OPPAGA text logo with graphic of FL historic capitol
OPPAGA text logo with graphic of FL historic capitol

Florida Growth Fund Investments Have Increased and Recipients Report Employment Growth and Expanded Business Activities

Report 13-01, January 2013




Report Summary

  • As of September 30, 2012, the Florida Growth Fund had committed to invest $255 million in 19 technology and growth companies and 15 private equity funds. As of June 30, 2012, the fund had a net internal rate of return of 21.03% since its inception.
  • Companies that received Florida Growth Fund investments reported creating 4,164 jobs as of September 30, 2012. This included 2,110 jobs created by technology and growth companies and 2,054 jobs created by companies in which private equity funds were invested. The companies also reported paying an average annual salary of approximately $58,000. Salaries ranged from $23,500 to $110,000 per year.
  • OPPAGA will continue to collaborate with the State Board of Administration, Hamilton Lane, and the Office of Economic and Demographic Research to identify and gather the data necessary to conduct a comprehensive analysis of the Florida Growth Fund's economic benefit to the state. To facilitate such analysis in future reports, companies receiving fund investments should be encouraged to provide the data to the fund manager by September 30 each year.


Related Reports
  1. Florida Growth Fund Investments Have Provided More Than $363 Million in FRS Distributions; SBA Added a New Fund Manager and a $125 Million Tranche of Capital to the Program
    Report 19-02 January 2019
  2. Florida Growth Fund Investments Have Provided Over $300 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities
    Report 18-02 January 2018
  3. Florida Growth Fund Investments Have Provided Over $200 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities
    Report 16-08 December 2016
  4. Florida Growth Fund Expands and Diversifies Investments
    Report 15-14 December 2015
Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.
growth, technology, Florida Growth Fund, Florida Retirement System, life sciences, investments, Hamilton Lane, due diligience, private equity, co-investments, direct investments, early-stage capital, start-up, economic development, economic benefits, pension funds, management fees, employment growth, wage growth, capital investment