If you raised seed capital from a DC VC last quarter you are part of an exclusive club. Only 3 firms raised seed capital from DC firms last quarter from VCs headquartered in our region and 2 of those companies got money from Virginia’s CIT. CIT is a state-sponsored fund chartered to make early stage investments and doesn’t represent the standard risk profile of a traditional VC.
John Backus and the New Atlantic Venture team were the only greed-based, non-state-sponsored fund laying down startup seed-stage bets last quarter with two investments of $3.2M each in American Honors College and Quad Learning Inc.