CIT Investment News

CIT GAP Funds Actively Looking For New Deals
February 6, 2009
Tom Weithman, managing director of the Center for Innovative Technology’s GAP Funds in Virginia says, “We are absolutely looking for new deals and we’re seeing a really remarkable level of deal flow involving top notch companies and high quality entrepreneurs.”

CIT GAP Funds Invests in MiserWare, Inc.
July 16, 2008
As corporate America pushes to become more eco-friendly, “Green IT” has moved to the forefront of the information technology industry. The Center for Innovative Technology’s GAP Fund has invested $100,000 in MiserWare, Inc., a Blacksburg, Va.-based software startup that figures to be a leading player in that movement.

CIT GAP Funds Invests in OTraces, Inc.
June 17, 2008
The Center for Innovative Technology (CIT), a state-chartered non-profit, announced today that its GAP BioLife Fund, part of the successful GAP Family of Funds, made a $100,000 early-stage investment in OTraces, Inc., a Herndon, Va.-based company that offers more highly accurate and sensitive blood screening tests for breast, prostate, lung and ovarian cancers.

CIT GAP Fund Invests in GCPay
June 10, 2008
The Center for Innovative Technology (CIT) announced today that CIT GAP Funds is investing in GCPay, a South Hill, Va.– based company whose online application service helps construction project owners, lenders, auditors, general contractors, and subcontractors by simplifying and automating the collection, reporting and processing of construction project progress payments. CIT will invest $100,000.

CIT GAP Funds Invests in WorkProducts, Inc.
May 20, 2008
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing in WorkProducts, Inc., a Reston, Va. – based company with a market-leading evidence lifecycle management (ELM)/litigation compliance product, the MatterSpace® appliance. WorkProducts will use this capital to continue its customer and alliance partner execution, as well as to fortify its intellectual property protection.

CIT GAP Funds Invests in STR, LLC
April 22, 2008
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is leading an investment round in Soft Tissue Regeneration, LLC (STR), a medical device company based in Earlysville, VA, that develops synthetic scaffolds to encourage tissue regeneration.  CIT will invest $100,000.

CIT GAP Funds Invest in NexGenVS, LLC
December 20, 2007
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing $100,000 in NexGenVS, LLC, a peer-to-peer (P2P) data sharing company with a patented architecture. NexGenVS, headquartered in Blacksburg, Va., will use the investment to complete and launch its software and service, build its team, implement partner channels and market its product.

CIT GAP Funds Invest in nexVortex, Inc.
December 11, 2007
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is leading an investment round in nexVortex, Inc., an Internet Telephony Service Provider headquartered in Herndon, VA, that specializes in “business grade” SIP trunking and other IP-based integrated applications and services. CIT will invest $100,000, which nexVortex will use to complete its business planning and to start implementation of a suite of collaborative Web 2.0 based services.

CIT GAP Funds Invests in Eye Q Development
July 31, 2007
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing $100,000 in Eye Q Development, Inc., which produces advanced technology identification, security and safety items for business.  Eye Q of Reston will use the investment for research and product development using magnetic media and RFID technologies.

CIT GAP Funds Invests in LT Technologies
July 24, 2007
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds is investing $100,000 in LT Technologies, LLC (LTT) to advance next generation semiconductor technologies. LT Technologies of Chantilly will use the investment to finance further research and development, commercialization and marketing of its break-through microwave technology and products in the semiconductor rapid thermal processing and bonding markets.

Center for Innovative Technology Invests $200,000 in Engineered Products of Virginia and Piedmont Bioproducts
May 11, 2007
The Center for Innovative Technology (CIT) today announced that the CIT GAP Fund invested $200,000 in Engineered Products of Virginia, LLC and Piedmont Bioproducts, LLC in order to support the expansion of technology-based industries in Southern Virginia.

Center for Innovative Technology Invests $100,000 in Piedmont Bioproducts
May 11, 2007
The Center for Innovative Technology (CIT) today announced that the CIT GAP Fund invested $100,000 in Piedmont Bioproducts, LLC in order to support the expansion of technology-based industries in Southern Virginia.

Center for Innovative Technology Invests $100,000 in Engineered Products of Virginia
May 10, 2007
The Center for Innovative Technology (CIT) today announced that the CIT GAP Fund invested $100,000 in Engineered Products of Virginia, LLC.

CIT GAP Fund Invests in NBE Technologies
March 26, 2007
The Center for Innovative Technology (CIT) today announced that its GAP Fund made an investment of $50,000 in NBE Technologies, LLC. NBE Technologies will use the investment to expand its workforce and manufacturing capabilities.

