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CIT Gap Funds / Investing / Venture capital

These 3 tech investors are the most active in the DMV: report

New Enterprise Associates, CIT GAP Funds and TCP Venture Capital top the list of local tech investors in the DMV region, according to a report from CB Insights.

DMV tech startups need investments. (Photo by Pixabay user nattanan23, used under a Creative Commons license)

Three investment firms topped the list of local tech investors in the DMV region according to CB Insights‘ report, The United States of Venture Capital.

The report looks at the most active venture capital firms in each U.S. state based on unique tech portfolio investments. Chevy Chase, Md.-based New Enterprise Associates (NEA) was listed as the most active tech investor in the District while CIT GAP Funds topped the list in Virginia and TCP Venture Capital in Maryland. The report looked at their unique tech investments between 2014 and Jan. 24, 2019.

CB Insights said it excluded debt deals and only considered venture capital, corporate venture capital, super angel and growth equity firms. In the case of a tie, CB Insights used recency of deals, overall deal activity and investor quality. NEA was the only firm to lead more than one state with the most investments in D.C. and New Jersey. CB Insights’ last conducted this report in May 2017 and since then, there has been 21 changes in the top investor slots. According to CB Insights, Fortify Ventures led the way in D.C back in May 2017.

Previously, NEA led a $41 million funding round for Frederick, Md.-based cloud infrastructure company Fugue. CIT Gap Funds continues to make many investments in local tech companies, most recently in medtech company Tympanogen and NOVI, a company that develops hardware and data analytics platforms for the emerging new space industry.

Companies: New Enterprise Associates

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