Maryland is the 9th smallest state in the United States. Being small in area doesn't mean the state is not progressing. The state's startup scene is evolving better than ever, thanks to all the angel investors and VC firms that are helping the state's emerging entrepreneurs. We went through a list of VC funds and firms operating in the state and made a list of the top 10 VC funds in Maryland based on a large amount of data. 

Here's a table that summarizes the overall VC data for a quick overview:

1. ABS Capital Partners

ABS Capital is a leading provider of growth equity funding for B2B software and tech-enabled services companies. With a focus on businesses with strong technology and data foundations, they specialize in helping companies scale effectively. With over 30 years of experience, ABS Capital has invested over $2.5 billion in approximately 130 companies. They offer expertise in investment, operations, technology, and business development to drive success. Their approach involves data-driven strategies, market research, and hands-on support for management teams, aiming to foster growth and achieve business goals.

Website: abscapital.com

Founding Year: 1990

Investment Range: $10M - $50M

Stage: Early, Late, Private Equity

Sector: FinTech, Healthcare, EdTech, eCommerce, cybersecurity, and Smart Cities

Investment Geography: United States

Notable Investments: Captivate Network, Neustar Inc., Payformance Corp., and Restaurant Technologies Inc

Submit Pitch/ Contact: Link

2. TDF Ventures

TDF Ventures is a venture capital firm specializing in early-stage investments. With a focus on enterprise markets like infrastructure, software, and services (IaaS, SaaS, XaaS), they manage a $150M Fund V. Their investment interests span various sectors including AI/ML, cybersecurity, fintech, and e-commerce. TDF Ventures seeks out startups poised for growth and innovation, providing them with the necessary support and resources to thrive in today's competitive landscape.

Website: tdfventures.com

Founding Year: 2004

Investment Range: $10M - $50M

Stage: Seed, Series A

Sector: Early-stage companies operating in the infrastructure, software, and services sectors including IaaS, SaaS, cybersecurity, artificial intelligence, ecommerce and XaaS

Investment Geography: United States

Notable Investments: Ooma, EdgeConneX, and PICKUP

Submit Pitch/ Contact: Link

3. New Enterprise Associates

New Enterprise Associates (NEA) is an American venture capital firm with a focus on investments from seed to growth stages across various industries. Headquartered in Menlo Park, California, and Washington, D.C., NEA manages around $25 billion in committed capital, making it one of the world's largest VC firms. Founded in 1977 by C. Richard Kramlich, Chuck Newhall, and Frank Bonsal, NEA has invested in nearly 1,000 companies, achieving over 650 liquidity events, including 250 IPOs and 300 acquisitions. With offices worldwide, NEA has consistently expanded its funds, reaching milestones like a $3.3 billion fund in 2017, the largest ever in venture capital history.

Website: nea.com

Founding Year: 1987

Investment Range: $1M - $50M

Stage: Seed, Early, Growth

Sector: Technology and Healthcare

Investment Geography: Global

Notable Investments: Workday, Groupon, Robinhood, Pinterest, Airbnb, WebMD, Fisker, Alkermes, TiVo, 3Com

Submit Pitch/ Contact: Link

4. Northpond Ventures

Northpond Ventures is a major venture capital firm focused on life sciences. It's known for its partnerships with top academic institutions like Harvard University and Stanford Medicine, where it helps fund research labs. Over the years, it's led or co-led financing for more than 60 projects. Northpond also promotes diversity, sponsoring awards for women entrepreneurs.

Website: npv.vc

Founding Year: 2018

Investment Range: $700K - $1M

Stage: Venture

Sector: Companies operating in the diagnostics, life science, digital health, technology, synthetic biology, and therapeutics sectors

Investment Geography: San Francisco, California; Cambridge, Massachusetts; Bethesda, Maryland

Notable Investments: Inflammatix, IsoPlexis, SGIDNA, Chroma Code, Intabio, General Automation Lab Technologies, Vizgen, SeLuxDiagnostics

Submit Pitch/ Contact: Link

5. Highland Capital Partners

Established in 1987, Highland Capital Partners is an established venture capital firm prioritizing entrepreneurs. Operating from Boston and Menlo Park, they've garnered over $3 billion in committed capital. With investments in 270+ companies spanning consumer and enterprise technology, Highland has played a pivotal role in cultivating industry-defining enterprises. Noteworthy portfolio additions encompass Rent the Runway, 2U, Catalant, Harry’s, Malwarebytes, nuTonomy, Clearbanc, Scopely, ThredUP, and Turbonomic.

