Florida Funders (FLF), one of the Southeast’s leading venture capital (VC) firms, today announced a leadership transition designed to support its continued growth and long-term vision. Effective immediately, Saxon Baum has been appointed Managing Partner, while Tom Wallace will assume the role of Executive Chairman.

Baum has been a key driver of Florida Funders’ success over the past eight years, playing a central role in firm strategy, investor relations, fundraising, and portfolio support. In his new role, Baum will lead the firm’s strategic direction and day-to-day operations as Florida Funders enters its next phase of growth and impact.

As Executive Chairman, Wallace will remain actively involved with the firm, focusing on supporting the leadership transition, working closely with portfolio company founders, and continuing to serve on the Investment Committee to ensure disciplined and high-quality investment decisions.

“After eight years of building Florida Funders together with our other partners, this transition is both a natural and exciting next step for the firm,” says Wallace. “Saxon has been absolutely instrumental in our success. His strategic vision, leadership, and commitment to our investors and founders make him the right leader to take Florida Funders to the next level. I have complete confidence in Saxon and am thrilled to support him as we continue building a firm positioned for long-term growth and impact.”

FLF has grown significantly since Wallace and his original partners, Marc Blumenthal and Kevin Adamek, took over the then-crowdfunding platform in 2016. With AUM approaching $300M, investments in over 110 companies, and a solidified reputation as a leader not only in the Florida and Southeast technology ecosystem but also across the country in venture capital, the firm's reputation and results speak for themselves. 

“The rebrand in early 2025 to FLF from Florida Funders was the beginning of the new era, an era where we celebrate our past accomplishments, but look forward to the future, building a firm that is unequaled in the state of Florida. We have always pushed the limits of what has been possible in early-stage VC and technology in Florida and the Southeast. We want to push even harder and become one of the best VC firms in the country. We have the team and the drive, and I am excited to lead our efforts to solidify us as a top-tier player in the venture capital industry,” says Baum. “I would not be in this position without my mentor and business partner for the last 15 years, Tom Wallace. Tom has taught me how to lead with passion, identify and invest in the best founders, think differently without fear, and take chances. Although he is moving to the chairman role, his involvement will still be key for the firm's long-term success.” 

This transition announcement comes on the heels of FLF closing its third fund, which is similar in size to its last fund at $60M. The plan is to focus this fund on AI, cybersecurity, and FinTech, areas in which the firm and its partners have deep domain expertise. The fund has already invested in 12 exciting companies, including Worth AI, a FinTech AI solution from the same unicorn founders as Staxx, and Archive, an agentic influencer marketing platform founded by Geoff Woo (Stanford computer science graduate). Archive’s other investors include Anti Fund, Logan and Jake Paul's VC fund. FLF plans to be very active in investing out of its Fund 3 this year and is excited to continue to invest in the best entrepreneurs in Florida, the Southeast, and across the country. 

About FLF

FLF is a hybrid venture capital fund and investor network that finds, funds, and helps build early-stage technology companies. We combine a $300M+ venture platform with 2,000+ accredited investors to back breakout founders in B2B software, FinTech, AI, healthcare, and cybersecurity. Beyond capital, our team of seasoned entrepreneurs and investors provides operating expertise, strategic introductions, and a nationwide support network that helps founders succeed. By unifying venture capital with an engaged investor community, we deliver exceptional outcomes for founders and LPs alike.

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FLF is constantly and actively looking to grow and add investors to its investor base. We have fully deployed our Fund 1 and Fund 2, and we’re now investing out of our Fund 3. For more information on FLF, please visit floridafunders.com. Also, you can keep up with the latest news from FLF on LinkedIn, Instagram, Facebook, and X.