|
Contact: Alan Fogg, afogg@fceda.org,
703-790-0600 (office) or 571-213-5065 (mobile)
Twelve Fairfax County companies receive $86 million in venture capital funding in second quarter
Fairfax County accounts for 63 percent of Virginia total
Fairfax County, Virginia USA, August 22, 2007 – Twelve Fairfax County-based companies received $86.09 million in venture capital investments in the second 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 12 companies work in the technology industry.
The total for Fairfax County companies represents 63 percent of the $137.13 million invested in Virginia companies during the quarter. The county total also represents 31.7 percent of the $271.70 million invested in 52 deals involving companies from the Washington region (District of Columbia, Virginia, Maryland and West Virginia), according to the MoneyTree™ Survey.
Companies that garnered the most venture capital money include Parature ($13.9 million), Avail Media, Inc. ($12.2 million), VidSys, Inc. ($10 million) and Ruckus Network, Inc. ($9.9 million).
“We are pleased that such significant interest remains in the venture capital community about the entrepreneurs in Fairfax County. A good idea and hard work are still the hallmarks of business growth,” commented 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 fund programs—such as the nation’s top-rated school system and public safety, library, park and human services—which 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.
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.
Below is a list of Fairfax County companies that received venture capital investment in April, May and June 2007:
# # #
| 
