The departure underscores the potential weakness of Miami's staying power after the city lured a rush of finance and tech companies in recent years.
Venture capital money flowing to Miami has flagged since 2022, with Miami-based companies bringing in $400 million in Q2, compared to $5.5 billion for the whole of 2022.
The artificial intelligence boom has given San Francisco even more of an edge as a tech capital, highlighting the challenges Miami faces in sustaining its tech ambitions.
Despite attempts to maintain operations after the 2022 crypto rout, Andreessen Horowitz ultimately closed its Miami office due to underutilization.
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