Maryland Venture Fund, established in 1994 and based in Columbia, Maryland, is an early-stage venture capital firm with a focus on nurturing innovative companies within the state. With a capital base of $110 million, the Fund engages in both direct investments in technology and life sciences, as well as indirect investments in venture capital funds. It typically invests between $0.1 million and $1 million in companies that generate revenues up to $1 million, primarily targeting businesses with fewer than 50 employees that have been operational for no more than five years. The Fund specializes in sectors such as healthcare technology, cybersecurity, and information technology. Investments are structured as equity or convertible debt, and the firm seeks to support companies certified as qualified Maryland cybersecurity entities by the state’s Department of Business and Economic Development.

The University System of Maryland Momentum Fund, established in 2016 and based in Baltimore, Maryland, operates as a venture capital firm dedicated to investing in early-stage startups affiliated with the University System of Maryland. With a commitment of $10 million from USM, the fund aims to promote entrepreneurship, attract external investments, and stimulate economic development and technology commercialization within the region. The fund is sector agnostic, focusing on a diverse range of industries while prioritizing startups that are headquartered in Maryland and have connections to USM's member institutions. By leveraging the resources of its affiliated universities, the Momentum Fund seeks to enhance the entrepreneurial ecosystem and support the growth of innovative companies in the state.

Blu Venture Investors is a venture capital and private equity firm focusing on seed and early-stage technology investments and related special situations such as acquisitions and spin-offs. It backs software, SaaS, cybersecurity, Internet of Things, digital media, and technology companies across B2B and B2C models, with interest in materials, chemical and biological sciences, and solutions for defense, homeland security, and intelligence communities. The firm targets the mid-Atlantic region—Maryland, Virginia, Washington, D.C., and North Carolina—and typically invests between $50,000 and $3 million per round, often syndicating larger rounds with partners. It aims to take majority stakes and provides board seats, advisory support, and, when needed, C-level executives. Founded in 2010 and headquartered in Vienna, Virginia, Blu Venture Investors combines capital with active mentorship from experienced operators to help early-stage companies scale.

Established in 2012 by Christopher College and Stuart Sutley, TCP Venture Capital is a venture capital firm headquartered in Hampstead, Maryland. It focuses on investing in early-stage technology companies based in Baltimore.

New Enterprise Associates is a venture capital firm founded in 1977 and based in Menlo Park, California, with offices in the United States, India and China. It makes investments across technology and healthcare startups at multiple stages, from seed to growth, including software, cloud, data, internet services, fintech, AI, e-commerce, and enterprise technology, as well as healthcare information technology, life sciences, medical devices, and biopharma. It also considers energy technology and infrastructure opportunities, such as solar, batteries and smart grids. The firm pursues a global approach, with activity in the United States, Asia and other regions, and supports companies through rounds of financing ranging from small to sizable investments as they scale. NEA focuses on building portfolios in software, IT services, consumer technology, and healthcare technology, backing ambitious entrepreneurs across sectors and geographies.

Founded in 2014, Gaingels is a venture investment syndicate dedicated to supporting the LGBT+ community. It invests globally in companies led by LGBT+ founders or C-suite executives at all stages of growth, focusing on inclusivity and positive social change.

Camden Partners is a United States-based investment firm founded in 1995 and based in the Baltimore, Maryland area. It acts as an asset manager providing growth and private equity capital to lower-middle-market companies, primarily in technology, software, education, healthcare, and business services. The firm pursues early to growth-stage investments across North America and Western Europe, applying sector knowledge and active involvement to help portfolio companies scale. Camden Partners emphasizes disciplined, fundamentals-driven approach and seeks long-term partnerships with management teams and other investors, including board-level engagement where appropriate. The company operates as a registered investment adviser and focuses on building lasting value through strategic capital and advisory support.

