IT Executives Partner to Create Maryland Cyber Investment Partners -- Security Today

IT Executives Partner to Create Maryland Cyber Investment Partners

Feb 23, 2011

Three prominent Maryland high-tech executives have joined forces to form Maryland Cyber Investment Partners (MCIP). The firm, established by Art Jacoby, Larry Letow and Joe Tedesco is designed to provide growth capital, strategic introductions and expert IT business guidance to growth stage firms focusing on cybercrime and intelligence, as well as specialty niche government contractors.

“Maryland Gov. Martin O’Malley recently stated how Maryland is poised to lead the nation’s war on cyber-crime,” said MCIP Managing Partner Tedesco. “MCIP is ready to help Maryland dominate the cyber security market.”

“With our more than 50 years of successful experience building companies, successfully completing mergers and acquisitions, and developing relationships throughout the IT community, MCIP is uniquely positioned to help established technology companies grow,” added Managing Partner Letow. ”

“We’ve created the one-stop shop for growth-oriented cyber security and 'Intel' companies to accelerate their business by leveraging MCIP’s capital, operating expertise, sales network, and government relationships,” said Managing Partner Jacoby.

Maryland Department of Business and Economic Development (DBED) recently announced Invest Maryland, an initiative that would create a public-private partnership to invest $100 million in innovative start-up companies in the state. Adam Suri, DBED director for Cyber Security and Office of Innovative Technologies, said, “We are delighted to welcome MCIP as a great new source of financing for Maryland’s cyber community. These accomplished IT entrepreneurs plan on working closely with the Maryland DBED and the MD Venture Fund to create more jobs and make our nation more secure. That’s exactly the type of public/private partnership we want to foster here in Maryland.”

The three MCIP partners have the practical experience and connections to take small business and grow them into large enterprises. Tedesco sold his IT services firm Architech to NYSE-listed Navigant Consulting (NCI), and as founder and managing partner of Potomac Investment Partners has led investments in various companies in the Baltimore-Washington corridor. Letow is president and chief operating officer of Convergence Technology Consulting, chair of the Technology Council of Maryland and is active statewide promoting the interests of the IT community in addition to selling a few previous technology companies. And Jacoby, the leading small business strategist in Maryland and experienced CEO with a corporate mergers and acquisition background, has been advising and advocating on behalf of Maryland IT companies for many years.

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