Private investors and the state poured $19.3 million in venture capital into 11 Baltimore-area firms in the last three months of 2014, according to a report released Friday.
The money went mostly to biotechnology, computer and medical industry companies, according to the MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association, which uses data from Thomson Reuters.
The largest investment was $5.5 million from an undisclosed firm for Baltimore-based Pixelligent Technologies, which creates advanced materials to use in electronics, lighting and other items.
Another undisclosed firm invested $4.1 million in Baltimore-based AgeneBio, a virtual neuroscience pharmaceutical company. Other investments included $2.4 million from the Maryland Department of Business and Economic Development, New Atlantic Ventures and an undisclosed firm to Baltimore-based Bambeco, an online sustainable living retailer, for its expansion.
Maryland tied with North Carolina for the ninth-highest number of venture capital deals in the nation for the last three months of 2014, though many of those involved companies in the Washington suburbs, according to the report. Maryland ranked 14th in the nation for the amount of money invested.