FLORIDA OPPORUNITY FUND

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Florida Opportunity Fund (FOF)

• Fund of Funds Structure– Created in 2007 legislation– $29.5 appropriation– Equity Investments in other Venture Funds

only– Invests in only early/seed stage funds– Managed by Florida First Partners (FFP)

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Florida Opportunity Fund (FOF)

• Fund of Funds Structure (continued)– Currently $23 million committed to Venture

Funds• Element Partners-Clean Energy • Inflexion Partners-Communication, IT and Life Sciences• New Enterprise Associates-Healthcare/Life Sciences, Clean

Energy and Information Technology• Harbert Venture Partners-IT, Healthcare, Communications• 5 AM Ventures-Life Sciences Technology, Pharmaceuticals• Stonehenge Growth Capital-IT, Business Services

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Florida Opportunity Fund (FOF)

• Energy/Cleantech Direct Investment Fund– Invests directly to Florida based businesses– $36 million of funding from the Governor’s

Energy Office by way of Stimulus funding from US Department of Energy

– Managed by Florida First Partners (FFP)– FOF Board will make final investment decision

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Florida Opportunity Fund (FOF)

• Florida First Partners is joint venture between Milcom Venture Partners and Credit Suisse

• FOF will typically act as a lead investor and form a syndicate of investors

• FOF cannot be a sole investor for any project

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Florida Opportunity Fund (FOF)

• Program will have an energy efficiency mandate– Facility and Equipment Improvement– Renewable Energy Products– Process Improvement– Energy Efficiency Technology Improvement

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Florida Opportunity Fund (FOF)

• Funding cannot be used for research & development

• Program awaiting completion of documentation between all involved parties

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Florida Opportunity Fund (FOF)

• Application will be available online at www.floridaopportunityfund.com

• Main Contact at Florida First Partners– Jennifer Dunham-

jennifer@floridaopportunityfund.com