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Contact: Alan Fogg, Communications Director,
afogg@fceda.org, 703-790-0600 (o) or 571-213-5065 (m)
Seven Fairfax County companies take in $39 million in venture capital funding during first quarter
Fairfax County accounts for 72 percent of Virginia total
Fairfax County , Virginia, May 9, 2006 – Seven Fairfax County-based information technology companies received $39.4 million in venture capital investments in the first quarter of 2006, according to figures compiled by the Fairfax County Economic Development Authority (FCEDA) based on the recently released PricewaterhouseCoopers/Venture Economics/National Venture Capital Association MoneyTree™ Survey.
The total for Fairfax County companies represents 72 percent of the $55 million invested in Virginia companies during the quarter. The county total also represents 22 percent of the $180 million invested in 39 deals involving companies from the Washington region (District of Columbia, Virginia, Maryland, West Virginia), according to the MoneyTree™ Survey.
Companies that garnered the most venture capital money included next-generation Internet services firm Command Information ($16 million) and Internet communications companies SunRocket ($12 million) and Aptela ($5 million).
“These companies are on the cutting edge of new technology and reinforce Fairfax County’s reputation as a hotbed of innovation and an attractive location for investors as well as entrepreneurs,” said Gerald L. Gordon, Ph.D., president and CEO of the FCEDA.
Fairfax County companies have received almost $4 billion in private equity funding since the FCEDA began its Capital Attraction Program in 1997 to link entrepreneurs with possible funding sources. More than 30 venture capital firms and organizations have offices in Fairfax County, the highest concentration in the Washington area.
Business growth helps Fairfax County, minutes from Washington, D.C., fund public services such as a top-ranked public school system and library, public safety, social services and park systems that improve the quality of life. Fairfax County offers diverse real estate options, access to domestic and international markets through Washington Dulles International Airport, a business community based on technology and professional services, and a well-educated workforce.
The Fairfax County Economic Development Authority ( www.FairfaxCountyEDA.org), which has been recognized by Site Selection magazine as one of the top economic development groups, promotes Fairfax County as a business and technology center. The FCEDA assists businesses by identifying possible sites and facilities, and provides demographic and economic statistics. The FCEDA maintains overseas offices in Bangalore, Frankfurt, London, Seoul and Tel Aviv.
Below is a list of companies receiving venture capital investment in January, February and March 2006.
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