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 outside Washington, D.C. He's written for Wired, Backchannel, Popular Science, Fortune, the Washington Post Magazine, the Atlantic and elsewhere.

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