Top Maryland IT Venture Firms

Maryland is home to hundreds of rapidly growing tech companies. iLearningEngines, Homesnap, and Trinity Technology Partners, Inc. are just a few of those names that have grown over 15%-20% in the last two years. 

This rapid expansion is no coincidence. Maryland’s tech-friendly environment combined with major research institutions and federal agencies, has created a fertile ground for innovation. The state’s focus on IT has attracted a wealth of talent, resources, and investors.

Investors who are always ready to invest in an innovative venture and make it a future unicorn. 

Ready to learn more about these top startup investors in Maryland?

Well, let’s get straight to it!

Top Venture Capital Firms in Maryland Who Invest in The IT Sector

New Enterprise Associates

• Contact: info@nea.com
• Website: NEA: New Enterprise Associates
• Focused Sectors: Cloud Computing, Artificial Intelligence, Cybersecurity, Internet of Things (IoT), Big Data, Fintech, E-commerce, Social Media, Gaming, EdTech, Pharmaceuticals, Medical Devices, Biotechnology, Healthcare IT, Transportation, and Entertainment
• Funding Stages: Early/Growth
• Present in: Baltimore, Bangalore, Beijing, Boston, Menlo Park, California, Mumbai, New York City, San Francisco and Shanghai.
• Notable Investments: Duolingo, Squarespace, Databricks, and Jet.com
• Total Investments: 2,664

NEA is one of the prominent VC funds that invest in startups worldwide. It was founded by Dick Kramlich, Chuck Newhall, and Frank Bonsal in 1977. With over four decades of experience, NEA has invested in more than 2,000 companies and has helped drive innovation across many industries.

With over $24 billion in committed capital, NEA focuses on early- and growth-stage companies with disruptive potential. 

NEA’s team of investors focuses on early- to growth-stage startups with strong leadership teams, innovative solutions, and large addressable markets. The firm typically invests between $1 million and $100 million, depending on the stage and needs of the company. 

Maryland TEDCO

• Contact: info@tedco.md
• Website: Funding | TEDCO (tedcomd.com)
• Focused Sectors: Cyber Security, Enterprise Software, Information Technology, SaaS, Security, Messaging, Mobile, Financial Services, FinTech, Hardware, Software, Mobile Apps, Healthcare, Retail, Robotics, Artificial Intelligence, Big Data, Machine Learning, Marketing, Predictive Analytics, Sales, Sales
• Funding Stages: Early/Seed
• Present in: Maryland
• Notable Investments: Personal Genome Diagnostics, Harpoon Medical, Zalgen Labs, and Gliknik 
• Total Investments: 705

Founded in 1998, TEDCO (Maryland Technology Development Corporation) 

was established by the state of Maryland to support early-stage technology companies and foster economic growth through innovation. 

Unlike traditional venture capital firms, TEDCO acts as a state-backed organization with a mission to support startups through funding, mentorship, and access to resources.

TEDCO’s investment approach is unique; it provides various types of funding programs, including pre-seed, seed, and venture capital. The investment team focuses on innovative tech-driven companies that have a clear commercialization path and strong potential for growth.

The average check size of TEDCO is around $1M. 

JMI Equity

• Contact: info@jmiequity.com
• Website: JMI Equity – About
• Focused Sectors: IT, Software, Edtech, Healthtech, Cleantech, Agtech, Finance, and Security.
• Funding Stages: Growth/Early
• Present in: Baltimore and San Diego
• Notable Investments: Seismic, Chronus, PointClickCare, Huntress, UKG (Ultimate Kronos Group), and OpenSesame
• Total Investments: 410

As one of the most active investors in Maryland, JMI Equity is a growth equity firm with offices in Baltimore, Maryland, and San Diego, California. The network was founded in 1992 by Harry Gruner and Charles Noell. They specialize in investing in high-growth software and tech-enabled services companies. 

Over the last three decades, JMI has invested in more than 400 companies, providing strategic guidance and financial backing to fuel their growth. 

Like any other VC firm, JMI Equity has straightforward investment requirements. The investors only fund startups that have strong recurring revenue streams, scalable products, and experienced management teams. The firm tends to invest in growth-stage companies that have annual revenues between $10 million and $200 million, providing capital investments ranging from $10 million to $200 million. 

