New venture capital firm to focus on Southeast U.S.

Three Florida venture capitalists are joining forces to form Sunrock Ventures, a venture capital firm with offices in Tampa and Miami that will invest in businesses throughout the Southeast.

"The Southeast comprises approximately 2 percent of the nation's population, economic output and high tech industry, yet it attracted less than 5 percent of the total venture capital investments in 2006," managing director Tate Garrett said in a statement.

Garrett is joined by fellow managing partners Matthew Shaw and Jeffrey Wolf. Their targeted fund size is $100-million, which they plan to raise from a group of limited partners.

Asjylyn Loder, Times staff writer