| Send to Printer | << Back to Article |
| Business |
|
Fairfax companies account for majority of venture capital investments in area
Fairfax -
Funding received by start-up companies in Fairfax County accounted for 63 percent of the total venture capital invested in the area last quarter, according to a new analysis from the Fairfax Economic Development Authority. The authority’s analysis was based on the PricewaterhouseCoopers/Venture Economics/National Venture Capital Association MoneyTree Survey, which tracks the amount of venture capital being invested in regions around the country. According to the survey, $86.1 million of $137.2 million in venture capital funds invested in the greater Washington region went to 12 companies in Fairfax. For the year, 32 percent of all venture capital money ended up in Fairfax. According to the authority, more than $4 billion has been invested in start up companies in Fairfax since 1997. “We are pleased that such significant interest remains in the venture capital community about the entrepreneurs in Fairfax County,” authority President Gerald Gordon said. “A good idea and hard work are still the hallmarks of business growth.” All the money was invested in technology companies. D.C. Tech Council President Penny Pickett, whose group aims to grow the region’s technology sector, said concentrations of investment in places like Fairfax attract more businesses and more money. “It shows there’s a good choice of venture capital, there’s an entrepreneurial support system and successful companies,” she said. “All of this goes together to make a good infrastructure and attract companies.” The largest investment in Fairfax was a $13.9 infusion into Parature, a company that manufactures help desk software. Avail Media, a company that helps facilitate the delivery of media on the Web, received a $12.2 million investment. dfrancis@dcexaminer.com |