ABS Capital Partners

• Contact: info@abscapital.com
• Website: About Us - ABS Capital
• Focused Sectors: Technology, Life Sciences, Women-Led Businesses, Fintech
• Funding Stages: Growth Stage
• Present in: Washington and Baltimore
• Notable Investments: 3Dnamics, aBreak Music, Adaptive Phage Therapeutics
• Total Investments: 223

ABS Capital Partners brings a steady hand and deep expertise to growth-stage companies. Based in Baltimore and Washington, ABS Capital focuses on technology and life sciences, often working with companies that are ready to expand but need a push in terms of resources and expertise. ABS has backed over 200 companies, focusing on businesses with annual revenues between $10 million and $100 million.

Moreover, the network mostly invests in startups who have already scaled their ideas and have annual revenues ranging between $10 million to $100 million. 

ABS Capital Partners invests between $10 million and $30 million, depending upon the startup's idea and estimated ROI.

TDF Ventures

• Contact: info@tdfventures.com
• Website: Home | TDF Ventures
• Focused Sectors: SaaS, Software, Digital Marketing, Small and Medium Businesses, B2B, Enterprise Software, Human Resources, Life Insurance, Aerospace, Drone Management, Drones, Women Founded, Artificial Intelligence, Broadcasting, Content, Digital Media
• Funding Stages: Early and Seed
• Present in: Maryland
• Notable Investments: Expel, EdgeConneX, NS1, Catalytic, and CounterFlow AI
• Total Investments: 132

Funding startups for 2 decades, TDF Ventures is a venture capital firm based in Chevy Chase, Maryland, that focuses on investing in early-stage companies. The network was founded in 2004 by Jim Pastoriza and Will Rayner. 

TDF Ventures invests in early-stage companies with strong, dedicated founding teams and scalable business models that can grow quickly in competitive markets. The investors mostly target startups that can at least generate 5-10x ROI within the next 3 years and are led by experienced founders.

On average, TDF Ventures makes initial investments of $5 million to $10 million, with a focus on companies that have developed innovative solutions with the potential for large-scale adoption.  

NextGen Venture Partners

• Contact: contact@nextgenvp.com
• Website: Home (nextgenvp.com)
• Focused Sectors: Edtech, Cleantech, Fintech, IT, Industrial Manufacturing, Manufacturing, Food and Beverage, Supply Chain Management, Logistics, Transportation, Building Material, E-Commerce, Electronics, Customer Service, Innovation Management, Marketing, Outdoors, Computer, Automotive
• Funding Stages: Early
• Present in: Maryland
• Notable Investments: UrbanStems, Brllnt, and FiscalNote 
• Total Investments: 125

NextGen Venture Partners stands out with a unique, community-driven approach to venture capital. Founded in 2012, NextGen taps into a network of over 1,000 venture partners who collectively bring capital, resources, and mentorship to early-stage companies.

Since its inception, NextGen Venture Partners has funded over 100 startups and successfully exited 30. During the screening tests, the investors prioritize companies with strong leadership teams, disruptive products, and high growth potential. 

NextGen Venture Partners typically invests in early-stage companies, making initial investments ranging from $500,000 to $2 million. 

Lockheed Martin Ventures

• Contact: ventures@lmco.com
• Website: Lockheed Martin Ventures | Lockheed Martin
• Focused Sectors: Artificial intelligence, cybersecurity, autonomous systems, space technologies, and advanced manufacturing
• Funding Stages: Early
• Present in: Maryland
• Notable Investments: Terran Orbital, Cybereason, Ocean Aero, Axiom Space, and BlackSky
• Total Investments: 110

Lockheed Martin Ventures was established in 2007 as the venture capital arm of Lockheed Martin, a global aerospace and defense giant.  The firm has a mission to invest in startups that are developing groundbreaking solutions in the tech sector. 

When funding startups, Lockheed Martin Ventures invests in companies from the early to growth stages. The team of investors prefers companies that can provide dual-use technologies with applications in both the commercial and defense sectors. 

The average check size of Lockheed Martin Ventures lies between $1 million to $5 million. 

Wrap-Up:

Summing it up, Maryland's thriving tech ecosystem is supported by dozens of top-tier venture capital firms. From general tech and software to cutting-edge defense and space technologies, these investors are actively seeking innovative companies with the potential for rapid growth. 

As a founder planning to pitch to these investors, you should have a clear, compelling vision and a scalable business model that aligns with the investor’s focus. Show strong market demand, highlight a dedicated team, and discuss future exits.