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GAP Investment Advisory Board
Daniel Barchi
Carilion Biomedical Institute
Hiram Ewald
Tall Oaks Capital
Tom Grossi
New Enterprise Associates
Peter Jobse
Center for Innovative Technology
Eric Koefoot
Dr. Bruce Robertson
H.I.G. Ventures
John Uhrin
Harbert Venture Partners
Tom Weithman
CIT GAP Funds
S. Tien Wong
Opus8 |
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| Recent CIT GAP Fund Activity
KZO Innovations secured a strategic partnership and technology development agreement with In-Q-Tel to support the US Intelligence Community. KZO was also chosed by AlwaysOn as on of the OnDC Top 100 Private Companies. KZO is an R&D and software development company pioneering and delivering innovative streaming video solutions. KZO's fusion of digital video expertise, advanced technology development and business process management enables the company to provide customers with unprecedented innovation and ROI-based effectiveness in the rapidly evolving global market for technology enabled knowledge, training, education, analytics and communications. For more information visit, www.kzoinnovations.com.
Innovative Biologics secured a $1M grant from the NIH National Institute of Allergy and Infectious Diseases to continue their small molecule blockers of b. anthracis toxin project. IBI also received $650K in NIH funding in 3Q 2009. Innovative Biologics, Inc. (IBI), an anti-infective drug discovery and development company searching for new anti-microbial drugs targeting bacterial toxins. For more information visit, http://www.innovbio.com Mplayit teamed up with Player X to launch a new game discovery service on O2 UK, and partnered with MetaFlow. Mplayit is the leading global provider for online discovery and social merchandising of mobile games and applications. The company's proprietary software solutions enable mobile content providers to better merchandise, market, and interact with a targeted user audience of mobile consumers. Mplayit is based in Ashburn, Va., and is backed by New Atlantic Ventures. For more information, visit www.mplayit.com or email info@mplayit.com . You can also follow Mplayit on Twitter: @Mplayit. RollStream joined forces with GXS to transform B2B trading partner community management. The two companies will offer organizations with large and complex trading partner networks an online solution to accelerate communication and collaboration with their business partners. RollStream is the leader in enterprise community management, RollStream's business-to-business collaboration platform is transforming business networks in the same way that social software has transformed personal networks. Fortune 500 market leaders, including McKesson, Owens & Minor, and Ethicon/Johnson & Johnson, are using RollStream to revolutionize their partner relationships and achieve multi-million dollar returns on their investment. Visit www.rollstream.com to learn more. Verical launched its online component market to defeat counterfeit chip fraud. Verical is the creator of the Verical Marketplace, an online trading platform for electronic components that reduces the risk of chronic inventory surpluses and shortages. For sellers, Verical works with component manufacturers, OEMs and contract manufacturers to monetize excess inventory at substantially higher yields. For buyers, Verical provides small electronics firms to global high-tech manufacturers with a unique pedigree scoring system that hastens sound shortage purchasing. Founded in 2007, Verical is a San Francisco-based start up backed by Valhalla Partners. The company is experiencing rapid growth with over 27,000 unique part numbers available today in the Verical Marketplace at www.verical.com. |
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Recent Venture Activity
According to the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association based on data by Thomson Reuters, during Q3 2009, VCs invested $4.8B in 635 companies nationwide. Of which, 285 deals were considered seed or early-stage.
During Q3 2009, VCs invested $35.2M in 6 Virginia-based companies. Of which, 1 deal were considered seed or early-stage. Entrepreneurs raised the money from funds in VA, MD, CA, and MA. The most active funds for VA companies included Novak Biddle, Columbia Capital, Friedli Corporate Finance, Gold Hill Capital, Greylock Partners, Grotech Ventures, Walden Israel, Lightspeed Venture Partners, New Enterprise Associates, and Pitango Venture Capital.
Broken out by sector, VCs invested in 3 software firms, 1 electronic/instrumentation firm, 1 networking and equipment firm, and 1 computers and peripherals firm. |
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3Q 2009 Venture Activity in Virginia:
(as reported by MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association based on data by Thomson Financial)
Seed and Early-Stage
Reverb Networks, an Asburn, VA-based developer of smart antenna solutions, closed a $9M round from Friedli Corporate Finance.
Later and Expansion Stage
Approva, a Reston, VA-based developer of continuous controls monitoring and audit software, closed a $14M round from Columbia Capital, Gold Hill Capital, New Enterprise Associates, Novak Biddle Venture Partners, and Sierra Ventures.
Camero, a Vienna, VA-based developer of micro-power radars, closed a $2M round from Alta Berkeley Venture Partners, Greylock Partners, Jerusalem Global Ventures, and Walden Israel.
Digital Signal, an Alexandria, VA-based developer of long range true three-dimensional facial recognition technologies, closed a $750K round from Novak Biddle.
OpenQ, a Charlottesville, VA-based developer of tools for information and research, closed a $2.5M round from Grotech Ventures.
WeFi, a Fairfax, VA-based developer of open WiFi networks, closed a $7M round from Lightspeed Venture Partners and Pitango Venture Capital. | |
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