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News & Announcements

03/01/2012 – CIT GAP Funds Invests in Brazen Careerist

The Center for Innovative Technology (CIT) announced today a $100,000 investment in McLean, Va.-based Brazen Careerist. Brazen Careerist is an online career resource that combines virtual recruiting events with online education and training to help young professionals discover their strengths, refine their skills and find their ideal job.

02/29/2012 – CIT GAP Funds Invests in Villagize

The Center for Innovative Technology (CIT) announced today an investment in Oakton, Va.-based Villagize, a social networking website that connects people in their local residential community.

02/28/2012 – Edison VII Raises $249 Million

Edison Ventures is pleased to announce the final closing of Edison Venture Fund VII at $249 million. Limited Partners include pension funds, financial institutions, endowments, family offices and fund of funds.

02/28/2012 – Hillcrest Labs, Backed by Grotech Ventures and Columbia Capital, Raises $4M

Hillcrest Laboratories Inc. has raised $4 million, or 72 percent of a $5.5 million offering of debt and convertible securities, according to an SEC filing. Principals named in the filing by the Rockville-based maker of electronics products are: · Founder, Chairman, President and CEO Daniel Simpkins; · CFO Peter Jackson; · Director Peter Barris of Menlo Park, Calif.-based New Enterprise Associates; · Director Frank Adams of Vienna, Va.-based Grotech Ventures; and · Director R. Philip Herget of Alexandria, Va.-based Columbia Capital.

02/27/2012 – New Atlantic Ventures does a flurry of deals

Over the past week, the Reston- and Cambridge, Mass.-based venture capital firm has been part of funding announcements for Of Course Meals, Truveris and Yieldbot. And it plans to announce another deal at South By Southwest next month, said founder and Managing Partner John Backus.

02/23/2012 – Truveris Attracts $10 Million in New Capital, Contains Drug Benefit Costs

New Atlantic Ventures, the early-stage venture capital firm based in Reston and Cambridge, Mass., said it has increased its investment in New York-based Truveris, a developer of software designed to increase efficiency in the prescription claims process.

02/23/2012 – NEA Joins $15M Round for Satori Pharmaceuticals

Satori Pharmaceuticals, which develops therapeutics for Alzheimer's disease (AD), has raised an additional $15 million in financing. Current investors InterWest Partners, New Enterprise Associates Inc. (NEA) and Prospect Venture Partners co-led the round.

02/22/2012 – Resonate Ready to Revolutionize Big Data Through Breakthrough in Values Marketing

Resonate, a Reston-based developer of audience targeting technology, said on Wednesday it has raised more than $20 million in its second round of funding, led by Revolution Growth, the DC-based investment firm created by AOL co-founder Steve Case and Wizards and Capitals owner Ted Leonsis.

02/22/2012 – MAVA’s Annual Crystal Ball Breakfast

Industry Outlook 2012 Launching the 2012 Signature Programming lineup in February, MAVA hosted two Crystal Ball – Industry Outlook breakfasts to showcase the expertise and real-time insights from 10 of the nation’s leading investors, based in the Mid-Atlantic region.

02/16/2012 – Compass Labs Secures $6M in Funding from New Enterprise

New Enterprise Associates (NEA), the Chevy Chase-based venture capital firm, said it has co-led a new $6 million round of funding for Compass Labs, the Silicon Valley-based developer of a social media advertising platform. Presidio Ventures also co-led the round, which the company will use to further develop its core CLIQ platform, as well as bolster sales and marketing efforts and expand into international markets.

02/14/2012 – EDG Partners Closes Second Fund, Actively Seeks Investment Opportunities in Healthcare

EDG Partners, a healthcare-focused private equity firm with dual headquarters in Arlington and Atlanta, said it has raised $177.8 million for its second fund. The firm said the fund, known as EDG Partners Fund II, typically will invest $5-$30 million in businesses across the healthcare sector, including those in clinical services, people and business services, manufacturing and distribution and insurance services.

02/13/2012 – Solar Junction Closes $19.2 Million Round for Scaling of Manufacturing

New Enterprise Associates (NEA), the Chevy Chase-based venture capital firm, said it has increased its stake in Solar Junction, a San Jose-based developer of high-efficiency solar cells. NEA was one of four participants in a new $19.2 million round of funding for the company, led by IQE. Solar Junction said the capital will allow it to "meet demand and fulfill current and future orders with a number of CPV [concentrated photovoltaic] companies."

