VC activity is starting to pick up in the region. An article in today’s Washington Post by Alejandro Lazo has the headline, “Venture Funding Rises 13.9% in Region.” In essence, it says in the first quarter of 2008 venture capital firms invested about $264.6 million in area companies. IT firms received $68.5 million and software firms $54.2 million.
This should encourage the start-ups in the D.C. area. That community has expressed frustration lately over the ambivalence of VCs to companies located here. To their credit, though, they do not give up and keep pushing. Like anything good, the beginning is hard work but the rewards can be great. It is nice to see they are now starting to gain attention.