DataTribe is a startup foundry based in Fulton, Maryland, established in 2015. The company focuses on investing in and co-building innovative startups that aim to make significant advancements in cybersecurity and data science. Founded by experienced investors and veterans from the U.S. intelligence community, DataTribe leverages its extensive network and professional expertise to provide companies with essential resources, including capital and in-kind services. By fostering collaboration and offering strategic support, DataTribe strives to give its startups a competitive edge in the rapidly evolving tech landscape.

Grotech Ventures is a Maryland-based venture capital firm founded in 1984 that focuses on early-stage and growth technology companies across the United States. The firm targets sectors including technology, cybersecurity, fintech, supply chain and logistics, software and vertical software, and TMT. It typically makes initial investments in the low to mid single digits per company and reserves capital for follow-on rounds to support growth through the company’s early and expansion stages. Grotech emphasizes a personal, long-term partnership with entrepreneurs, aligning its support with the founder’s definition of success. Beyond capital, it seeks to contribute through its experience, network, and hands-on involvement to help companies mature and scale.

Intersouth Partners is a Durham, North Carolina–based venture capital firm founded in 1985 that concentrates on seed and early-stage investments in technology and life sciences. It seeks to be a lead or co-lead investor, often participating in the first institutional round with initial investments in the range of several hundred thousand to several million dollars and pursuing a total investment across rounds around ten to twelve million dollars. The firm emphasizes equity investments and typically seeks a board seat on portfolio companies, aiming to support growth in sectors such as software, semiconductors, communications, digital media, clean technology, security, medical devices, biopharmaceuticals, agricultural biotechnology, and biomaterials. Its geographic focus centers on the Southeast, including the Research Triangle area, Washington, DC, Atlanta, and the broader corridor from Baltimore to Florida. The firm is known for its active engagement and long-standing experience in building early-stage technology and life sciences companies.

Alumni Ventures Group is a venture capital firm based in Manchester, New Hampshire, with offices across North America. It provides access to venture investing for individual accredited investors, particularly alumni networks, by offering diversified portfolios of venture opportunities and allowing members to invest alongside fellow alumni in ventures led by peers. The firm backs early-stage and later-stage opportunities across technology, consumer, healthcare, financial services, and other sectors, with a sector- and geography-agnostic approach. It typically invests between $10,000 and $3 million per deal and emphasizes the involvement of alumni connections and an institutional lead investor in opportunities. Alumni Ventures also offers focused funds to broaden participation, enabling accredited investors to access venture portfolios diversified by type, sector, stage, and geography. The model aims to democratize access to venture capital while maintaining rigorous selection standards through alumni networks.

Greenspring Associates, established in 2000, is a global investment firm headquartered in the United States. It specializes in fund of funds management, offering commingled funds and customized partnership solutions to a diverse range of international clients. The firm invests in established and emerging venture capital fund managers, early and growth-stage venture-backed companies, and secondary venture capital fund and direct investments. With over $7.3 billion in committed capital, Greenspring's dedicated team combines extensive expertise in both venture fund and direct investments.

Camber Creek is a venture capital investment firm focused on technology-related opportunities in real estate. Headquartered in Rockville with an office in New York, the firm concentrates on investing in real estate technology companies across the United States. It leverages expertise across real estate sectors such as construction, property management, development, and leasing, and combines investing, operating, and technology know-how with the assets of its partners, investors, and advisors to support the growth and success of its portfolio companies.

Founded in 1989, OrbiMed is a New York-based healthcare-dedicated investment firm managing approximately $5 billion in assets. It invests across the spectrum of healthcare companies, from private start-ups to large multinational corporations, focusing on biopharmaceuticals, life sciences, digital health, medical devices, and diagnostics sectors globally.

Founded in 1983, Kinetic Ventures is a venture capital firm specializing in early-stage investments in communications, information technology, and power/clean technology sectors. Based primarily in the United States, with additional offices in Canada and internationally, the firm invests between $2 million to $10 million per company, typically exiting through IPO or acquisition.

