The money raised through private investors, venture capitalists and IPOs by companies in Montgomery County, Maryland has…
Money raised through private investors, venture capitalists and IPOs by companies in Montgomery County, Maryland, reached a record $18 billion in the first three quarters of 2021.
That’s $4 billion for all of 2020.
The Montgomery County Economic Development Corporation reports notable funds raised by a total of 76 companies in the county. The companies represent a variety of industries, including life sciences, health technology and media.
Some of that funding has gone to startups working on next-generation computers, and Montgomery County and Maryland are in a position to lead the way in quantum computing.
“The University of Maryland College Park is a national leader in Quantum Computing. We see Quantum Computing revolutionizing not only our commercial sector, but also national security. And the niche we can continue to fill is the intersection of Quantum and Life Sciences,” said Ben Wu, president and CEO of the Montgomery County Economic Development Corporation.
One of the largest privately funded investments in the province this year was Microsoft’s acquisition of Rockville-based ZeniMax, the parent company of video game maker Bethesda Game Studios, for $8.12 billion. Another example was Horizon Therapeutics, a $2.65 billion acquisition of Gaithersburg-based biotechnology company Viela Bio.
The largest IPO in Montgomery County this year was Xometry of Gaitherburg, which supplies AI-enabled manufacturing equipment. It raised $301.5 million in its first public offering on the Nasdaq in June.
“The recent surge in funding is a testament to our local businesses and investors recognizing the abundance of assets and avenues to success in Montgomery County. And it’s another indicator that our economy is resilient and on track for a full recovery,” Wu said.
Below are the major investment increases in public offerings, private financing and IPOs in Montgomery County through the first three quarters of 2021. A comprehensive list is available online.
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