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Venture capital activity in Greater Baltimore off to record start in 2018

• Led by cybersecurity and life sciences, venture capital funding volume through the first 5 months of 2018 has climbed to a record pace. Through the end of May, venture capital funding volume reached $309 million, more than triple the amount of funding seen in 2017 at the same time.

• Five fundraising rounds have topped $20 million so far in 2018, and comprised the bulk of activity. The largest came from IronNet’s $78 million Series B funding round. The Maple Lawn-based cybersecurity firm is developing a technology platform named IronDome, which is designed to help companies share information about cyber threats and attacks. Dracen Pharmaceuticals and Personal Genome Diagnostics raised a combined $115 million, as life sciences drove nearly 41% of overall venture capital fundraising volume.

• Increased fundraising activity may point to additional leasing demand in coming quarters in Baltimore City and Howard County, where life science and cybersecurity firms are clustered.

Source: JLL Research, Crunchbase

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