As of June 30, 2018, the Florida Growth Fund program had invested $621.6 million in 46 technology and growth companies and 33 private equity funds. Florida investments were dispersed across 13 counties, with amounts ranging from $6.8 million in Manatee County to $165.2 million in Palm Beach County. Since its inception, Florida Growth Fund I has experienced a net internal rate of return of 12.5% and has distributed $350 million to the Florida Retirement System as of June 30, 2018.
Due to the success of Florida Growth Fund I, the State Board of Administration's managers authorized the initiation of Florida Growth Fund II, which made its first commitment in December 2014. To date, Florida Growth Fund II has made 10 fund commitments and 9 direct investments, totaling $156.1 million in capital. Given initial fees, Florida Growth Fund II had generated a 15.4% net internal rate of return as of June 30, 2018.
The program's investments resulted in reported economic benefits to the state. Companies that received Florida Growth Fund program investments reported creating 17,174 jobs as of June 30, 2018. The companies also reported paying an average annual salary of $72,116 for those jobs created over the past year. In addition, companies and private equity funds reported making $208.7 million in capital expenditures between July 1, 2017 and June 30, 2018, bringing total capital expenditures to $754.6 million since the fund's inception.

Florida Growth Fund Investments Have Provided Over $200 Million in Distributions to the FRS; Fund Managers Continue to Seek New Investment Opportunities
Report 16-08 December 2016
Florida Growth Fund Investments Continue to Add Jobs and Provide Distributions to the FRS
Report 14-11 December 2014
Florida Growth Fund Investments Add Jobs and Result in Distributions to the Retirement Fund
Report 13-11 December 2013
Florida Growth Fund Investments Have Increased and Recipients Report Employment Growth and Expanded Business Activities
Report 13-01 January 2013

Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.