Website: hcp.com

Founding Year: 1987

Investment Range: $1M - $50M

Stage: Seed, Early, and Growth Stage

Sector: Consumer, Enterprise, Technology

Investment Geography: Boston, Massachusetts, Silicon Valley, San Francisco

Notable Investments: 2U, Auris Health, Bromium, Clearbanc, Everlywell, Gigamon, Imprivata LevelUp, Lululemon Athletica, Malwarebytes, Qihoo 360

Submit Pitch/ Contact: laurel@hcp.com

6. New Markets Venture Partners

New Markets Venture Partners is a top-tier venture capital firm specializing in early and growth-stage investments in education, information technology, and business services. With a seasoned team and a 25-year history of success, New Markets focuses on companies that promise high returns through impactful innovations. Their strong ties to educational institutions and workforce innovation hubs enable them to offer significant support to portfolio companies at every stage of development.

Website: newmarketsvp.com

Founding Year: 2002

Investment Range: $100K - $5M

Stage: Early, Growth

Sector: Education, healthcare, information technology, and business services 

Investment Geography: United States

Notable Investments: Datapeople, Nexford University, Orijin, PBC, PAIRIN, Mantra Health, Pathstream, and others8. Notable exits include Galvanize, Credly

Submit Pitch/ Contact: Link

7. Arlington Capital Partners

Arlington Capital Partners is a private investment firm. They focus on industries regulated by the government, such as aerospace, defense, government services, technology, and healthcare. Since starting in 1999, Arlington has invested in over 150 companies. They work closely with founders and management teams to develop businesses that are strategically important in these sectors. Currently, they are investing from their $3.8 billion Fund VI.

Website: arlingtoncap.com

Founding Year: 1999

Investment Range: Undisclosed 

Stage: Buyout

Sector: Aerospace, defense, government services & technology, healthcare services, business services, and software

Investment Geography: United States and Western Europe-based companies

Notable Investments: Avalign Technologies, Advanced Health, AdVenture Interactive, Afton Scientific

Submit Pitch/ Contact: Link

8. Epidarex Capital

Epidarex Capital is a prominent venture capital firm focusing on early-stage life science ventures in overlooked markets. They invest in groundbreaking research, often nurturing startups from inception, to tackle significant medical challenges and improve patient outcomes.

Website: epidarex.com

Founding Year: 2010

Investment Range: £2M - £5M

Stage: Early

Sector: Life Science, Health Technology 

Investment Geography: UK, US

Notable Investments: Apellis Pharmaceuticals, Confluence Life Sciences, Sirakoss

Submit Pitch/ Contact: Link

9. StepStone Group

StepStone Group is a global investment firm specializing in private markets. They offer tailored investment solutions and advisory services to a diverse clientele, including large pension funds, sovereign wealth funds, insurers, endowments, foundations, family offices, and individual investors. StepStone collaborates closely with clients to craft private market portfolios spanning private equity, infrastructure, private debt, and real estate. Their expertise lies in creating investment strategies that align with client's specific goals and objectives, catering to both institutional and individual investors worldwide.

Website: stepstonegroup.com

Founding Year: 2006

Investment Range: $15M - $200M

Stage: Seed to Growth Equity

Sector: Not specified 

Investment Geography: Global

Notable Investments: Aqua Security, DuploCloud, Zepto, Bowery Valuation, Trullion, Everstream Analytics, Overhaul, FirstMeridian

Submit Pitch/ Contact: Link

10. TEDCO

TEDCO is a Maryland-based organization founded in 1998 to help tech and life sciences startups grow. They provide funding and support to these early-stage companies. TEDCO's mission is to create a welcoming environment for entrepreneurs by investing in and nurturing technology businesses. They prioritize accountability, collaboration, integrity, respect, and responsible resource management. TEDCO strives to be a national leader in research support and entrepreneurship, contributing to Maryland's vibrant innovation scene.

Website: tedcomd.com

Founding Year: 1998

Investment Range: $500K - $1.5M

Stage: Early

Sector: Invest in a variety of sectors including healthcare devices & supplies, software, business products & services (B2B), TMT

Investment Geography: Maryland, United States

Notable Investments: 3Dnamics, BLOCKsynop, Celcy

Submit Pitch/ Contact: Link

FAQ (Frequently Asked Questions)

Best of luck with your amazing ventures.

Please note that this list is filtered by various metrics, and all the data are collected through various third-party websites, mostly the VC website. Since data such as ticket size or industry may change, you are requested to visit the official website given in the blog for the latest and updated information.