|
FOR IMMEDIATE RELEASE
Alan Fogg, FCEDA, afogg@fceda.org,
703-790-0600 (o) or 571-213-5065 (m)
Thirteen Fairfax County companies lure
$54m in venture capital investment in Q2
County total tops Maryland and is 72 percent of Virginia investment, FCEDA says
Fairfax County, Virginia, August 4, 2003 – Thirteen Fairfax County-based technology companies received $53.9 million in venture capital investments in the second quarter of 2003, according to figures compiled by the Fairfax County Economic Development Authority (FCEDA) and based on the PricewaterhouseCoopers/Venture Economics/National Venture Capital Association MoneyTree™ Survey.
The Fairfax County total topped the $40.5 million invested in Maryland firms during the second quarter and represents 71.6 percent of the $75.2 million of venture capital invested in Virginia firms during the quarter. The Fairfax County total is 29.5 percent of the $183 million invested in firms throughout the Washington, D.C., area.
Combined with first quarter totals, 27 Fairfax County companies have received $153 million in venture capital investment so far in 2003. More than $2 billion has been invested in Fairfax County companies since 1999.
“The fact that more money was invested in Fairfax County companies than in those of most states is an indication of our sustained leadership among IT companies. The companies receiving venture capital are the most likely to grow and be able to offer long-term, rewarding jobs to our residents,” said Gerald L. Gordon, president and CEO of the FCEDA.
Thirty-four venture capital firms and organizations have offices in Fairfax County, the highest concentration in the Washington area.
The Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA assists businesses by identifying possible sites and facilities. The FCEDA maintains a capital attraction program to link entrepreneurs and start-up companies with funding sources. The FCEDA maintains marketing offices in London, Frankfurt and Tokyo.
Fairfax County-based companies and the amount of venture capital received in April, May and June 2003:
# # #
| 