02/13/2012 – Syncom Leads $4M Round in AppTap

AppTap closed a $4M round of institutional funding, led by Syncom Venture Partners, with participation from existing investor, New Atlantic Ventures. AppTap will use the investment to enhance its app recommendations service for consumers and to broaden its app advertising capabilities for developers and expand its global distribution partnerships.

02/02/2012 – CIT GAP Funds Invests in WireTough Cylinders, LLC of Bristol, VA

The Herndon-based Center for Innovative Technology (CIT) said it has invested $200,000 in Bristol-based WireTough Cylinders, a maker of compressed natural gas (CNG) cylinders for alternative-fuel vehicles.

01/25/2012 – Prosensa Raises €23 Million in New Equity Financing Led by New Enterprise Associates

Chevy Chase, Md. -- New Enterprise Associates (NEA), the Chevy Chase-based venture capital firm, has led a new $30.1 million round of funding in Dutch biopharmaceutical firm Prosensa, which is developing RNA-modulating therapeutics to treat rare diseases. Previous backers Abingworth, Life Sciences Partners, Gimv, Idinvest Partners and MedSciences Capital also participated in the round. David Mott, general partner of NEA, will join the company's supervisory board. Mott called Prosensa "one of the most promising emerging European biopharmaceutical companies." The company is targeting treatments for Duchenne muscular dystrophy (DMD), Myotonic Dystrophy (DM1) and Huntington's disease (HD).

01/24/2012 – Reston-Based Goodzer Raises $650,000 in New Funding – Spring TechBUZZ presenter

Reston, Va. -- Goodzer, the Reston-based developer of a local product search engine designed to help users find items from nearby stores, has raised $650,000 in new funding, according to CEO Dmitry Pakhomkin. As initially reported by the Washington Business Journal, investors included several current and former Cree executives, including Neal Hunter, John Palmour and Cengiz Balkas. Goodzer now features more than 2 billion products from over 500,000 brick-and-mortar locations, checking prices and availability in real time from any merchant that lists items on a website. Pakhomkin said Goodzer plans to feature products from more than 1 million stores in the next several months, as the company proceeds on its expansion plans.

01/24/2012 – Wheaton-Based Shopsy One of 13 Selected for TechStars Boston

Wheaton, Md. -- Shopsy, the Wheaton-based developer of an online shopping engine that delivers custom outfit recommendations to women, said it has been accepted into the winter session of the TechStars business accelerator in Boston. The startup, headed by founder Lisa Morales-Hellebo, will be one of 13 companies to participate in the bootcamp, and the only one with local origins. Each company receives seed funding, along with mentorship and space at TechStars' facility in Cambridge, Mass. In exchange, TechStars takes a 6% stake in each startup. Shopsy also was one of 24 companies selected last fall by the Mid-Atlantic Venture Association (MAVA) to present at TechBUZZ, which was held in conjunction with DC Week.

01/08/2012 – TEDCO names its cyber fund Orange Knocks

We wrote last month about the Maryland Technology Development Corp.'s planned $20 million cybersecurity fund. Today, the state-backed investment group gave that fund a name: Orange Knocks.

12/06/2011 – Mid-Atlantic Venture Association Announces Deputy Executive Director

The Mid-Atlantic Venture Association (MAVA) announced today the appointment of Kimberly Weir as Deputy Executive Director. The creation of the new Deputy Executive Director role reflects MAVA's renewed commitment to expand and deepen the value that the organization provides to its investor members, corporate partners, and the entrepreneurial community in an ever-changing market environment.

11/07/2011 – State of Maryland RFP for consultant to select recipient firms for new InvestMaryland Fund.

The State of Maryland is seeking assistance in securing RFPs for qualified agents/consultants who can assist them in selecting investors for the newly established InvestMaryland Fund. Details are outlined in the attached RFP as issued by the State’s Department of Business and Economic Development.

05/13/2011 – Company Builders Flock to Tech Investor Conference in Record Numbers

The Mid-Atlantic Venture Association (MAVA) wrapped its annual Capital Connection ’11 conference today in Washington, DC. With more than 900 registered of the two conferences, Capital Connection and TechBUZZ, this year broke attendance records not seen since 1999. Sixty-four tech companies were showcased during the 2 events over two days and joined hundreds of other entrepreneurs in attendance.

