Venture capital investments in Montgomery Co. and D.C. area up 30% in Q1 - Technical.ly Baltimore

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May 8, 2013 9:00 am

Venture capital investments in Montgomery Co. and D.C. area up 30% in Q1

Investment is focused on the IT sector, as less money goes to biotechnology and clean technology.

Venture capital investments are down nationally by 6 percent to $5.9 billion in Q1 of 2013, but VC investments to Montgomery County and D.C.-area companies is up 30 percent.

Gazette.Net reports that “the amount [of VC] funneled to Montgomery County and Washington-area companies in 2013’s first quarter jumped by 30 percent from the same period a year ago” to $286.3 million, “the most in the quarter in five years,” according to a report authored by PricewaterhouseCoopers and the National Venture Capital Association and based on Thomson Reuters data.

As for where the money is going, Gazette.Net writes that “[l]ess money is going into capital-intensive sectors such as biotechnology and clean technology — key areas in Montgomery and Frederick counties — and more in the information technology sector.”

Read the full article at Gazette.Net.

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Andrew Zaleski

Andrew Zaleski is a freelance journalist in Philadelphia and the former lead reporter for Technical.ly Baltimore. Before moving to Philadelphia in June 2014, he was a contributing writer to Baltimore City Paper and a Tech Check commentator for WYPR 88.1 FM, Baltimore city’s National Public Radio affiliate. He has written for The Atlantic, Outside, Richmond magazine, Washington City Paper, Baltimore magazine, Baltimore Style magazine, Next City, Grist.org, The Atlantic Cities, and elsewhere.

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