Tuesday, April 29, 2008

Local venture funding

Venture Funding Rises 13.9% in Region
Venture capitalists invested $264.6 million in the Washington area in the first three months of 2008, up 13.9 percent from the comparable period a year earlier, according to a MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association. The report was based on data from Thomson Reuters.

"In spite of strong headwinds, the venture market is still pretty robust," said Don Rainey, a general partner with Vienna-based Grotech Ventures, a venture capital firm. "It is doing well locally."

May it be a sign of things to come.

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