Liz Wainger (MAVA)
301.340.6831 or 301.254.1190
liz@lizwaingercommunications.com
Mid-Atlantic Region Boasts Fertile Ground for Entrepreneurs to Present their Companies to Investors at Capital Connection 2002, May 28 and 29
(Timonium, MD April 9, 2002...) Private equity investors representing more than $10 billion of capital will assess the Mid-Atlantic region's most fundable companies at The Mid-Atlantic Venture Association's (MAVA) annual venture fair, Capital Connection 2002 - Where New Technology Meets Smart Money. The fair, to be held May 28 and 29 at the J. W. Marriott Hotel in Washington, DC expects to draw more than 800 attendees including local and national private equity firms, entrepreneurs and professional service firms.
Capital Connection 2002 will showcase 50 companies pre-screened by venture capitalists and coached through a formal mentoring process. The selected companies represent the premier entrepreneurial investment opportunities in the Mid-Atlantic region, which MAVA defines as Maryland, Virginia and District of Columbia.
"The companies selected to present are some of the best we've seen in years," said Capital Connection 2002 Co-Chair Larry Macks, who is General Partner at Boulder Ventures in Baltimore. "One of the benefits of the recent downturn is that it has served as a filter. The clutter of unqualified people trying to start ill-conceived companies has disappeared. The vast majority of new companies have serious management talent with extremely relevant business and technical expertise."
Since 1996, presenting companies at MAVA fairs have raised more than $2.2 billion. Each year, approximately 30 percent of the presenting companies receive funding within six months of the fair. Companies that have presented at MAVA fairs in the past include webMethods, Ciena, and Quantum Computers, which later became America Online.
After a challenging 2001, when investing was directed largely toward existing portfolio companies, recent MAVA surveys indicate that investors are now ready to look at new deals. In a survey released March 6, 68% of VCs said they expect to do more deals in 2002 than in 2001. Nearly 40% of VC's said that of the deals they do in 2002, 80% would be new deals and 20% would be existing portfolio; another 16% said that 60% of their 2002 deals would be new.
"The Mid-Atlantic region continues to be fertile ground for emerging technology companies and Capital Connection is the best place to seem them. Historically, nearly a third of the region's quality deal flow in any given year presents at this fair," Macks said.
MAVA represents the collective interests and leverages the success of venture capitalists investing in DC, Maryland and Virginia. Founded in 1986, MAVA provides a wide range of programs, information and forums designed to facilitate quality deal flow, encourage collaboration, and foster solid relationships with key service providers. Membership includes 375 venture capital professionals at 126 firms with over $10 billion in capital under management. In addition, over 265 key service providers from the legal, financial, executive search and consulting fields are also MAVA members.