Conscious Venture Lab is an early-stage business accelerator based in Baltimore, Maryland, established in 2013. The firm is dedicated to nurturing purpose-driven companies that aim to leverage capitalism for a more just, joyful, and equitable society. It focuses on various sectors, including cybersecurity, biotechnology, technology infrastructure, consumer products, and gaming, among others. Conscious Venture Lab typically invests between $25,000 and $50,000 for equity stakes of 5 to 10 percent. The accelerator runs a six-month program designed for teams with a minimum of three members. The initiative honors the legacy of David B. Wolfe and incorporates insights from leading thinkers in Conscious Capitalism, fostering the development of "Companies that Matter."

Founded in 1997, Novak Biddle Venture Partners is a private equity and venture capital firm based in Bethesda, Maryland. It specializes in seed to early-stage investments in information technology companies, with a focus on the Mid-Atlantic region of the United States.

Moonshots Capital is a venture capital firm based in Austin, Texas. It makes seed-stage investments in technology startups led by founders who are building products that re-imagine work and personal life in large and growing markets. The firm uses a disciplined investment process to identify companies with moonshot potential. It focuses on dual-use technology, fintech, consumer Internet, artificial intelligence, and cybersecurity. Moonshots Capital is a registered investment adviser and supports portfolio companies through early growth to scale.

Ben Franklin Technology Partners of Southeastern Pennsylvania is a technology-focused capital provider based in Philadelphia, founded in 1982 to advance the region's technology community. The organization funds and supports technology companies across Pennsylvania, especially in information technology, health, and physical sciences, investing substantial capital in early-stage and established ventures. It has invested over 170 million dollars in more than 1,750 regional technology companies and has launched university-industry partnerships to translate scientific discoveries into commercial products, while seeding regional initiatives that strengthen the entrepreneurial ecosystem and create jobs.

NextGen Venture Partners is a venture capital firm founded in 2011 that focuses on seed and early-stage investments in technology companies across the United States. The firm operates through a broad network of venture partners and targets category-defining and industry-defining technology opportunities in a sector-agnostic approach. It typically invests in seed and early rounds, with check sizes described as ranging from hundreds of thousands to a couple million dollars, and may participate in larger rounds as needed. Headquartered in Baltimore, Maryland, with additional offices in Boston and Arlington, the firm emphasizes building partnerships with founders and accelerating growth through its expansive partner network. NextGen seeks to back ambitious companies using collaborative funding structures and strategic support to help scale globally.

TDF Ventures LLC is a venture capital firm founded in 2004 and headquartered in Chevy Chase, Maryland, with additional offices in Washington, D.C., and Silicon Valley. The firm specializes in early-stage investments, primarily targeting seed stage and Series A companies across various sectors, including infrastructure, software, services, cybersecurity, artificial intelligence, and e-commerce. TDF Ventures typically invests between $0.5 million and $5 million per transaction, focusing on companies that enhance business processes, improve broadband access, or innovate in technology and communication. The firm seeks to engage actively with its portfolio companies and often considers co-investment opportunities. TDF Ventures is committed to supporting startups that address critical industry challenges and leverage emerging technologies to create value in enterprise markets.

301 Ventures is a student-run venture fund based in College Park, Maryland, focused on supporting entrepreneurs affiliated with the University of Maryland and the greater Washington, D.C. area. Established in 2015, the fund manages $500,000 and specializes in making pre-seed investments in companies founded by University of Maryland students and alumni. Its primary aim is to accelerate product development and prepare these startups for future funding opportunities.

Lockheed Martin Ventures, established in 2014, is a venture capital arm of Lockheed Martin Corporation. It focuses on investing in early-stage companies specializing in advanced technologies such as autonomous systems, cybersecurity, space technologies, and artificial intelligence.

