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For Immediate Release
Alan Fogg,
Director of Communications
afogg@fceda.org, 703-790-0600 (o) or 571-213-5065 (m)
Five Fairfax County companies capture
$20.1m in venture capital investment in Q3
County total is 46 percent of Virginia investments,
FCEDA says
Fairfax County, Virginia, November 11, 2003—Five Fairfax County-based technology companies received $20.1 million in venture capital investments in the third 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 county total is 46 percent of the amount invested in Virginia companies during the quarter. Combined with first- and second-quarter totals, 32 Fairfax County companies have received almost $174 million in venture capital investment so far in 2003. More than $2 billion has been invested in Fairfax County companies since 1999.
Fairfax County-based companies and the amount of venture capital received in April, May and June 2003:
“I am delighted to see the interest from investors in these companies. Attracting venture capital is important because companies that receive investments are more likely to grow here and add jobs for our residents,” said Gerald L. Gordon, Ph.D., 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 (www.FairfaxCountyEDA.org) 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.
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