A group of Central Florida investors announced the formation of Catapult Capital, a new angel investment group based in Orlando, Fl. Catapult’s mission will be three-fold: to provide for a substantial return on an investor’s time and capital, to support high growth companies in Florida, and to provide real world experience for UCF and Rollins students in evaluating business opportunities.
Catapult Capital plans to invest in a range of early-stage companies. While there are no formal geographical restrictions on where companies can be located, Catapult will give preference to Florida-based enterprises. Catapult Capital will consider a diverse array of investment options including equity financing, convertible debt, or lines of credit. The group expects a typical funding round to range between $50,000 and $1,000,000, and will seek companies that are able to provide an investment return in 3-5 years of an investment by Catapult.
Catapult Capital is supported by the University of Central Florida Venture Lab and Rollins College. These organizations work with Catapult’s members to facilitate initial screening, due diligence, meetings and other organizational logistics.
Catapult Capital members have business expertise in a range of fields that include retail, software, distribution, communications, and clean technologies. Most members are entrepreneurs themselves and hope to utilize their business knowledge alongside their financial investment.
One member, Bob Stern noted, “The lack of seed-stage capital is one of the biggest holes Central Florida faces in the development of an innovation economy. The community is fortunate to have the deep support of the UCF Venture Lab and Rollins’ Center for Advanced Entrepreneurship in helping Catapult Capital construct plans to provide capital to deserving companies in these difficult times.” Stern added “Our flexible structure will allow us to move quickly and efficiently as opportunities arise.”
Since inception in August 2009, Catapult has already attracted many requests for funding, some of which are currently under consideration for funding. The group also has shared due diligence with other groups in the state and is open to deal syndication.
For those who wish to learn more about Catapult Capital, contact the UCF Venture Lab at 407-823-1442.