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FOR IMMEDIATE RELEASE
Alan Fogg,
Director of Communications
afogg@fceda.org, 703-790-0600
Fairfax County Companies Lure $311 Million in Venture Capital
Number of firms receiving investments equals quarterly record, year's deal flow approaches $1 billion, FCEDA says
Fairfax County, Virginia, November 13, 2000 — Thirty Fairfax County-based companies attracted $310.97 million in venture capital investment during the third quarter of the year, according to figures compiled by the Fairfax County Economic Development Authority (FCEDA). The number of county-based companies receiving venture capital equaled a quarterly record. The dollar amount dropped slightly from the second quarter but topped $300 million for the third straight three-month period and reached $977 million for the year.
The MoneyTree Report produced by PricewaterhouseCoopers tallied 29 Fairfax County companies that received $308.47 million in private equity investment, and a separate source included an additional company that received a $2.5 million investment to bring the total to $310.97 million. Twelve software firms led the Fairfax County deal list followed by five each in telecommunications and business services, four in health care services, two in new media, and one each in medical devices and an industrial category.
"We've heard a lot about how the focus of venture capitalists is changing, but the predominance of Fairfax County companies in software, Internet infrastructure and business services has kept the deal flow extremely strong here," said Dr. Gerald L. Gordon, president of the Fairfax County Economic Development Authority. Venture capital investment in Fairfax County companies was $187 million in all of 1998, he noted.
The Fairfax County investments reported by PricewaterhouseCoopers represent 59.7 percent of the Virginia dollar total and 53.7 percent of the deals statewide. The Fairfax County investments are 35.2 percent of the dollar total and 34.5 percent of the deals in the Washington, D.C., area, which includes the states of Maryland and Virginia and the District of Columbia.
Investment in Fairfax County companies for the four previous quarters:
- 2Q00: $338.83 million, 24 companies.
- 1Q00: $327.3 million, 30 companies.
- 4Q99: $222.3 million, 18 companies.
- 3Q99: $161.9 million, 16 companies.
The Fairfax County companies receiving private equity investments as reported by PricewaterhouseCoopers, the companies' Web sites and their investment totals:
- Atrion International, Reston, $5.0 million.
- Brainhunter.com, McLean, $12.0 million.
- Collaborex, Fairfax, $5.0 million.
- comScore, Reston, $30.6 million.
- CyberRep.com, McLean, $7.63 million.
- Digital Focus, Herndon, $7.0 million.
- Electronic Trading Solutions, Herndon, $5.0 million.
- Engenia, Reston, $22.5 million.
- Focus Technologies, Herndon, $25.0 million.
- Implant Solutions, $.03 million.
- Infomech, Annandale, $3.6 million.
- LifeMetrix, McLean, $3.03 million.
- Managed Objects, McLean, $16 million.
- MEI Systems, Reston, $1.2 million.
- Motient Satellite Ventures, McLean, $8.0 million.
- NETSEC, Herndon, $11.0 million.
- Opion LLC, Herndon, $3.2 million.
- Orblynx, Fairfax, $10.0 million.
- Para Protect Services, Centreville, $3.5 million
- Reliacast Inc., Herndon, $35.0 million.
- Sandbox.com, Reston, 20.0 million.
- ServiceBench, Fairfax, .58 million.
- Step 9 Software, Fairfax, 14.0 million.
- Sunrise at Home, McLean, 12.0 million.
- TransCore, Vienna, $20.5 million.
- Vistranet Communications, Reston, $.80 million.
- Webversa, Fairfax, $5.3 million.
- Wired Business Inc., Vienna, $15.0 million.
- Workscape Inc., Reston, $6.0 million.
The company reported by a separate source:
The Fairfax County Economic Development Authority provides a wide array of services and information designed to promote Fairfax County as a world center of commerce and trade. The FCEDA runs a capital attraction program to increase deal flow and the number of venture capitalist firms in Fairfax County. Visit the FCEDA Web site at www.FairfaxCountyEDA.org.
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