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Contact: Alan Fogg, afogg@fceda.org,
703-790-0600 (office) or 571-213-5065 (mobile)
Eight Fairfax County companies receive
nearly $32 million in venture capital funding in first quarter
Fairfax County
accounts for 42 percent of Virginia total
Fairfax County, Virginia USA, April 27, 2007 – Eight
Fairfax County-based companies received $31.7 million in venture
capital investments in the first quarter of 2007, 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.
All eight companies work in the technology industry.
The total for Fairfax County companies represents 42 percent
of the $75.5 million invested in Virginia companies during
the quarter. The county total also represents 16.1 percent
of the $197.5 million invested in 41 deals involving companies
from the Washington region (District of Columbia, Virginia,
Maryland), according to the MoneyTree™ Survey.
Companies that garnered the most venture capital money include
Clarabridge Inc. ($7.5 million), Netuitive ($7 million) and
SecureInfo Corporation ($5 million).
“Once again we lead the Commonwealth of Virginia in
venture capital funding,” said Gerald L. Gordon, Ph.D.,
president and CEO of the FCEDA. “ Fairfax County entrepreneurs
are finding the financial resources that are needed to start
and grow a company.”
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 fund public services,
such as the nation’s top-rated school system, that contribute
to the quality of life of its residents. Fairfax County offers
businesses a state-of-the-art telecommunications infrastructure,
access to domestic and international markets through Washington
Dulles International Airport, and a well-educated workforce.
Below is a list of Fairfax County companies that received
venture capital investment in January, February and March 2007:
The Fairfax County Economic Development Authority (www.FairfaxCountyEDA.org)
promotes Fairfax County as a business and technology center.
The FCEDA’s Capital Attraction Program links technology
entrepreneurs with potential investors. Another program supports
the growth of minority and woman-owned businesses. The FCEDA
maintains worldwide marketing offices in Silicon Valley, Bangalore,
Frankfurt, London, Seoul and Tel Aviv.
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