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Two Venture Capital Firms Tapped to Receive InvestMaryland Funds

Governor Martin O’Malley and Peter Greenleaf, chairman of the Maryland Venture Fund Authority (MVFA), today announced that New Atlantic Ventures and Kinetic Ventures have been selected to receive funds through the State’s $84 million InvestMaryland program. New Atlantic will receive $8 million and Kinetic will receive $5 million to invest in innovative early-stage businesses in the State. As part of the agreement, the firms, if successful with investments, will return 100 percent of the principal and 80 percent of the profits to the State’s general fund.

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