|DeepWork Capital, LLC the manager of the FAN Investment Funds is pleased to announce that its investment committee has authorized an aggregate investment of $500,000 to “2019 Rise of the Rest” event winners or other finalist participants in the four Florida cities included in the tour.|
D.C.-based investment giant Revolution recently announced that its next Rise of the Rest (ROTR) bus tour will spend time in Florida during the week of April 29 to highlight its emerging startup ecosystems. The $150 million ROTR seed fund was launched in December 2017 by AOL co-founder Steve Case and Hillbilly Elegy author J.D. Vance. The ROTR seed fund is also backed by a group of entrepreneurs and investors including Meg Whitman, Howard Schultz, Michael Bloomberg, Jeff Bezos, Eric Schmidt and Sara Blakely.
Starting April 29, the tour will stop in Orlando, Melbourne, Tampa and Miami before heading to Puerto Rico for the final day. In each city, the Revolution team will meet with entrepreneurs, local business and government leaders and startup ecosystem builders.
“Enabling Florida to have this series of events planned and managed by Revolution gives us the national visibility to jumpstart and showcase our progress and gain continued support for future work and investment in the startup and emerging early-stage ecosystem,” said DeepWork Capital Managing Partner Mitchel Laskey.
Revolution has said Florida warranted a tour visit because of its geographic and demographic diversity, its unique position for startups in the Latin American market, and successful startups already operating in the state. “It feels like there’s momentum building to reposition Florida from a tourist-centric sunshine state to an entrepreneurial startup state,” Case told Inno in an interview in February 2019.
“When the tour ends, we wanted to make sure that a local Florida investment firm was also vested in the successes of these companies positioning them for further investment, mentorship, operational guidance, and continued engagement,” said Kathy Chiu, Managing Partner at DeepWork Capital.
About DeepWork Capital
DeepWork Capital, previously known as FAN Fund, invests professionally managed committed venture capital in growth-oriented early-stage companies in the technology and life science sectors in Florida and surrounding areas. The Fund prefers to take a lead or co-lead investor role while working closely with other investment groups and takes a hands-on approach with its portfolio companies. For additional information please see http://www.deepworkcapital.com.