16 Fairfax County Companies Receive $131 Million in Venture Capital Funding in Third Quarter.Fairfax Total Tops Maryland Investment Amount FAIRFAX COUNTY, Va. -- Sixteen Fairfax County-based companies received almost $131.5 million in venture capital investments in the third quarter of 2006, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. figures compiled by the Fairfax County Economic Development Authority (FCEDA FCEDA Fairfax County Economic Development Authority (Virginia) ) based on the recently released PricewaterhouseCoopers/Venture Economics/National Venture Capital Association MoneyTree[TM] Survey. All 16 companies are in technology industry. The Fairfax County total topped the $109 million received by companies in Maryland, and represents 39.6 percent of the $332 million invested in 54 deals involving companies from the Washington region (District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Virginia, Maryland, West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. ), according to the MoneyTree[TM] Survey. The total for Fairfax County companies represents 82.1 percent of the $160 million invested in Virginia companies during the quarter. The third quarter dollar total for Fairfax County companies was more than the first two quarters combined. In the first six months of the year, 19 companies received $112 million in venture capital. The year-to-date total is 35 companies and $243 million in venture capital. Companies that garnered the most venture capital money include Internet communications firm SunRocket ($33 million), IT firm MindSHIFT Technologies ($18.4 million) and Internet company Command Information ($16 million) "Venture capital is an important indicator of entrepreneurial strength and creativity, especially in technology fields," said Gerald L. Gordon, Ph.D., president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the FCEDA. Fairfax County companies have received almost $4 billion in private equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. since the FCEDA began its Capital Attraction Program in 1997 to link entrepreneurs with possible funding sources. More than 30 venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] and organizations have offices in Fairfax County. 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 Washington Dulles International Airport (IATA: IAD, ICAO: KIAD, FAA LID: IAD) is a public airport located 25 miles (40 km) west of the central business district of Washington, D.C., in Loudoun County and Fairfax County, Virginia, United States. , and a well-educated workforce. The Fairfax County Economic Development Authority (www.FairfaxCountyEDA.org) promotes Fairfax County as a business and technology center. The FCEDA maintains worldwide marketing offices in Silicon Valley, Bangalore, Frankfurt, London, Seoul and Tel Aviv. A list of the companies receiving venture capital investment in July, August and September 2006 is available at www.FairfaxCountyEDA.org. |
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