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BUSINESS
By Jay Hancock | February 1, 2004
THE PARTNERS at New Enterprise Associates, Baltimore's storied $6 billion venture-capital firm, are probably not thrilled that this column will disclose their confidential results from two decades of investing in health care and technology startups. But they seem to understand that times change and that light will pierce the exclusive venture-capital club whether venture capitalists like it or not. It's hard to hide $6 billion. Venture capital, which mints companies from dreams and ignited the technology boom of the 1990s, has become too big, too lucrative and too dependent on government pension money to operate in the shadows.
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NEWS
By Jamie Smith Hopkins, The Baltimore Sun | April 19, 2014
Jenny Morgan headed a health care IT company for years before jumping to private equity, but she realized her passion wasn't investing in firms — it was being in the trenches, running one. So when the founder of Linthicum-based basys wanted to bring in a new CEO, she happily took the job in 2009. The timing — during the rough recession — wasn't ideal. But she says the benefits-administration software company made good use of the downtime and positioned itself for growth. Basys, which employs nearly 100 people, focuses on a very specific niche: helping "Taft-Hartley" funds, entities that manage union members' benefits, with their administration.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,University of Baltimore | February 27, 1991
Maryland venture-capital firms invest 90 percent of their capital out of state, making it harder for local start-up companies to gain financing, especially in the biotechnology industry, says a new University of Baltimore study."
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 4, 2014
Former NAACP President and CEO Benjamin Jealous, who stepped down in December, is joining a West Coast venture capital firm specializing in startups that diversify the tech industry and aim to have a positive social impact. Jealous, who will continue to reside in Silver Spring, will become a partner in the Kapor Center for Social Impact, joining entrepreneurs and center co-founders Mitchell Kapor and Freada Kapor Klein, the center said Tuesday. Kapor, which backs firms through its investment arm, Kapor Capital, works to close gaps in access, opportunity, wealth and participation.
BUSINESS
By Jay Hancock and Jay Hancock,SUN STAFF | September 4, 1997
Venture capital continues to flow along the mid-Atlantic coast, as the economy swells and investors infuse dozens of infant and toddler companies with money and energy.Both Maryland and Virginia booked healthy increases in venture-capital placements during the first half of this year, according to a new survey by Coopers & Lybrand, an accounting and consulting firm.In Maryland, venture capitalists invested $59 million in 14 companies, up from $47 million and 12 companies during the first half of 1996.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | December 22, 1999
At a time when some technology companies are making big money by going public and selling stock in themselves, one of Maryland's most closely watched start-ups is holding off on its initial public offering -- for now.Corvis Corp., based in Columbia, is gearing up to make and sell equipment that allows telecommunications networks to carry more Internet messages and phone calls.Corvis founder David R. Huber had done similar work at his previous company, Ciena Corp. of Linthicum. However, Huber left Ciena shortly after that company's highly successful 1997 initial public offering in order to pursue his own ideas for the technology.
BUSINESS
By JAY HANCOCK | January 16, 2005
A YEAR ago, Gov. Robert L. Ehrlich Jr.'s "Pappas Commission" delivered recommendations it described as "critical to Maryland's success" and needed "to be implemented in the near term in order to have maximum impact on the growth of the technology business in Maryland." But some of its key proposals remain unadopted, including expanding state research and development tax credits, appointing a full-time state technology czar and substantially boosting state pension investments in technology companies.
BUSINESS
By Jay Hancock | February 28, 2011
It may or may not pay off. That's the beauty and the problem of investing in start-up companies. But Gov. Martin O'Malley's plan to add state money to Maryland's venture capital pool seems well-designed and well-timed for a number of reasons. First, in the middle of what's still a bad economic slump, the $100 million Invest Maryland plan stands a better chance of boosting employment than, say, last year's tax credit for hiring unemployed Marylanders that fell far short of expectations.
BUSINESS
January 17, 2014
Venture capital funds flooded into companies last year in the Baltimore-Washington corridor, more than doubling to $1.54 billion, according to a new report to be released Friday. The region ranked fifth among those tracked - behind California's Silicon Valley, New England, and the New York City and Los Angeles metro areas - by the MoneyTree Report prepared by PriceWaterhouseCoopers LLP and the National Venture Capital Association. Nationwide, venture capital investing grew 7.5 percent to $29.4 billion in 2013, according to the report, which uses data from Thomson Reuters.
