CHANGE MY LOCATION
Business
Examiners
Business Examiner
Most Recent Post
Commercial paper - what it is, and why it matters
Internet Business Examiner
Most Recent Post
Digression: YouTube video isn't a commercial but could be
California News
Multimedia News
More than $271 million in venture capital invested in D.C. area during second quarter
SEE THE LATEST ON THIS STORY
Related Topics: Washington DC
Washington DC (Map, News) - More than $271 million in venture capital was invested in Washington-area start up companies in the second quarter of the year, according to data released Wednesday.
Virginia has the most money invested, with more than $137 million going to 22 companies. Maryland had $114 million invested in 24 companies, while the District had $15.5 million invested in four companies, according to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association. The report is based on data from Thomson Financial.
Investments included $13.8 million to Parature Inc., a Vienna software company, and $11.0 million to BioSet, a biotechnology company in Rockville.
D.C. Technology Council President Penny Pickett said the report shows the area continues to attract new companies.
“It goes to show there’s a good choice of venture capital, an entrepreneurial support system and successful companies,” she said. “All of this goes together to make a good infrastructure to attract companies.”
Since the beginning of the year, $482.4 million has been invested in start up companies in the Washington region.
This puts the area in the middle of the national pack in venture capital investments.
Silicon Valley, New England and San Diego have had the largest cash infusions into new businesses this year.
Silicon Valley — as the southern San Francisco Bay area is called — has had $4.9 billion invested so far in 2007, while New England has had $1.8 billion and San Diego has attracted $1.1 billion.
Across the country, $7.1 billion in venture capital was invested in 977 deals in the second quarter, the most investment since the third quarter of 2001.
This follows the first quarter, in which roughly $7 billion was invested.
“Based upon what we’ve seen in the first half of 2007, we may be looking at a new six-year high in [venture capital] investments,” said Tracy Lefteroff, manager partner at Pricewaterhouse. “Venture capitalists have found no shortage of promising companies in which to invest, as indicated by the sharp uptick in the number of deals during the second quarter.”
