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Wall Street is moving to Miami

February 19, 2021 BOOK CONSULTATION

If you are looking for an investment fund to work with, head south

People used to come to Florida after getting rich. Now they are coming here to get rich. What others are just discovering now, became obvious to Kris Bort, founding partner of Sakal Ventures, a while ago. A forward-thinking individual, he knew that Wall Street would eventually migrate to a warmer and friendlier place, because people would realize that making money and enjoying life don’t have to be mutually exclusive.

The life of a typical Wall Street trader – obsessed with work, spending endless hours commuting and fighting the elements – is going out of style. Work-life balance is the new sexy.

After almost two decades as a top producing broker on Wall Street, Kris Bort moved to Miami and started a new kind of fund that is all about making life better for everyone.

Sakal Ventures was in Florida before it became mainstream.

Sakal Ventures was one of the trailblazers for that change, and it is now a respected financial services institution operating from the Sunshine State and relying on the healthy work-life balance philosophy in everything it does. We believe that everyone deserves a chance, so we help individual investors gain access to late-state pre-IPO opportunities that traditionally had been reserved for major Wall Street players.

We didn’t just move out of Wall Street, we refused to play by the Wall Street rules. And we won. 

“I believe the best place today to allocate capital, is in the private markets,” says Kris Bort, and it has been his winning formula.

Now top hedge funds and financial services firms are moving out of New York and relocating or opening up offices in the Sunshine State, finally realizing that there is life beyond Manhattan. Great life!

Leon Cooperman, billionaire investor, former hedge fund manager and CEO of Goldman Sachs Asset Management, said of his move to Florida, “I suspect Florida will soon rival New York as a finance hub.”

Even Elon Musk is talking about building car tunnels under Miami! Unlike San Francisco and New York, Miami is diverse in its politics, with Republicans and Democrats living together in relative peace. It must’ve been frustrating for Miami to have been ignored as a place of innovation for decades. But things are changing quickly.

With the Covid-19 pandemic, America’s business leaders, freed from the office, looked around the country, taking note of its coronavirus lockdowns, taxes and rabble rousers. And many said as if in unison: Miami! And they were right.

What’s not to love? While New York’s soaring taxes are driving companies out of the city, the Sunshine State welcomes newcomers with zero income tax. Warm weather. The rest of America (and the world) is freezing and staying off icy roads, and Floridians are chilling by the pool, walking on beaches and having work lunches at restaurants.

Business-friendly mindset and a pro-business mayor. Francis X. Suarez, a registered Republican, said, “It was a lightning-in-the-bottle moment. For them to hear an elected official saying, ‘Hey, we want you, hey, we appreciate you’ – I didn’t realize what a sensitive moment it was in terms of how people felt they were being treated by the governments where they lived.” It seems almost every investor and founder in Miami has the mayor’s cell number. Rich people have always moved to Miami to enjoy their wealth and their time on the water. Now they are coming here to work.

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