o DC-based Godspeed Capital Closes on New $750 Million Fund
o Arlington-based Tria Federal Acquires Leesburg-based Softrams
o NVTC Names Honorees of 2024 Tech100 Awards
o Arlington-Based Lingo Raises $2.3 Million to Boost STEM Education
o DC-Based FiscalNote Sells South Korean-Unit Aicel Technologies
o Briefly Noted: TD International, DXC Technology, ManTech, ePlus
DC-based Godspeed Capital Closes on $750 Million Fund
Washington, DC – Godspeed Capital Management, a DC-based private equity firm focused on defense and government technology companies, announced the final close of its Godspeed Capital Fund III with a “hard cap” of $750 million in capital commitments. Godspeed said it has now raised over $1.1 billion since its founding in 2021. “Following the successful close of Fund III, we look forward to continuing to partner with founder- and management-owned businesses operating across the Defense & Government sectors that have reached an inflection point in their growth trajectory,” said Douglas Lake, Jr., founder & managing partner of Godspeed Capital.
Arlington-based Tria Federal Acquires Leesburg-based Softrams
Arlington, Va. – Tria Federal, an Arlington-based federal contractor focused on digital transformation, announced that it has acquired Leesburg-based Softrams, a provider of digital services to the federal government. Financial terms of the deal were not disclosed. Tria, which focuses on federal health and public safety agencies, is a portfolio company of private equity firm Sagewind Capital. Softrams’ largest customer is the Centers for Medicare & Medicaid Services. The merged company will have over 1,500 employees. "Our acquisition of Softrams is an inflection point in our journey to become a major player in federal health," said Tim Borchert, CEO of Tria. "Softrams brings exceptional technical capabilities and customer relationships that complement our existing strengths across multiple agencies.”
NVTC Names Honorees of 2024 Tech100 Awards
McLean, Va. – The Northern Virginia Technology Council (NVTC) has named the 2024 honorees of its annual Tech100 awards. NVTC said the awards recognize companies and innovators “who are at the forefront of driving innovation, developing groundbreaking technologies, and significantly contributing to economic growth.” An event on December 10 will recognize the winners. The full list of honorees is available here.
Arlington-Based Lingo Raises $2.3 Million to Boost STEM Education
Arlington, Va. – Lingo, an Arlington-based edtech startup founded by rocket scientist and astronaut Aisha Bowe, has raised $2.3 million in a seed round of funding, which included participation by DC-based 1863 Ventures. Pinnacle Private Ventures also participated in the round, which the company will use to expand its hands-on, project-based coding kits and curriculum for kids in fields such as artificial intelligence, space systems and environmental monitoring. Lingo’s programs are currently being implemented by partners such as General Dynamics Information Technology, Siemens Healthineers, Leidos and Howard University. Bowe is a former NASA rocket scientist and future Blue Origin astronaut who started her company to help young people get an earlier start on STEM education than she did.
Bethesda-Based Vitrian Invests $50 Million into AmplifyBio Facility
Bethesda, Md. – Vitrian, a Bethesda-based provider of investment capital and services focused on biomanufacturing, said it has invested $50 million into AmplifyBio’s manufacturing facility in Ohio. AmplifyBio, spun out from Battelle in 2021, offers a range of drug development and manufacturing services. The company’s 350,000-square-foot Central Ohio site houses its multi-modality process development and quality control labs and manufacturing suites. Vitrian said its total investment amount could increase to as much as $65 million
DC-Based FiscalNote Sells South Korean-Unit Aicel Technologies
Washington, DC – FiscalNote, the DC-based developer of AI software designed to help customers manage political and business risk, said it has sold South Korean subsidiary Aicel Technologies to a South Korea-based group that includes Aicel’s current CEO. The company said it received $9.65 million in the deal, including $8.5 million in cash. Aicel is an alternative data company that provides datasets aimed at the Korean financial markets. FiscalNote acquired Aicel in 2022, and said the unit accounted for less than 2% of its revenue for the year ending July 30.
> Potomac Tech Wire’s Venture Capital Outlook 2025 Event in Reston
We are pleased to announce our next event -- Venture Capital Outlook 2025 -- will be held on December 19th in Reston at the Carahsoft Conference Center.
For more information and to register, go to: https://vc25.eventbrite.com/
This is one of our most popular events, so register early in case it sells out.
It will be a great networking event as we explore the current state of venture in the region.
Speakers:
o Phil Bronner, Managing Partner, Ardent Venture Partners
o Mark Frantz, General Partner, Blue Delta Capital Partners
o Moderator: Paul Sherman, Editor, Potomac Tech Wire
o Other top speakers to be announced...
Briefly Noted
(Washington, DC) TD International, the DC-based provider of strategic advisory services and risk management software, has named Jay Truesdale as its new CEO. Truesdale most recently served as the CEO of Veracity Worldwide, and previously was an associate partner at McKinsey & Co. He also has served as chief of staff at the U.S. embassy in Pakistan and special assistant to two Deputy Secretaries of State. He succeeds Gabriel Rodriguez.
(Ashburn, Va.) Ashburn-based technology services provider DXC Technology has named James Walker as its chief administrative officer. Walker most recently served as the vice president of economics for IBM Cloud, and earlier held senior leadership positions at Bank of America, Morgan Stanley and Credit Suisse.
(Herndon, Va.) Herndon-based ManTech, a provider of technology and services to defense, intelligence and federal civilian agencies, said it has formed a new seven-member defense advisory board. The board will aim to help the company continue its growth in the defense sector. The full slate of board members is available here.
(Herndon, Va.) Herndon-based ePlus, a provider of technology consulting services, said it will team with data center operator Digital Realty to launch its AI Experience Center at Digital Realty's Innovation Lab in Ashburn. The center will be designed to let customers experience AI technologies in data center facilities built for AI-optimized infrastructure.