CIT Launches New Emerging Life Sciences GAP Fund
March 15, 2007
The Commonwealth’s Secretary of Technology and the Center for Innovative Technology (CIT) today announced that the CIT Growth Acceleration Program (GAP) has launched a new fund, the GAP BioLife Fund, a seed stage venture fund to support emerging life science companies in Virginia. The fund launch coincides with CIT’s receipt of a grant from Johnson & Johnson, through the Corporate Office of Science and Technology, aimed at jump-starting fund formation and launch.

Symantec Makes Strategic Acquisition of CIT GAP Fund Portfolio Company
March 12, 2007
Center for Innovative Technology (CIT) today announced the acquisition of 4FrontSecurity, Inc., a GAP Fund portfolio company, by Symantec Corp., the world’s largest software security firm.

CIT GAP Fund Invests $70,000 in South49 Solutions
February 22, 2007
The Center for Innovative Technology (CIT) today announced that its GAP Fund invested $70,000 in South49 Solutions, LLC, a leading-edge provider of business technology services based in Sterling, Va. The investment will facilitate expansion of the company’s product offerings and web based software platform.

CIT GAP Fund Invests $100,000 in iNeoMarketing
November 20, 2006
The Center for Innovative Technology (CIT) today announced that its Growth Acceleration Program (GAP) fund invested $100,000 in iNeoMarketing™, a hosted eMarketing software company based in Herndon, Va. The investment will facilitate building a sales infrastructure, marketing and software development.

Center for Innovative Technology Announces Pilot Program for Seed Capital Generation
November 9, 2006
The Center for Innovative Technology (CIT) today announced the launch of a pilot program that will provide seed capital of up to $100,000 to promising early and growth stage technology businesses located in Southside and Southwest Virginia.

CIT GAP Fund Invests $50,000 in Global Cell Solutions
October 26, 2006
The Center for Innovative Technology (CIT) today announced that its Growth Acceleration Program (GAP) Fund invested $50,000 in Global Cell Solutions, LLC, a Charlottesville, Va.-based biotechnology company focused on the application of novel and dramatically improved cell culture technologies to human therapy. The investment will facilitate intellectual property filings, product research and development and sales and marketing efforts.

CIT GAP Fund Invests $100,000 in Verical
October 11, 2006
The Center for Innovative Technology (CIT) today announced that its Growth Accelerated Program (GAP) fund invested $100,000 in Verical Incorporated, an Alexandria, Va.-based e-commerce assurance company that provides authentication tools and clearinghouse services to prevent fraud in secondary marketplaces.   The investment will facilitate middleware development, a commerce platform, sales expansion and research and development.

Charles Curran Named to CIT’s GAP Fund Investment Advisory Board
August 28, 2006
The Center for Innovative Technology (CIT) today announced the appointment of Charles Curran, general partner at Valhalla Partners, to CIT’s GAP Fund Investment Advisory Board (IAB).  The GAP Fund IAB guides CIT in making all GAP Fund investment decisions.

Three New Members Named to CIT’s GAP Fund Investment Advisory Board
August 21, 2006
The Center for Innovative Technology (CIT) today announced the appointments of Daniel Barchi, Hiram Ewald and S. Tien Wong to the organization’s GAP Fund Investment Advisory Board (IAB).  The GAP Fund IAB guides CIT in making all GAP Fund investment decisions.

CIT GAP Fund Named to Entrepreneur Magazine’s Top 100 Venture Capital Firms
Entrepreneur Magazine named the Center for Innovative Technology’s GAP Fund one of the Top 100 Venture Capital Firms in 2006.  The listing, http://www.entrepreneur.com/listings/vc100, ranks venture capital firms by the number of early-stage deals

CIT GAP Fund Invests in Rollstream
March 8, 2006
The Center for Innovative Technology (CIT) today announced that its GAP Fund participated in a $200,000 investment round in Rollstream, Inc., a Fairfax, Va.-based enterprise software management company.

CIT GAP Fund Invests in Bent Systems
March 6, 2006
The Center for Innovative Technology (CIT) today announced a $70,000 convertible debt investment by its GAP Fund in Bent Systems, Inc., a Fairfax, Va.-based company.

CIT GAP Fund Invests in Tau Therapeutics
February 6, 2006
The Center for Innovative Technology (CIT) today announced that its GAP Fund would invest $100,000 in Tau Therapeutics, LLC, a University of Virginia spin-out focused on the chronic treatment of cancer.

CIT GAP Fund Invests in Airak
February 2, 2006
The Center for Innovative Technology (CIT) today announced that its GAP Fund invested $50,000 in Airak, Inc., a Virginia Tech spin-out developing optical sensing technology for medium voltage power distribution.