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Bethesda-Based Novak Biddle Increases Investment in Parchment

Novak Biddle Venture Partners, the Bethesda-based venture capital firm, said it has increased its investment in Arizona-based Parchment, a provider of electronic transcript exchange services. The investment was part of the company's new $23.5 million round, led by The Raine Group. GSV Capital, education investor Deborah Quazzo, ICG Group and Salmon River Capital also participated in the company's fourth round.

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