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Florida tech and crypto boom flags as Andreessen Horowitz quietly shutters Miami outpost

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Florida tech and crypto boom flags as Andreessen Horowitz quietly shutters Miami outpost


When Andreessen Horowitz opened an outpost in Miami Beach, the $43 billion venture capital giant bolstered the region’s ambitions of becoming a tropical tech mecca.

Two years and a crypto meltdown later, that office has been quietly shuttered.

Andreessen Horowitz exited the space in May because employees weren’t using it enough, said people familiar with the matter, who asked not to be named citing private discussions. In 2022, the firm had signed a five-year lease for 8,300 square feet (770 square meters) in Barry Sternlicht’s Miami Beach office building at 2340 Collins Ave.

The departure underscores the potential weakness of Miami’s staying power after the city lured a rush of finance and tech companies in recent years. Shortly after Andreessen Horowitz said it was opening the office, Miami’s crypto dreams began to crumble with the implosion of Sam Bankman-Fried’s FTX.

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A representative for Andreessen Horowitz confirmed that the firm no longer has a Miami office but declined to comment further.  

Venture capital money flowing to Miami has flagged since 2022. Miami-based companies brought in $400 million in the second quarter, compared with $5.5 billion for 2022 as a whole, according to PitchBook data. 

By contrast, the artificial intelligence boom has given San Francisco even more of an edge as a tech capital. In the second quarter, companies in the Bay Area got $18.7 billion in venture capital funding. 

Andreessen Horowitz tried to keep the Miami offices going past the 2022 crypto rout, with partner Chris Lyons giving a tour of the facilities on Instagram in May 2023. 

The Menlo Park, California-based firm manages $7.6 billion in crypto-related assets and employs a team of more than 100 to bankroll emerging startups and manage existing bets on dozens of crypto startups. The company expects to raise a new cryptocurrency-focused fund in 2025, Bloomberg reported in April.

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The former Andreessen Horowitz office is now occupied by contact-lens maker Bausch + Lomb Corp., said Brandon Charnas of Current Real Estate Advisors. He facilitated the deal with the new tenant along with Kevin Gonzalez and Stephen Rutchik of Colliers. 

“There was a lot of hype around promoting crypto in Miami, but crypto had a small office presence even at its peak,” Gonzalez said. 

He estimated that crypto companies only ever occupied about 70,000 square feet of office space around the Miami area.

“We’re not seeing a ton of crypto companies saying they need an office space in Miami,” said Charnas, who worked with Andreessen Horowitz on its original lease. “We’re seeing more interest from family offices, investors and private equity.”

Recommended reading:
In our new special issue, a Wall Street legend gets a radical makeover, a tale of crypto iniquity, misbehaving poultry royalty, and more.
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Florida

Florida man charged in racially motivated attack plot

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Florida man charged in racially motivated attack plot


Federal agents arrested a 20-year-old Sarasota man after finding Nazi propaganda, pipe bombs, guns, ammunition, a pressure cooker, and instructions for making explosives inside his home. Investigators also discovered an index card outlining plans for a racially motivated attack, including placing motion-activated bombs for police. If convicted, he faces up to 20 years in prison.



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FTBOA Partners With Florida Coast Equipment

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FTBOA Partners With Florida Coast Equipment


Florida Coast Equipment has entered into a partnership agreement with the Florida Thoroughbred Breeders’ and Owners’ Association making Kubota the exclusive tractor, mower, utility vehicle, and construction equipment sponsor of the Florida Thoroughbred industry, starting in 2026.

The long-term agreement, announced Dec. 23, places Florida Coast Equipment and the Kubota brand front and center to Florida’s Thoroughbred industry, a $3.2 billion industry with more than 90,000 Thoroughbreds and 33,500 jobs.

The Florida Coast Equipment name will now be prominently displayed throughout the FTBOA headquarters, events, and communications, including an advertising package on FTBOA.com, Wire to Wire, and the Florida Horse Farm and Services Directory.

“This partnership goes beyond sponsorship. Florida Coast Equipment is proud to serve as the local dealer of choice for Florida’s Thoroughbred community—working alongside breeders and owners every day with the equipment, service, and support they rely on,” said Florida Coast Equipment online sales manger Timothy Morris Jr. “Both the FTBOA and Florida Coast Equipment are deeply rooted in Florida agriculture and share a commitment to long-term relationships, stewardship, and doing things the right way. That shared mindset is what makes this partnership a natural fit and positions it for lasting impact across the industry.”

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“When it comes to horsepower, nobody knows it better than Florida’s Thoroughbred industry, and the team at Florida Coast Equipment and Kubota,” FTBOA CEO Lonny Powell said. “This partnership unites two pillars of Florida agriculture, and we couldn’t ask for a better fit.”

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This press release has been edited for content and style by BloodHorse Staff.





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Preview: December 23 vs. Florida | Carolina Hurricanes

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Preview: December 23 vs. Florida | Carolina Hurricanes


RALEIGH, N.C. – The Carolina Hurricanes and Florida Panthers square off for the second time in five days on Tuesday, going head-to-head at Lenovo Center.

When: Tuesday, Dec. 23

Puck Drop: 7:00 p.m. ET

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Watch: FanDuel Sports Network South, FanDuel Sports Network App | Learn More

Listen: 99.9 The Fan, Hurricanes App

Canes Record: 22-10-3 (47 Points, 1st – Metropolitan Division)

Canes Last Game: 6-4 Loss to the Tampa Bay Lightning on Saturday, Dec. 20

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Panthers Record: 19-14-2 (40 Points, T-5th – Atlantic Division)

Panthers Last Game: 6-2 Loss to the St. Louis Blues on Saturday, Dec. 20



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