Falafel and rice bowl juggernaut Cava Group led Greater Washington to its biggest annual venture capital haul ever, raking in just north of $2 billion in 2018, according to data released Thursday as part of the PitchBook-NVCA Venture Monitor.
The massive year tops an already huge $1.5 billion in 2017 and is the most funding for the D.C. region in a single year since PitchBook began tracking data in 2002. Cava led the way by far, assembling about $283.68 million in the fourth quarter as it consumed Zoe’s Kitchen Inc. in a previously announced deal. The District food chain was followed by Beltsville biotech Nextcure with $93 million in fresh funding and Bethesda health care company Aledade.
The eye-popping numbers reflect the national landscape, where the total venture capital raised was about $130.9 billion, the first time it crossed the $100 billion mark and the most money of any year PitchBook has recorded, including the height of the dot-com boom in 2000.
The good: The huge funding…Read the full story from the Washington Business Journal.