When we wrote, one year ago, about the rise of outside "growth" cash on the D.C. venture scene, LLR Partners was one of the firms on our radar. The Philadelphia-based investment group, which had put anundisclosed amount of cash in Columbia-based Message Systems, was clearly scouting out the region for more deals.
On Thursday, LLR doubled down on that plan, announcing the opening of an Arlington office and two local hires— Jason Rigoli and Michael Levenberg. They will expand the firm's portfolio in security, defense and government services. That sector "is an increasingly important area for us," LLR Partner David Stienes said in a statement.
As we mentioned in 2012, one LLR representative, David Siegel, is already based here. The firm plans to invest in companies with between $25 million and $250 million in revenue. Its new office sits at 3033 Wilson Blvd., Suite 700.