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Keith Rabois , managing director of Khosla Ventures , was having dinner party with a “ very successful chief operating officer ” in October 2018 when the CEO asked him a doubtfulness : How many people does it take to create a whole new Silicon Valley ? Is it 10,000 ? 100,000 ?
Rabois did n’t be intimate , but he make up one’s mind to take the challenge and set about trying to make Miami the next Valley .
And despite other bountiful name investor likeAndreessen Horowitz decampingand shutting down its function in Miami a simple two year after setting up shop class , Rabois said he ’s still bullish on the South Florida city .
At Primary Venture Partners ’ NYC Summit on Thursday , Rabois claimed that 11 % of all semen investments in the United States have come out of Miami , which is “ up basically from zero , ” and that he hopes to raise that to 20 % .
fit in to PitchBook data point , seed investment into Miami startups to date this year account for only 2.6 % of full U.S. seminal fluid investment funds . In 2023 , they answer for for 3.5 % .
“ And the stats you should be looking at if you care about the future of tech are [ the ] fraction of seed investiture , where do they pass ? ” Rabois said , adding that later - stage investment reveals less about the future of engineering .
Rabois also say Khosla Ventures was pitch up to invest in its 5th company in Miami that will “ reinvent education , ” but did n’t provide specific .
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In April , Khosla and Founders Fund , whereRabois worked from 2019 until January , direct the$150 million investmentinto drop management startup Ramp . Rabois said that Ramp , which is based in New York , has an office in Miami , which adds to the city ’s appeal .
Rabois state he is often active on X / Twitter hyping up Miami as a great stead for founders because he feels it takes work to build a new tech hub . He added that he wanted founders and investor to know there are opportunity in vivacious city where you do n’t wake up every day and veneration being “ assaulted and mistreated , ” clearly making a shot at the roofless and opioid epidemic in San Francisco .
For as much as Rabois still believes in Miami ’s tech hub futurity , he has n’t abandoned San Francisco all andreportedly spendsabout a fourth part of his time at his nursing home there .
As an aside , Rabois said he would be back as San Francisco ’s mayoral candidate Daniel Lurie , who has ahard stanceon addressing the opioid crisis .
“ To make a technical school ecosystem , you need angel investor . You need founders , ” Rabois said at the summit . “ You need Series A investors . You need a bunch of unlike skills within a troupe — engineers , designers , occupation people , sale the great unwashed . It ’s really intemperate to start an ecosystem . So proselytizing is authoritative . ”
Update : This article has been update to allow more setting into the percentage of total U.S. seed investment that were in Miami startup . This clause was originally published September 12 , 2024 , at 12:37 p.m. PT .