Highland Capital Partners is a Massachusetts-headquartered global venture capital firm that invests in seed, early and growth-stage consumer and enterprise technology companies. It maintains offices in Boston, Silicon Valley and Shanghai and has raised substantial capital and backed more than 225 companies across consumer and enterprise technology, supporting entrepreneurs with a focus on building lasting businesses. The firm also runs mentorship initiatives such as Summer@Highland. Its European presence, Highland Europe, founded in 2012, targets rapidly growing internet, mobile and software companies in Europe and works closely with the firm to pursue primary investments as well as acquisition finance or lead secondary transactions.

Sagamore Ventures is an early-stage investment firm located in Baltimore, Maryland, founded in 2014. As a family office, it focuses on investing in various sectors, including real estate, hospitality, and food and beverages. The firm aims to support innovative businesses and foster growth within the Baltimore region. Through its strategic investments, Sagamore Ventures seeks to contribute to the local economy while identifying opportunities that align with its vision for long-term success.

Hibiscus Bioventures is a biotechnology startup studio based in Rockville, Maryland. Founded in 2019, it builds and invests in companies operating in the biotechnology and pharmaceutical sectors.

Northpond Ventures is a science-driven venture capital firm based in Bethesda, Maryland, with additional offices in San Francisco, California, and Cambridge, Massachusetts. Founded in 2018, the firm concentrates its investments in life sciences, diagnostics, therapeutics, digital health, and related technologies, including AI and machine learning applications in biotech and medical fields, as well as environmental and other emerging technologies. It seeks to back early- and growth-stage companies that advance biomedical research, diagnostics, medical devices, and technology-enabled health solutions. The firm operates as a registered investment adviser and emphasizes building a better tomorrow through science-driven investing. It focuses on strategy, value creation, and supporting companies at the intersection of life sciences and technology, aiming to accelerate innovations that improve health outcomes.

Red Abbey Venture Partners is a life sciences venture capital firm founded in 2004 and based in Lutherville-Timonium, Maryland. It invests across biotechnology, specialty pharmaceuticals, medical devices, diagnostics, and research tools, targeting opportunities in North America and Europe. The firm supports early-stage and growth-stage companies developing next-generation therapies, devices, and enabling tools, with the aim of generating superior risk-adjusted returns.

Grit Capital Partners is a venture capital firm founded in 2015 and based in New York, with an additional office in Hunt Valley, Maryland. The firm specializes in early-stage investments, focusing on high-potential entrepreneurs who aim to disrupt industries through technology and data. Grit Capital Partners typically invests its own capital and prioritizes companies with at least one technical co-founder. It seeks opportunities primarily in sectors such as financial services, commerce, media, and healthcare information technology. The firm leverages its extensive network of entrepreneurs, executives, and technology veterans to support its portfolio companies and enhance their chances of success.

Eli Lilly and Company is a global pharmaceutical leader engaged in the discovery, development, manufacture, and sale of medicines. It operates facilities in the United States, Puerto Rico, and many other countries, with products sold in about 135 countries. The company focuses on therapies in neuroscience, cardiometabolic, cancer, and immunology, and also conducts research in animal health and animal agriculture. Lilly supports patient outcomes and education through a philanthropic foundation that funds programs in underserved communities, including STEM education in Indianapolis.

MedImmune, established in 1988, is a global biopharmaceutical company and the biologics R&D arm of AstraZeneca. It specializes in developing medicines for unmet medical needs, focusing on therapeutic areas such as respiratory, inflammation, autoimmunity, cardiovascular and metabolic disease, oncology, neuroscience, and infection and vaccines. MedImmune Ventures, its venture capital arm founded in 2002, invests in early to late-stage, public and private biotechnology companies globally, with an average investment of $7 million. The firm seeks to invest in companies developing small and large molecule therapeutics, vaccines, pharmaceutical technologies, and platforms, as well as medical devices, diagnostics, and healthcare information technology companies, supporting the discovery, development, and commercialization of pharmaceutical products.

