By Terence O'Hara
Monday, July 31, 2006; Page D08
Venture capital funds put more money into Washington area companies in the second quarter than during any three-month period in the past four years.
Flush with cash and eager to put money into promising biotech and expanding technology firms, venture investors funded 54 companies to the tune of $455 million in the quarter. In the first quarter, 46 area firms raised $187 million, and in last year's second quarter 60 firms raised $291.6 million.
The surge in VC funding was driven by one giant telecom deal and two large biotech deals during the quarter.
Current Communications Group LLC , a Germantown firm that offers broadband Internet access over electrical power lines, raised $130 million in expansion capital from EarthLink , General Electric and Goldman, Sachs & Co .
CoGenesys Inc . , a Rockville spinoff from Human Genome Sciences Inc. , raised $55 million from New Enterprise Associates and other VC firms. MacroGenics Inc . , also of Rockville, raised $45 million from Alta Partners , Red Abbey Venture Partners and others.
Current and CoGenesys were the first and fifth-largest venture capital deals in the nation in the quarter.
MORE...
====
BROADBAND over POWER LINES: new 200 Mbps Technology !!!
Monday, July 31, 2006
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment