “information center” for the community.
• Miami Angels is actively working to increase the number of angel investors in the startup ecosystem. While the city boasts numerous high-net-worth individuals, directing their attention away from real estate and towards startup investing has historically been challenging. Hopefully, as Miami progresses, this will change.
• Animo Ventures and Las Olas Venture Capital are two venture capital firms established in South Florida prior to the pandemic. We anticipate the arrival of many more firms in the coming months.
• The Knight Foundation has consistently supported the ecosystem, and its impact is undeniable.
• 500 Startups was among the first Silicon Valley firms to recognize Miami’s potential, establishing an office here several years ago. Ana and her team have been instrumental in stimulating and engaging the local ecosystem.

Laura González-Estéfani, Founder of TheVentureCity

What is your perspective on the future of Miami’s startup ecosystem over the next five years?

Considering the substantial progress achieved within the last five years, we anticipate Miami evolving into a prominent technology center in the southeastern United States. All essential elements are present to facilitate this transformation: educational institutions specializing in engineering and development, startup incubators and accelerators for early-stage ventures, a dynamic tech community, reinvestment by successful founders into the next generation, increasing capital availability, a desirable quality of life attracting tech professionals, proactive local government support, and a remarkably diverse talent pool.

How is the rise of remote work influencing Miami’s tech landscape, considering both potential office space impacts and the influx of remote workers?

We firmly believe that talent is not geographically constrained, and forward-thinking cities prioritize attracting and retaining top professionals—this extends beyond mere connectivity and infrastructure. Previously, individuals often had to relocate for career opportunities, necessitating significant personal sacrifices. The events of 2020 demonstrated that career aspirations no longer require compromising one’s desired lifestyle. A common concern voiced by talent was the limited availability of mid- to senior-level tech positions in Miami; however, remote work has substantially bolstered the city’s appeal. Miami represents an ideal destination for individuals at various life stages, and we foresee it becoming a leading remote work hub, even for those who divide their time between locations and different climates. The workforce now possesses greater choice, and we expect individuals to increasingly prioritize quality of life over job location—a truly transformative shift.

Which industry sectors are the primary focus of your investment activities in Miami and beyond? What emerging trends in Miami are currently generating the most excitement for potential funding?

For the past four years, we have been headquartered in Miami, investing in companies wherever the most promising founders are located—sometimes within Miami, and at other times in different states or countries. Our philosophy is “from Miami to the world.” We are currently observing a significant influx of talent from other states into Miami, mirroring the earlier trend of individuals relocating to Miami from international locations due to the abundant opportunities it provides. We concentrate on software companies that are disrupting established industries, as well as ventures in health tech, fintech, mobility, cybersecurity, and job creation. We also invest in marketplace models that are innovating within travel, pet care, and solutions for small and medium-sized businesses. We provide initial funding ranging from $100,000 for seed-stage companies, coupled with a product-led growth program, to an average of $3 million through our Fund II for pre-Series A rounds. We prioritize diversity, a global perspective, and a strong emphasis on execution.

Miami has historically been a strong center for fintech, and we are closely monitoring innovative companies in this sector, alongside those in health tech. We’ve also noted highly disruptive companies in proptech, and a number of compelling B2C and B2B marketplaces.

What challenges have you observed for local startups, or for founders operating in Miami? What advice would you offer to those looking to hire, invest, or relocate to Miami for business?

Our most persistent challenge has been overcoming preconceived notions about Miami. Experiencing the city firsthand is essential to truly understand the opportunities it presents—it’s a remarkably welcoming environment where numerous individuals are eager to assist. Another significant challenge is the disparity between the amount of capital flowing through Miami and the proportion invested in technology, which is a considerable oversight. We require a fund of funds to support local investment firms, enabling them to further develop the ecosystem. This necessitates substantial, committed investment in the asset class, not merely fulfilling quotas or initiating small-scale programs. Such investment fuels a virtuous cycle, providing capital to fund managers who identify promising entrepreneurs, create jobs, and stimulate economic growth. Investing in Miami is not solely about local investment; it’s also about investing from Miami into the global market.

Could you highlight key individuals within the Miami startup community who are driving success, including investors, founders, and professionals in supporting roles such as legal, design, or growth?