A-Level Capital, LLC is a venture capital firm established in 2015 and located in Baltimore, Maryland. The firm is dedicated to investing in start-up companies founded by students and young alumni of Johns Hopkins University. A-Level Capital primarily focuses on sectors such as medical, technology, and biotechnology, aiming to support innovative ventures emerging from the university community. The firm provides funding opportunities to help these start-ups grow and succeed in their respective markets.

JMI Equity is a Baltimore-based growth equity and private equity firm founded in 1992 that concentrates on software and technology-enabled sectors in North America. It partners with exceptional management teams to fund growth and expansion, helping portfolio companies scale their software, cloud, and TMT businesses into industry leaders. The firm focuses on North American software companies and related tech-enabled services, providing flexible capital and strategic support to accelerate product development, go-to-market execution, and customer growth. Over its history, JMI has raised billions of dollars in committed capital and completed numerous exits, reflecting a track record of building enduring software platform companies.

Gula Tech Adventures, Inc. is a venture capital firm based in Ellicott City, Maryland, that specializes in investing in early-stage start-ups within the cybersecurity sector. Founded in 2017, the firm focuses on seed and Series A investments, particularly in areas such as cyber hygiene, threat management, security engineering, and national security technology. The founders, Ron and Cyndi Gula, are veterans of the cybersecurity industry, having previously co-founded Tenable Network Security. They leverage their extensive experience to support the next generation of cybersecurity start-ups by providing funding, assisting with product development, and guiding capital raises. Gula Tech Adventures aims to foster innovation and growth in the cybersecurity landscape.

QuestMark Partners is a Baltimore-based expansion-stage venture capital firm that provides growth capital to exceptional management teams across the United States. Founded in 1998, the firm pursues venture and secondary investments in consumer, healthcare, and related technology sectors, including enterprise software, cloud software, mobile software, tech-enabled business services, security, financial technology, consumer internet, and healthcare technology. With more than $900 million in assets under management, QuestMark seeks differentiated, category-creating companies with strong commercial traction and the potential for long-term standalone leadership.

Healthworx is a corporate venture arm based in Baltimore, Maryland, that focuses on enhancing healthcare quality, accessibility, and affordability through innovation and investment. Established in 2017, it operates as part of CareFirst of Maryland, Inc., and is dedicated to supporting and creating companies that aim to transform the healthcare landscape. Healthworx envisions a healthier future for all individuals by fostering advancements in the healthcare sector.

Squadra Ventures is an early-stage venture capital fund based in Baltimore, Maryland, founded in 2019. The firm focuses on investing in early-stage companies that operate within the cyber and national security sectors. Through its targeted investment strategy, Squadra Ventures aims to support innovative companies addressing critical challenges in these industries.

Inflection Point Ventures is a venture capital firm that concentrates on early-stage technology companies. Based in Newark, Delaware, with additional offices in Wellesley, Massachusetts, and Bethesda, Maryland, it targets pre-revenue and early-revenue firms in telecommunications, information technology, and electronic commerce that show potential for rapid growth and market leadership. The firm seeks opportunities capable of creating an inflection point in demand by delivering high-value products or services. It typically participates in rounds of roughly $500,000 to $2 million and often leads or co-leads investments, taking a seat on the portfolio company's board. By focusing on technology-driven businesses with scalable models, Inflection Point Ventures aims to support companies as they scale, accelerate revenue, and capture market share in competitive markets.

jVen Capital is a venture capital firm that specializes in growth equity investments in life sciences, with emphasis on personalized medicine, medical devices, and digital health. Founded in 2007, it backs companies that aim to advance healthcare through innovative technologies.

HighCape Partners Management, L.P. is a venture capital firm specializing in growth equity investments. The firm seeks to invest in commercial stage life science companies that are in the early revenue or product launch stage and have a superior product that delivers value to the healthcare system and has a clear path to commercialization. HighCape Partners Management, L.P. is based in Baltimore, Maryland with an additional office in New York, New York.

