{"id":249160,"date":"2026-04-28T04:18:16","date_gmt":"2026-04-28T04:18:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/249160\/"},"modified":"2026-04-28T04:18:16","modified_gmt":"2026-04-28T04:18:16","slug":"govo-venture-partners-doubles-down-on-govtech-with-launch-of-100m-fund-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/249160\/","title":{"rendered":"Govo Venture Partners doubles down on GovTech with launch of $100M Fund 2"},"content":{"rendered":"

The Florida venture landscape is maturing, and Govo Venture Partners<\/a> is leading the charge by leaning into the complexities of the public sector. Following a successful first fund that defied a challenging 2022 market, Managing Partner Rob Panepinto and General Partner Jonathan Kilman are formally announcing the launch of Govo Venture Partners Fund 2, with a target of $100 million.<\/p>\n

The move marks a significant scaleup from their Fund 1, signaling a growing appetite for \u201cGovTech\u201d \u2013 companies that either sell to government entities or navigate heavily regulated industries. \u201cWe feel like we\u2019re at the right place, right time,\u201d Kilman said.<\/p>\n

The partnership between Panepinto and Kilman didn\u2019t begin in a boardroom, but in the trenches of Orlando\u2019s early tech scene over 15 years ago. The duo co-founded Canvs, a pioneering co-working space in the Orlando ecosystem, and ForgeGreen Bio, a provider of disinfecting solutions, during the pandemic.<\/p>\n

Kilman, an attorney and chairman of Converge Public Strategies, saw firsthand how regulatory shifts could make or break a startup. He famously represented Lyft during the \u201cride-sharing wars,\u201d unlocking value by helping the state of Florida authorize the service.<\/p>\n

\u201cRob said to me, \u2018Jonathan, you\u2019re helping all these companies unlock value\u2026 but you\u2019re not investing in them and getting the opportunity to help shape them and be a part of the real upside. Why don\u2019t you do a fund?’\u201d Kilman recalls, during an interview with Refresh Miami. \u201cI said, \u2018Well, I\u2019d only do it if I had a partner like you\u2019.\u201d<\/p>\n

Panepinto brought the operational \u201cexit\u201d muscle to the table. He previously scaled Connextions, a health insurance technology company, which was ultimately acquired by OptumHealth, a UnitedHealth Group Company, in 2011 \u2013 a deal driven largely by the tailwinds of the Affordable Care Act.<\/p>\n

Validating the thesis<\/p>\n

\u00a0Govo currently has about $17 million under management. Established in\u00a0 2022, Fund 1 is now nearly fully deployed across 13 companies, except for some money reserved for follow-ons, and has had one exit with another on the way. \u00a0It\u2019s currently a top 10 performer for its vintage based on Carta data for both DPI (Distributed to Paid-In Capital) and TVPI (Total Value to Paid-In Capital).<\/p>\n

\u201cThree years in, we\u2019ve started to get people some money back,\u201d Panapinto said. \u201cWe\u2019ve validated the thesis, and now we want to do it bigger and better with this next fund.\u201d<\/p>\n

Govo\u2019s \u201csecret sauce\u201d is its willingness to lead rounds for companies in the Seed to Series A stage \u2013 a rarity in Florida\u2019s early-stage market.<\/p>\n

\u201cWe prefer to lead because \u2026 the companies need more than capital,\u201d Panepinto explains. \u201cThey need real understanding of the space and advice and counsel as well. To me, the best way to have that relationship with the entrepreneur is to also be the lead investor.\u201d<\/p>\n

\u2713<\/p>\n

Check your inbox for a confirmation email.<\/p>\n

Govo\u2019s South Florida portfolio companies are Kind Designs,<\/a> the 3D-printed seawall startup, CodeComply<\/a>, which is streamlining the permitting process; optical companies Virtual Vision<\/a> and spinout Virtual Lens<\/a>, and Mavi<\/a> and MedZown<\/a>, which are innovating in mobility and healthcare, respectively.<\/p>\n