NEWS
January 24, 2011
The idea behind Gov. Martin O'Malley's plan to promote high-tech startup companies in Maryland is absolutely the right one. Maryland's greatest economic development potential doesn't lie in attracting big companies to move here, or in resurrecting huge industrial facilities like Sparrows Point, but in leveraging its assets in medical and scientific research to spark hundreds or thousands of new businesses with the potential to compete globally....
BUSINESS
January 17, 2014
Venture capital funds flooded into companies last year in the Baltimore-Washington corridor, more than doubling to $1.54 billion, according to a new report to be released Friday. The region ranked fifth among those tracked - behind California's Silicon Valley, New England, and the New York City and Los Angeles metro areas - by the MoneyTree Report prepared by PriceWaterhouseCoopers LLP and the National Venture Capital Association. Nationwide, venture capital investing grew 7.5 percent to $29.4 billion in 2013, according to the report, which uses data from Thomson Reuters.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | December 18, 2013
Curran W. "Cub" Harvey Jr., former president of T. Rowe Price Associates Inc. who later was a partner in New Enterprise Associates, a Baltimore venture capital firm, died Sunday of pneumonia at Naples Community Hospital in Naples, Fla. He was 84. "Cub was known as a crack analyst and was someone who loved studying emerging companies. That's how he was known through the years," said James A.C. Kennedy, CEO and president of T. Rowe Price Associates Inc., who began working with Mr. Harvey in 1978.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 18, 2013
Venture capitalists in the third quarter invested $445.7 million in 53 projects in the region that includes Maryland, Virginia and Washington, more than double the amount for the quarter last year, according to PricewaterhouseCoopers' MoneyTree Report released Friday. It also is the first time in a few years that the region's third quarter was stronger than the second quarter, which tends to be most robust, said Brad Phillips, director of emerging company services at PricewaterhouseCoopers.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 19, 2013
Venture capitalists invested $318 million in young Maryland companies from April through June, an increase of 115 percent from the first quarter, according to a report released Friday by PricewaterhouseCoopers. About half of that financing, or $150 million, went to Precision for Medicine Inc., a Chevy Chase company that provides services for medical drug discovery, the report said. That was the highest amount any business in the country raised in the quarter and was matched only by a New York e-commerce website.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 21, 2013
Uncertainty over the economy contributed to a nearly 27 percent drop last year in venture capital funding for young companies in Maryland, Washington and Northern Virginia, the first decrease since 2009, according to a new report from PricewaterhouseCoopers. Last year, venture capitalists invested $725.1 million in 164 deals in the area, down from $987.5 million for 163 deals in 2011. On a percentage basis, the decrease in dollars was more than twice the national average for last year, when funding dropped 10 percent to $26.5 billion invested in nearly 3,700 deals, PricewaterhouseCoopers reported.
BUSINESS
Gus G. Sentementes | October 22, 2012
The PriceWaterhouseCoopers quarterly MoneyTree report is out, and it shows who scored nice chunks of capital from investors in the Baltimore area. The report is a collaboration with the National Venture Capital Association, and uses data from Thomson Reuters. Here are the Baltimore companies -- expect to see them in the news more and more:   NameCityIndustry SectorMoneyTree StageAmountShort Business DescriptionList of All Investors in the Sequence rel-MD, Inc. Baltimore Biotech-Human Early Stage 46000 rel-MD, Inc. develops small molecule drugsfor the treatment of cancers.
BUSINESS
By David Conn | February 6, 1991
Triad Investors Corp., the venture-capital company started by a branch of the Johns Hopkins University, announced yesterday that it had secured $5.25 million from investors to develop commercially viable technology -- primarily from the university -- and get it into the marketplace.The investors include a British-based venture-capital group; the university and Johns Hopkins Health System; and two private Baltimore companies, Constellation Holdings Inc., a Baltimore Gas and Electric Co. subsidiary, and Whiting-Turner Contracting Co.None of the parties would say exactly how much money each invested in Triad, but the Hopkins institutions together will own a majority of the stock.
NEWS
BY A SUN STAFF WRITER | June 11, 2003
The former director of a regional venture capital firm was indicted yesterday on federal mail fraud charges that alleged she used more than $400,000 in company funds to pay for personal expenses. Mary Ann Gray, 48, of Baltimore was charged in an 11-count indictment in U.S. District Court in Baltimore. The indictment charged that Gray, as executive director of Timonium-based Mid-Atlantic Venture Association Inc., used a signature stamp of MAVA's board president to approve checks of more than $1,000 and then falsely told corporate accountants the money went to legitimate business expenses.
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