John Miller, Board Member with the Florida Venture Forum, announced the closing of Banyan Mezzanine Fund II, L.P.

The Funds are managed by four seasoned investment professionals who have complementary backgrounds and successful track records in both debt and equity investments, with over 75 collective years in lending, corporate finance, venture capital, corporate management and governance, and debt restructures.

Banyan Mezzanine Fund, L.P. was founded in 2002 to provide mezzanine capital to smaller middle-market companies headquartered primarily in the Southeast. Mezzanine capital is used to supplement a company’s debt capacity beyond banks’ credit limitations and is a substantially cheaper and less dilutive alternative to equity financing.

With over $200 million of committed capital from Fund I (2004) and Fund II (2007), they can provide financing of approximately $2 million to $8 million to companies which meet our investment criteria, generally structured in the form of subordinated debt with attached warrants (for the future purchase of common equity). Banyan can also arrange larger financings through its partners or affiliations with other firms. Such financings are typically used for growth expansion, acquisitions, recapitalizations and management buyouts.

Banyan’s focus is on companies with seasoned management teams, revenues greater than $5 million, profitable high margin operations and in growing industry segments.

Florida Opportunity Fund has made its sixth commitment as a limited partner by investing $4 million in a fund managed by Stonehenge Growth Capital, the venture capital and private equity arm of Stonehenge Capital Company.

The commitment to Stonehenge Growth Equity Fund I LP brings Florida Opportunity Fund’s total amount invested to $23 million, out of its $29.5 million total. Earlier relationships include 5AM Ventures, Element Partners, Inflexion Partners, New Enterprise Associates and Harbert Venture Partners.

Florida Opportunity Fund, which is managed by Florida First Partners, a joint venture between Milcom Venture Partners and Credit Suisse Customized Fund Investment Group, focuses on backing venture funds that invest in early-stage Florida businesses.

Stonehenge Growth Capital has an investment team in Tampa, Fla. Its investments in companies with Florida operations include smart-sensor maker Authentec Inc., electronic payment services company Electronic Data Resources Inc. and quality management software maker Pilgrim Software Inc.

Join the Florida Venture Forum and the Gold Coast Venture Capital Association for the Tru-Life Entrepreneurial Experience Series scheduled for March 31, 2010 at the Embassy Suites in Boca Raton, Florida.

CED's Venture Conference is scheduled for April 20-22, 2010 at the Pinehurst Resort in Pinehurst, N.C. The Conference hosts more than 500 investors and entrepreneurs and showcases the region’s best technology, life science and clean tech entrepreneurial companies.

The Florida Venture Forum and ACG Orlando will have a joint meeting April 28, 2010 on The Current state of the Capitol Markets: What you can Expect.

The 20th Annual Florida Venture Capital Conference will be held February 3-February 4, 2011 at the ocean front Westin Diplomat in Hollywood. Register today online and take advantage of the early registration rate. Registration and Conference information can be obtained by going to the website or by calling 813-335-8116.

CLEARWATER, Florida -Pico-Tesla, The Magneceutical™ Therapy Company, announced that it has received the first tranche, $1 million, of a $4 million Series A capital raise. Pico-Tesla will use some of the proceeds to fund two ongoing clinical trials, as well as initiate new studies.

The Company also announced that it has expanded its operations by opening an East Coast headquarters near Tampa, Florida. more...

BRADENTON, Fla.– Tarpon Towers LLC, a wireless communications tower company, today announced it has received a $15 million equity commitment from Spire Capital Partners, a leading private investment fund focused on the communications, business services, information services and media sectors. As part of the Spire transaction, Andrew J. Armstrong, Jr., Managing Member at Spire Capital, will join Tarpon’s Board of Directors. more…

The Florida Venture Forum, Inc. is Florida’s premier statewide support group for venture capitalists and entrepreneurs. As an entrepreneurial networking group, the Florida Venture Forum educates entrepreneurs and assists them in identifying sources of venture capital.

BRINGING TOGETHER FLORIDA’S ENTREPRENEURIAL COMMUNITY