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Govo Venture Partners has formally announced the launch of Govo Venture Partners Fund 2, with a target of $100 million — a significant scaleup from its first fund and a strong vote of confidence in the firm’s GovTech-focused investment thesis. The launch was announced on April 27, 2026 by Managing Partner Rob Panepinto and General Partner Jonathan Kilman, signalling a growing institutional appetite for companies that either sell to government entities or navigate heavily regulated industries.
The Govo partnership between Panepinto and Kilman didn’t begin in a boardroom, but in the trenches of Orlando’s early tech scene over 15 years ago. The duo co-founded Canvs, a pioneering co-working space in the Orlando ecosystem, and later ForgeGreen Bio, a provider of disinfecting solutions, during the pandemic.
Kilman — an attorney and chairman of Converge Public Strategies — has seen firsthand how regulatory shifts can make or break a startup, having famously represented Lyft during the “ride-sharing wars” and helped the state of Florida authorize the service. Panepinto brought operational and exit muscle to the table, having previously scaled Connextions, a health insurance technology company that was acquired by OptumHealth, a UnitedHealth Group company, in 2011 — a deal driven largely by the tailwinds of the Affordable Care Act.
Kilman recalls the conversation that led to the firm’s founding: Panepinto asked why he was helping companies unlock value through regulatory work without investing in them himself, suggesting Kilman do a fund. Kilman replied that he’d only do it if he had a partner like Panepinto — and Govo was born.
Govo currently has approximately $17 million under management. Established in 2022, Fund 1 is now nearly fully deployed across 13 companies, except for some capital reserved for follow-ons, and has already produced one exit with another on the way. The fund is 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).
Panepinto described the firm as having validated the thesis three years in — having started to return capital to investors — and noted that Fund 2 represents the firm’s ambition to do it bigger and better. Govo’s “secret sauce” is its willingness to lead rounds for companies in the Seed to Series A stage, a rarity in Florida’s early-stage market. Panepinto explained that the firm prefers to lead because portfolio companies need more than capital — they need real understanding of the space, plus strategic advice and counsel, and that the best way to deliver that is as the lead investor.
Govo’s South Florida portfolio companies include Kind Designs, the 3D-printed seawall startup; CodeComply, which streamlines the permitting process; optical companies Virtual Vision and spinout Virtual Lens; and Mavi and MedZown, which are innovating in mobility and healthcare respectively.
As Govo looks toward its $100 million target for Fund 2, the firm isn’t just attracting institutional LPs. In 2024, Florida icon Tim Tebow and his family office joined the firm as partners, drawn to the fund’s “unintentional” social impact thesis. While Govo isn’t technically a social venture fund, its focus on solving public problems — from sea-level rise to healthcare accessibility — aligns with impact-driven investors.
Panepinto described Govo’s portfolio companies as oftentimes solving problems that government has — making government better or more effective, or helping government solve public problems. That impact dimension is what attracted Tebow, who described the opportunity as supporting people with amazing visions who just need belief, support, and capital to make incredible things happen.
Tebow framed the investment lens as one focused not just on profit but on Return on Impact — assessing portfolio companies through his own three P’s: people, product, and purpose. He emphasised his hope to support entrepreneurs who will take their success and turn it into significance by using it for good. Tebow participated in a Govo event celebrating the launch of Fund 2 after speaking on eMerge America’s mainstage.
While Govo looks nationally for deals, the firm’s heart — and its portfolio — remain firmly in the Sunshine State. Eleven of its 13 companies are based in Florida, with six in South Florida alone, and two others maintain strong Florida connections. Panepinto described the Florida story as legitimate — strategically where the state was going and is going, while also being where Govo has its strongest connectivity and networks.
Kilman, a Miami resident, noted that Miami tech has progressed faster than he imagined, with significant traction across fintech, healthtech, proptech, and crypto. He described Miami as becoming a global business hub that doesn’t need to choose one or two verticals to be great at.
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 bureaucracy of government, Govo is running toward it — proving that navigating regulation can be the ultimate competitive edge.
Govo Venture Partners is a Florida-based venture capital firm specialising in GovTech investments — backing companies that sell to government entities or navigate heavily regulated industries. Founded in 2022 by Managing Partner Rob Panepinto and General Partner Jonathan Kilman, Govo focuses on Seed to Series A investments where it can lead rounds and provide strategic guidance alongside capital. The firm’s portfolio spans 13 companies across infrastructure, permitting, optics, mobility, and healthcare — predominantly based in Florida.
