MVP raises funds to assist risk management firms

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Thursday, October 27, 2005

MCLEAN, Va.--Monumental Venture Partners will raise $75 million for early stage IT companies, such as enterprise risk management software firms throughout the Washington, D.C. metropolitan area. The firm plans to close its private round of funding by the middle of next year.
"We expect to begin investing that money next year," said Roland Oliver, president of Monumental Venture Partners. Oliver estimated that 25-40 percent of the investment pool could go to security applications and will assist about 12 to 15 companies.
The firm has watched enterprise risk management software companies gain momentum in public and private markets.
"There is a much higher awareness of the vulnerability of physical infrastructure," Oliver said. "You are going to find a blending reality that you should be just as concerned about industrial accidents or natural disasters than physical security. Risk management is the broader definition of security."
The venture capital firm takes a broad interpretation of security when backing companies. "Fifty percent of our portfolio is security-related," he said.
Companies on the edge of the security market, such as commercial software products, hardware and software related to Internet-based communications, will also be awarded funding.