Hard Yaka is an investment firm based in Crystal Bay, Nevada, founded in 2010. It pursues technology investments across private equity and venture capital, including buyouts and distressed opportunities, and it frequently seeks majority stakes. The firm focuses on digital transformation infrastructure, including portable identity, payments, marketplaces, and regtech, and also backs early-stage opportunities in exchange space startups, targeting verticals within exchange markets as well as horizontals such as messaging and payments across exchange sectors.

Columbia Partners Private Capital is an investment management and advisory firm and institutional investment team based in Bethesda, Maryland. Established in 2004, it sponsors private equity funds-of-funds and makes direct investments in privately held growth companies through separately managed accounts. The firm focuses on private market opportunities, including private equity, venture, and mezzanine debt, with over $440 million in assets under management. It serves institutional clients through a disciplined investment process aimed at delivering risk-adjusted returns.

Alexandria Venture Investments is the strategic venture capital arm of Alexandria Real Estate Equities. Based in Pasadena, California, it provides long-term strategic capital to innovative life sciences and technology companies developing breakthrough therapies, diagnostics, and platforms across biopharma, digital health, agrifoodtech, agtech, and related healthcare fields. Established in 1996, the firm invests across seed, early, and growth stages and leverages its deep industry knowledge, extensive investor networks, and scientific advisory resources to support portfolio companies. The unit also pursues opportunities at the intersection of real estate, life sciences, and technology, reflecting its parent company's sector focus and integrated ecosystem approach. It aims to help entities advance human health by partnering with founders to scale transformative technologies.

Syncom Venture Partners is a venture capital firm founded in 1977, based in Maryland, that provides early- and mid-stage investments in the media and communications sectors, including digital media, mobile technology, and web-based services.

GoodPaper Ventures is a venture capital firm based in Bethesda, Maryland, founded in 2021. The company specializes in providing private equity and investment management services, focusing on identifying and supporting innovative startups and growth-stage companies. By leveraging its expertise and resources, GoodPaper Ventures aims to foster entrepreneurship and drive economic growth through strategic investments in promising ventures.

The Flying Object is a venture capital firm established in 2014 and located in Rockville, Maryland. It specializes in the commercial drone industry and aims to invest in the space and air technology sector. With a global outlook, The Flying Object focuses on identifying and supporting innovative companies within this rapidly evolving market, contributing to advancements in drone technology and its applications.

American Capital, Ltd. is a business development company based in Bethesda, Maryland, that specializes in providing a broad range of investment solutions, including management and employee buyouts, subordinated debt, leveraged finance, and growth capital investments. The firm focuses on middle-market and early venture investments, targeting various sectors such as manufacturing, healthcare, energy, technology, and consumer products. American Capital engages in special situations, investing in distressed companies and operational turnarounds, and also considers add-on acquisitions for its existing portfolio. The company invests globally, with a particular emphasis on high-growth and developed markets, and typically targets investments ranging from $5 million to $750 million per transaction. Founded in 1986, American Capital operates through various offices in the United States, Europe, Africa, and Asia, and has a diverse portfolio that encompasses various industry sectors. The company aims to provide one-stop financing solutions that include senior debt, subordinated debt, and equity to meet the needs of its investment opportunities.

Established in 2020, CoFactor Ventures is a venture capital firm headquartered in Baltimore, Maryland. It focuses on investing in tech startups at various stages of growth, from seed to later-stage companies.

Growth Street Partners is a San Francisco-based private equity and venture capital firm that provides early-stage and growth capital to technology-enabled companies, with a focus on software-as-a-service and related SaaS-enabled services. Founded in 2016, the firm invests across the United States and typically targets investments in the range of $3 million to $10 million, often in companies with annual revenues between $1 million and $5 million. The firm emphasizes scalable software and technology-enabled services opportunities and supports growth and expansion initiatives across the U.S.

Axcel Partners is a private equity and venture capital firm based in Stevenson, Maryland. The firm provides capital to companies across software, healthcare, information technology, and retail sectors.