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TEDCO tops venture capital firms for entrepreneurs, magazine says
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WASHINGTON (Map, News) - The Maryland Technology Development Corporation received the top ranking among venture capital firms for budding capitalists from Entrepreneur magazine.
The magazine looked at which firms invested in the most early-stage companies during 2006, ranking more than 200 corporations by the number of deals completed.
TEDCO invested in 26 companies during the calendar year, several more than the next highest ranked firms of Draper Fisher Jurvetson of Menlo Park, Calif., and Tech Coast Angels of Laguna Hills, Calif., which each put money into 17 firms. During 2006, venture capitalists invested $25.5 billion in 3,416 deals.
TEDCO topped the list for the fourth consecutive year, according to Executive Director Renée M. Winsky.
“We were created by the state of Maryland to do exactly this, to provide the first money in the door for entrepreneurs transferring technology that’s already existing in our labs and our universities,” Winsky said. The organization also arranged federal grants for several companies not included in the listings, she added.
Other local Maryland firms recognized were the state’s Department of Business and Economic Development (14 deals) and Bethesda-based Novak Biddle Venture Partners (five deals). In Virginia, CIT Gap Fund of Herndon (10 deals), McLean-based Amplifier Venture Partners (three deals), Updata Partners of Reston (three deals) and Columbia Capital LLC of Alexandria (two deals) made the magazine’s list.
In D.C., the list noted The Carlyle Group (seven deals), Core Capital Partners (three deals) and Prudent Capital (two deals).
melissa.frederick@dcexaminer.com
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5:44 AM MST on Fri., Jun. 1, 2007 re: "Future of interest rates tied to dwindling dollar"
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8:24 AM MST on Wed., May. 9, 2007
re: "Bethesda-based USCE sees jump in profits along with increase in expenses"
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Morrison Bonpasse said:
The ups and downs of currencies cause substantial and wasteful disruption to the world's economy. What is needed is a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union. The benefits of a Single Global Currency will be substantial: - Annual transaction costs of $400 billion will be eliminated. - Worldwide asset values will increase by about $36 trillion. - Worldwide GDP will increase by about $9 trillion. - Global currency imbalances will be eliminated. - All Balance of Payments problems will be eliminated. - Currency crises will be prevented. - Currency speculation will be eliminated. - The need for foreign exchange reserves, now over $4 trillion, will be eliminated and these funds can be used for more productive purposes than maintaining an inefficient foreign exchange system. If a monetary union in Europe works for 13 countries, soon to be 22, then why not plan for monetary union for 192 countries?
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Examiner Reader said:
The name of the company is USEC, not USCE. Although USEC is their official name, it used to be short for the U.S. Enrichment Corporation.
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