Fund 2: Impact, scale, and Tim Tebow<\/p>\n

As Govo looks toward its $100 million goal for Fund 2, they aren\u2019t just attracting institutional LPs. In 2024, Florida icon Tim Tebow<\/a> and his family office joined the firm as partners, drawn by the fund\u2019s \u201cunintentional\u201d social impact.<\/p>\n

While Govo isn\u2019t technically a social venture fund, its focus on solving public problems \u2013 from sea-level rise to healthcare accessibility \u2013 aligns with impact-driven investors. \u201cThe companies we are investing in are oftentimes solving problems that government has,\u201d says Panepinto. \u201cThey\u2019re either helping make government better or more effective, or helping government solve some sort of public problem.\u201d It\u2019s that impact that attracted Tebow.<\/p>\n

\u201cWe get to help find amazing people with amazing ideas and we get to help support them in a way that gives them a chance to succeed. They have incredible visions but just need a little belief, a little support, a little capital\u2026 and incredible things can happen,\u201d said Tebow, who participated in a Govo event celebrating the launch of Fund 2 after speaking on eMerge America\u2019s mainstage<\/a> on Friday.<\/p>\n

In addition to profits, Tebow went on to explain he is also focused on the other ROI \u2013 Return on Impact \u2013 and how the startup could \u201cradically change your communities, your state, your country, your infrastructure.\u201d\u00a0 To assess that, he looks at his own three P\u2019s: people, product and purpose. Tebow, who runs his namesake charitable foundation, said he hopes to support people that \u201cwill take their success and then turn it into significance by using it for good.\u201d\u00a0<\/p>\n

A \u2018legit\u2019 Florida story<\/p>\n

While Govo looks nationally for deals, their heart \u2013\u00a0and their portfolio \u2013 remains in the Sunshine State. Eleven of their 13 companies are based in Florida, with six in South Florida alone. Two others have a strong connection to Florida. \u201cThat Florida story is legit,\u201d Panepinto said. \u201cIt\u2019s strategically where the state was going and is going, and at the same time it\u2019s where we actually have our strongest connectivity and networks.\u201d<\/p>\n

Miami tech, in particular, has progressed much faster than Kilman imagined it would, citing significant traction in fintech, healthtech, proptech and crypto. \u201cI think Miami is\u00a0 becoming a global business hub, and I don\u2019t think it has to choose one or two verticals to be great at,\u201d said Kilman, a Miami resident.<\/p>\n

Govo expects its first close for Fund 2 in September 2026, with the first investment already lined up for an existing portfolio company. In an era where some investors shy away from the \u201cbureaucracy\u201d of government, Govo is running toward it, proving that navigating regulation is the ultimate competitive edge.<\/p>\n

\"\"Govo Venture Partners launch event with LPs, Miami founders of Kind Designs, Virtual Vision and Virtual Lens \u2013 and Tim Tebow. Pictured at the top of this post is Govo Venture Partners Managing Partner Rob Panepinto, left, and General Partner Jonathan Kilman. <\/p>\n

READ MORE IN REFRESH MIAMI:<\/p>\n

\"Nancy<\/a> I am a writer and editor with extensive media experience and a passion for journalism and serving the community. Most of my career has been spent with the Miami Herald in business news, and my expertise is writing about tech and entrepreneurs. I love hosting this blog for Refresh Miami and we aim to be the go-to site for South Florida startup and tech news, features and views. Have news? Contact me at [email\u00a0protected]<\/a>. Thanks for reading! \"Nancy<\/a>Latest posts by Nancy Dahlberg (see all<\/a>) \t<\/p>\n","protected":false},"excerpt":{"rendered":"The Florida venture landscape is maturing, and Govo Venture Partners is leading the charge by leaning into the…\n","protected":false},"author":2,"featured_media":249161,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[123,125,124],"class_list":["post-249160","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-miami","tag-miami-headlines","tag-miami-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/249160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=249160"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/249160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/249161"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=249160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=249160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=249160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}