One of the best self-promoters at last week's Mid-Atlantic Venture Fair at the Sheraton Premiere in Tysons Corner was Bob Nelson, president of CrossMedia, Reston, Va. Nelson handed out CrossMedia stickers of support to anyone who would wear them. "We're treating this like a political campaign," said Nelson, who also sent flyers to registered attendees the week before, complete with "computer technology" stamps.
The conference, an annual fair designed to match up companies and funding sources, attracted about 1,000 people, 100 of whom presented their businesses in eight-minute segments to potential venture capitalists. Most of the presentees seemed to have just had a VC hit and were using that success to convince the money people to invest again. The hallway outside of the ballroom was the place to be for companies looking for money or VCs wanting to spend some.
Red Herring magazine's overlapping venture capital conference in Boston Nov. 10-11 didn't have nearly so much deal-making energy, said several people who were venture fair-hopping.
Mark Warner, managing director of Columbia Capital, said at the Mid-Atlantic Venture Fair that he expects to have another four investments in companies in the Washington region by the first quarter of 1998.
Doug Humphrey, founder and former chief technical officer of Internet service provider Digex in Beltsville, Md., has launched a technology incubator called Phase 1 in Laurel, Md.
Under one roof are the following: Digital Addiction (an online gaming company in which Humphrey has invested seed capital); Loligo Inc. (a software company); SkyCache (a satellite data delivery company); and The Sync (an Internet broadcast company).
Money Toward Work Force Issue:
The Northern Virginia Regional Partnership in Herndon, Va., has received $2.4 million from the state to support employee recruitment and training programs.
From Fund to Fund:
Area venture capitalist Gary Golding has moved to Edison Venture Fund IV in Princeton, N.J., from Vienna, Va.-based CEO Venture Fund.
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