New Enterprise second most active VC Investor in ’08
Baltimore-based New Enterprise Associates was the second most active venture capital investor in the nation in 2008, according to a recent study, investing with 92 companies last year.
However, the majority of its investments came in the first three quarters of the year; the firm invested with 15 companies in the fourth quarter, down from an average of 23 in the nine months of the year.
New Enterprise Associates specializes in investing with IT and medical services companies, with a focus on emerging markets in China and India. The firm of Draper Fisher Jurvetson, based in California, led the venture capital field, investing with a total of 132 companies in 2008.
— Daniel Furman
Northrop Grumman unveils next-generation F-16 radar
Northrop Grumman for the first time Monday demonstrated its new Scalable Agile Beam Radar, or SABR, system intended as an enhancement for the U.S. fleet of F-16 fighter craft.
The company successfully completed demonstration flights of the system in November, and said full production of the technology could generate hundreds of millions of dollars affecting the Maryland economy in coming years.
“SABR is Northrop Grumman’s investment toward enhancing and sustaining the F-16’s combat capability for decades to come,” said Arlene Camp, the company’s director of Advanced F-16 Radar Programs.
— Aaron Cahall
