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Palm Drive Capital opens office in Miami

Miami hasn’t lost its attraction to startups.

Just before the new year, New York-based venture capital and growth equity fund Palm Drive Capital recently announced the opening of a Miami office. The move will take advantage of Miami’s standing as a gateway to Latin America as the company seeks to support its Latin American portfolio companies and continue to search for underserved venture markets in the United States.

Palm Drive, which invests in leading software and internet companies, has already invested in several high-growth Latin American startups, including the e-commerce unicorn Rappi, Lentesplus, Merqueo, Muy and LAIKA. With Miami acting as a gateway, Latin America is swiftly becoming a region with a blossoming tech environment and several valuable investment opportunities. The city is already home to the Latin American headquarters of several companies, including Facebook, Twitter, Spotify, Uber, Lyft and Google. In fact, the company notes that, according to the 2017 Kauffman Index of Startup Activity, Miami is the top U.S region for entrepreneurship with the most recent report recording the rate of new entrepreneurs in the region increasing from .49% to .56% in a year.

“We have had great experiences working with Latin American startup founders. There are so many untapped opportunities and brilliant ideas that just need the support of funding and cross-border connections,” says Palm Drive partner Nick Hsu, who is relocating to Miami.

The company also notes that while Brazil is one of the most popular investment regions, Columbia, Chile, Argentina and Mexico are starting to get more attention. As Latin America is home to a growing e-commerce and fintech scene, Palm Drive partners are confident that the Miami offices will allow them to focus on areas and founders that many investors may overlook.

“We are extremely excited for Palm Drive to make this geographical expansion,” says Palm Drive managing partner Hendrick Lee, who is also relocating to Miami. “Miami puts us in the perfect location to really develop the connections we need to further support Latin American startups. We are also looking forward to strengthening the connections we already have in the region.”

 

Pictured left to right: Seamon Chan, Nick Hsu and Hendrick Lee

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.