Certainly, Juha and Johanna Mikola of Wyncode (recently acquired by Brain Station), Andrew Parker from Papa, Claudia Duran from Endeavor, Victor Servin—CTO of TheVentureCity, David Smith—chief data scientist from TheVentureCity, David Marcus—chief product officer at TheVentureCity. Jimena Zubiria—VP of People at TheVentureCity, Anabel Perez-Novo—CEO of NovoPayment, Adolfo Babatz—CEO of Clip, Rodrigo Teijeiro—CEO of RecargaPay, Jackie Baumgarten—CEO of Boatsetter, Justin Meyers—CEO of Explorest and Vivek Jayaram (legal counsel).

Nico Berardi, General Partner, ANIMO Ventures

What is your perspective on the future of Miami’s startup environment in the next five years? The city has experienced an influx of diverse individuals, including a recent surge in tech and finance firms. How will these elements combine to create something greater than their individual contributions?

Despite Miami’s geographical dispersion, the concentration of new arrivals within the Brickell-Wynwood area is notable. This clustering could foster the necessary density for serendipitous encounters, a crucial element for innovation. Equally important will be the involvement of initial founders and operators who have achieved successful exits, actively engaging in angel investing and mentoring emerging entrepreneurs. This creates essential connections and strengthens ties to the local area. Furthermore, the integration of professionals from other fields will occur naturally, mitigating the frequently discussed “talent shortage.” It is anticipated that individuals relocating to Miami with companies like Blackstone IT will soon transition into roles within the tech startup sector.

The rise of remote work presents both opportunities and challenges for the global workforce. Considering this trend, how do you foresee its impact on Miami’s tech landscape, even with an increasing number of companies establishing a presence in the city, alongside a growing number of local residents working remotely for out-of-state firms?

This dynamic forms the core of my investment thesis regarding Miami. Individuals seeking to relocate from cities like San Francisco or New York are typically prioritizing an enhanced quality of life – encompassing factors such as climate, taxation, and cost of living – while still desiring access to urban amenities like arts, culture, dining, and a vibrant community. Miami stands out as one of the few U.S. cities offering a significant improvement in quality of life with only a minimal compromise in urban conveniences. If the trend towards remote and hybrid work arrangements continues over the next 3-5 years, Miami, along with a select few other cities, is poised for substantial growth.

Within Miami, and more broadly, which industry sectors are your investment priorities? What current developments in Miami are you most enthusiastic about funding?

As an investor who prioritizes the team, I am generally excited about Miami becoming a viable alternative for exceptional founders. The greater the number of founders who choose to establish their businesses here, the higher the probability of a groundbreaking company emerging from the city. Generally speaking, I believe tech hubs are no longer defined by specific verticals. Los Angeles should have produced Cameo (originally from Chicago) and The Athletic (from San Francisco), while New York should have fostered Affirm (San Francisco) and Plaid (San Francisco). Similarly, Boston should have been the birthplace of Flatiron (New York). Boulder initially appeared to be focusing on biotechnology, but SendGrid ultimately propelled it into prominence.

What obstacles have you observed local founders encountering? More broadly, what considerations should individuals have when seeking to hire, invest, or relocate to Miami for business purposes?

Securing initial angel or pre-seed funding in Miami remains a challenge. Organizations like Miami Angels are making commendable efforts to introduce individuals to angel investing, but we require a tenfold increase in such initiatives. Specifically, we need more investors willing to commit $10,000-$50,000 at the idea stage, accepting the possibility of complete loss. Another challenge lies in the disproportionate attention given to community builders and their organizations. While these individuals are valuable assets to the city, it is ultimately founders who drive ecosystem development. Companies like Snapchat and SpaceX elevated Los Angeles’s profile, not venture capitalists or community organizations. It’s crucial to remember that success hinges on founders, and the rest of us should operate behind the scenes.

Could you identify key individuals within the Miami startup ecosystem who are driving success, including investors, founders, and professionals such as lawyers, designers, and growth experts? We aim to highlight those who may be less known to outsiders. 

As previously stated, the focus should be on founders. Alex from Blanket, Andrew from Papa, Lil from Xendoo, Josip from Milo Credit, Guillermo from SmartHop, Anna from Brave Health, Valerie from Shoot My Travel, Alon from Neocis, Maurice from Insightec, Emi from Nearpod, David from Plum Wine, Evan from Kiddie Kredit, Emma from Kiddo, Aaron from Gallant and Jenny from SproutsIO are just a few examples that readily come to mind.