05/06/2011 – Investor Panel to Kick Off Capital Connection ‘11

The Mid-Atlantic Venture Association announced today it will feature a panel of leading investors from a variety of private equity and venture capital firms who represent a spectrum of investment capital as the opening discussion for this year’s Capital Connection in Washington, DC on May 12 & 13. The panel, "The Stages of Capital," will feature Patrick Kerins, general partner, New Enterprise Associates; Nigel Morris, managing partner, QED Investors; Don Rainey, general partner, Grotech Ventures; Bob Smith, managing director, JMI Equity; and Ashton Newhall, Partner, Greenspring Associates. The Plenary discussion will address an topic of importance to all privately financed companies irrespective of their stage of development, and will center around the availability, differences, interdependence and trends effecting many of today’s sources of capital.

04/22/2011 – Twitter Co-founder Biz Stone to headline Capital Connection ’11

Twitter co-founder and blogger, Biz Stone will headline as this year’s keynote speaker for Capital Connection on May 13 in Washington, DC. Mr. Stone is an entrepreneur and author best known for co-founding Twitter. An advocate of social networking and blogging, Stone has been developing large scale systems that facilitate the open exchange of information for more than a decade. Stone has been named Entrepreneur of the Decade by Inc Magazine, one of the most influential people in the world by TIME magazine, Nerd of the Year by GQ, and one of Vanity Fair's Top Ten Most Influential People of the Information Age.

04/05/2011 – Tucker Carlson to headline Capital Connection ’11

Tucker Carlson, co-founder and editor-in-chief of the, Fox News commentator, and fellow at the Cato Institute will address this year’s audience of technology-focused entrepreneurs, investors, and corporate leaders at Capital Connection ’11 in Washington, D.C. on May 12 and 13. Carlson co-founded the online news website,, and he is a veteran journalist and political commentator, previously hosting programs on MSNBC, CNN and PBS. Carlson will discuss his own experience surrounding launching a technology venture as well as changes and trends in the digital media industry.

12/03/2010 – Capital Connection '11 to be in Washington DC

The Mid Atlantic Venture Association announced today that its annual flagship event Capital Connection would be held on May 12-13 at the JW Marriott Hotel in Washington, DC.

10/29/2010 – 2010 Mid-Atlantic Bio Conference Hosted a Stellar Lineup of Industry Luminary Speakers

The 2010 Mid-Atlantic Bio today completed another successful conference hosting more than 728 registrants from 22 states and 4 countries, with more than 400 companies and 50 qualified investors participating. Dedicated to promoting the biotechnology industry in the Mid-Atlantic region, the conference is hosted collectively by the region’s most influential bioscience and investor associations, the Mid-Atlantic Venture Association (MAVA), the Tech Council of Maryland/MdBio (MdBio) and the Virginia Biotechnology Association (VaBIO).

05/18/2010 – MAVA Elects New Board Members

The Mid-Atlantic Venture Association (MAVA) today announced that four industry leaders have been elected to the board of directors for three-year terms: Steve Balistreri of Argy, Wiltse & Robinson, P.C.; Trevor J. Chaplick of Proskauer Rose LLP; Mark Maloney of Paladin Capital Group; and Thomas D. Roberts III of Harbert Venture Partners LLC. With the election of the four new directors, 27 industry leaders serve on the MAVA board.


The Mid-Atlantic Venture Association (MAVA) today announced that Joe Mecane, an Executive Vice President with NYSE Euronext, will deliver a keynote address on Thursday, May 20 at Capital Connection ’10, May 19-20, at the Hilton Baltimore Hotel, Baltimore, MD.


Mid-Atlantic Venture Association today announced that Howard Schmidt, White House Cybersecurity Coordinator, National Security Council, will deliver a keynote address at its annual technology innovation and investment conference, Capital Connection ’10 on May 19 at the Hilton Baltimore Hotel, Baltimore, MD.


Mid-Atlantic Venture Association today announced a stellar lineup of later stage growth companies that will showcase their operations at its flagship technology, business and investment conference, Capital Connection ’10, to be held May 19-20, at the Hilton Baltimore Hotel, Baltimore, MD.

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