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Venture Capital Surges in Maryland
Investment in venture capital surged in the state during the second quarter, according to new data from PriceWaterhouseCoopers and the National Venture Capital Association (PWC & NVCA). The influx totaled $101 million, up 53% from the previous quarter, and doubles the level of last year’s second quarter. This increase indicates improving confidence in the still volatile public markets and economy. It also reflects the area's general strength in the bioscience and software sectors.
A total of 26 venture deals were recorded during the quarter. Bioscience investments lead the way, accounting for 10 of the deals and $29 million in total investment. A single financial services deal by ABS Capital Partners Woodbrook Capital in Brown Investment Advisory & Trust accounted for $25 million. The software sector accounted for another $10 million of investment during the quarter. One substantial deal that did not make the PWC & NVCA tally for the quarter was a $40 million round of equity financing for the information technology firm Virtustream. Complete Report.
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