Thirty-seven companies in Fairfax County receive $255.1 million in venture capital in '08

Fairfax total represents more than half of all deals in Virginia

Fairfax County, Virginia USA, Friday, March 27, 2009 -

Thirty-seven Fairfax County-based companies received $255.1 million in venture capital investments in 2008, 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. Of the 37, six received multiple rounds of financing bringing the number of deals for the year to 45.

Fairfax County deals represented 57.3 percent of the 78 venture capital deals made in the Commonwealth of Virginia in 2008 and 25.4 percent of the deals made in the Washington region during the year, according to the MoneyTree ™ Survey. More than 30 venture capital firms and organizations have a presence in Fairfax County.

Fairfax County-based companies leading the way with the most venture capital investment in 2008 include GlobalLogic ($29.5 million) and Clearspring Technologies ($19 million).

Gerald L. Gordon, Ph.D., president and CEO of the FCEDA, noted that the number of Fairfax County deals in 2008 equaled those in 2007, while the value of the deals dropped just 5 percent. “It is a testament to the technology and venture capital communities in Fairfax County that we are seeing a relatively constant level of investment even in this economy,” Gordon said.

Following is a list of Fairfax County-based companies that received venture capital investment in the third and fourth quarters of 2008: