Summer Savings! Get unlimited digital access for 13 weeks for $13.
Business
Business

T. Rowe Price invests in Redfin

Portfolios managed by Baltimore-based T. Rowe Price participated in a $50 million mezzanine investment in Redfin, an online real estate brokerage.

The money brings the venture capital funds raised by the 11-year-old firm to almost $96 million. It will go toward new technology, Redfin announced Thursday. Redfin operates in 22 markets including Baltimore.

"Redfin is reinventing the process of buying or selling a home," said Henry Ellenbogen, portfolio manager for T. Rowe Price's New Horizons Fund. "We invest in companies that have the opportunity to grow. We believe Redfin has the real-world service, management team and vision to be much larger."

Other firms involved in the deal included Tiger Global Management LLC, and previous Redfin investors Greylock Partners, Globespan Capital Partners, DFJ Venture Capital and The Hillman Company.

Copyright © 2015, The Baltimore Sun
Related Content
  • T. Rowe Price seeks SEC approval on ETFs

    T. Rowe Price seeks SEC approval on ETFs

    Baltimore-based money manager wants disclosure exemption

  • Baltimore People on the Move archive

    Baltimore People on the Move archive

    Readers submit photos and information on employees who have recently been promoted, hired or honored at area businesses. Select photos will be published in the Maryland Business section of Tuesday editions of The Baltimore Sun. Caption size is limited and only photos are accepted in this feature....

  • Health Professionals on the Move archive

    Health Professionals on the Move archive

    Readers submit photos and information on medical professionals who have recently been promoted, hired or honored. Select photos will be published in the Health and Medicine section of Sunday's edition of The Baltimore Sun. Caption size is limited and only photos are accepted in this feature. Submit...

  • Jobs in Health

    Jobs in Health

    Learn about the wide variety of careers in the health-care field in the words of local professionals. Also see the latest hirings and promotions at Health Professionals on the Move.

  • Rob Manfred says MASN dispute likely to continue after court ruling

    Rob Manfred says MASN dispute likely to continue after court ruling

    Baseball commissioner Rob Manfred said Thursday that the television rights dispute between the Orioles and Washington Nationals won't be settled until after a judge hands down a decision in the lawsuit filed in New York by the Mid-Atlantic Sports Network.

  • CareFirst finds savings in 'patient-centered' health care model

    CareFirst finds savings in 'patient-centered' health care model

    A program launched in 2011 by the state's largest health insurer to better coordinate patient care has slowed its overall pace of spending, avoiding millions in costs for the company and those it insures, CareFirst BlueCross BlueShield reported Thursday.

Comments
Loading
82°