ARK Invest and Tim Draper Anchor New Florida Tech Fund

St. Petersburg entrepreneurs will gain direct access to a national network of more than 1,000 venture funds and angel investors beginning next year. The new arrangement links the city’s Innovation District with Austin-based Capital Factory, creating a permanent channel for outside capital to flow into local early-stage companies. For founders in Pinellas County, this means a new pathway to reach institutional investors who previously had no physical presence in Florida.

The agreement, announced on Thursday, Oct. 29, places a member of Capital Factory’s investment team inside the 45,000-square-foot ARK Innovation Center. This facility houses spARK Labs, an early-stage incubator supported by the city and county. The partnership involves ARK Invest, the firm of Cathie Wood, and venture capitalist Tim Draper, who are joining Capital Factory’s All Access 2027 program as strategic partners. Under the terms, the three organizations will share prospective deals and conduct joint due diligence on emerging technologies.

The collaboration stems from overlapping past investments. Capital Factory and Draper both backed Colossal Biosciences, a Dallas biotechnology firm using genetic engineering to revive extinct species. Capital Factory and ARK Venture Fund both invested in Apptronik, an Austin-based developer of humanoid robots that joined the Capital Factory portfolio in 2017. Bryan Chambers, president and co-founder of Capital Factory, noted that the firms frequently identified the same promising founders. He stated that when they keep landing on the same companies, it makes sense to work together from day one.

Tim Draper, who founded Draper Associates in 1985, has a history of investing in major technology players including Tesla, SpaceX, Skype, Coinbase, and Robinhood. His connection to Capital Factory predates this announcement, including participation in the organization’s Meet the Drapers event during South by Southwest in March. That event introduced portfolio companies to the Draper family. Cathie Wood moved ARK Invest’s headquarters from New York to St. Petersburg in 2021, establishing a base for her firm’s focus on disruptive innovation.

Capital Factory has partnered with approximately 100 startups annually through its All Access program since 2017. The 2027 cohort will focus on robotics, autonomy, space, energy, advanced manufacturing, and biotechnology. The program specifically targets technologies with both commercial and military applications. This defense focus extends the firm’s network toward MacDill Air Force Base in Tampa, home to U.S. Central Command and U.S. Special Operations Command. Companies working through the St. Petersburg partnership will gain access to Capital Factory’s government and defense relationships alongside ARK’s research expertise.

Wood said the partnership brings researchers closer to the entrepreneurs building the future. She added that it brings Capital Factory’s network to St. Petersburg alongside spARK Labs. The firm is currently advertising venture-team positions in St. Petersburg, Austin, and Washington, D.C. The announcement did not disclose the specific amount of capital committed by ARK or Draper, nor did it specify how many additional employees Capital Factory expects to hire locally or the total volume of capital that could reach Florida startups.

The deal formalizes a relationship that began with independent investments in the same companies. It creates a structured mechanism for sharing deal flow between a national incubator and local funds. The presence of a Capital Factory team member in St. Petersburg ensures that local startups are visible to a wider group of national investors without requiring the founders to travel to Texas for initial screening.