Venture investment rises
Md. broadband company is No. 3 in nation in drawing dollars
By Tricia Bishop
Sun reporter
Originally published January 23, 2007
A Germantown company that transfers high-speed data over power lines drew one of the country's biggest venture-capital investments last year, tying an Arizona business for third place, according to year-end information being released today.
The $130 million that Current Communications Group raked in last spring from investors including General Electric Co., Goldman Sachs & Co. and Earthlink Inc. was more than twice the next largest deal for a Maryland company.
"That's cool," Jay L. Birnbaum, Current's vice president, said upon hearing the news. He says he's already working on a way to top it.
The big investment in Current reflected the headway that businesses tied to energy are making in getting venture investment, leading analysts to predict alternative power and fuel sources might be the next big thing down the road.
Four of the seven largest venture capital investments last year, including Current's, were energy-related, according to the quarterly Money Tree Report.
read more Venture investment rises
Tuesday, January 23, 2007
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