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.
The number of deals in Baltimore-D.C. metroplex increased to 171 in 2013 from 166 the year before.
The top 10 deals of the year reads like a who’s who of hot technology with investments in Uber and Pinterest, but also includes a $150 million early stage investment in Precision for Medicine Inc., a Chevy Chase firm working to develop and commercialize specialized medicines.
In the fourth quarter, the region saw $313 million invested in 54 deals, up from just under $117 million last year.
The largest local deal placed $16 million with CSA Medical Inc., a Timonium company that’s developing a spray to freeze unwanted body tissue, easing its removal. Annapolis-based Astrum Solar received nearly $7.5 million to expand its residential solar electric rental business. And the Baltimore-based home furnishings and décor retailer Bambeco got a nearly $4.3 million to fund its continued expansion.
![By MICHAEL RUBINKAM (Associated Press) The Sheetz convenience store chain has been hit with a lawsuit by federal officials who allege the company discriminated against minority job applicants. Sheetz Inc., which operates more than 700 stores in six states, discriminated against Black, Native American and multiracial job seekers by automatically weeding out applicants whom the […]](https://www.baltimoresun.com/wp-content/uploads/2024/04/Election_2024_Biden_09738.jpg?w=525 "By MICHAEL RUBINKAM (Associated Press) The Sheetz convenience store chain has been hit with a lawsuit by federal officials who allege the company discriminated against minority job applicants. Sheetz Inc., which operates more than 700 stores in six states, discriminated against Black, Native American and multiracial job seekers by automatically weeding out applicants whom the […]")
