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CIT GAP Funds makes seed-stage equity investments in Virginia-based technology and life science companies with a high potential for achieving rapid growth and generating significant economic return.

GAP Funds Portfolio

CIT’s GAP Venture Fund began deploying capital in mid-2005. The Fund invests in high-potential early stage technology companies accelerating their path to significant growth through active partnership and company development.

Logo - 4FrontSecurity, Inc. 4FrontSecurity, Inc.
Reston, Virginia
CEO: Chris Parker
Company Status: Acquired by Symantec – 2/23/07
Investment Status: Historical
Fund: GAP Fund I
Software-as-Service platform for distributed risk and compliance management and reporting.
Logo - 4Wave, Inc. 4Wave, Inc.
Sterling, Virginia
CEO: Sammy Antrazi
Company Status: Private
Investment Status: Historical
Fund: GAP Fund I
Gradient ion beam deposition process for optical and semiconductor device production.
Artinnet ArtiNNet
Woodbridge, Virginia
CEO: Michael Farrah
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Provider of voice authentication for mobile.
Engineered Products of Virginia, LLC
Saltville, Virginia
CEO: Curtis Frye
Company Status: Private
Investment Status: Current
Fund: GAP Fund I, Green Tech Initiative.
Developer and manufacturer of innovative electronic and electrical products for the electrical transformer, motor and electrical apparatus manufacturing industries.
 
Logo - Eye Q Development Eye Q Development, Inc.
Reston, Virginia
CEO: Cliff Krieg
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Suite of proprietary RFID products that provide real-time tracking of assets and personnel.
GCPay
South Hill, Virginia
CEO: Sherwood H. Creedle
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Online application that simplifies and automates construction process payments.
Logo - Global Cell Solutions, LLC

Global Cell Solutions, LLC
Charlottesville, Virginia
CEO: Uday Gupta
Company Status: Private
Investment Status: Current
Fund: GAP Fund I
Low-shear three dimensional cell culturing hardware and growth media.

Logo - Innovative Biologics Innovative Biologics
Sterling, Virginia
CEO: Jeff Conroy
Company Status: Private
Investment Status: Current
Fund: GAP Bio Fund
Anti-infective small molecule drug discovery and development company searching for new anti-microbial drugs targeting bacterial toxins.
Logo Kzo KZO Innovations
Herndon, Virginia
CEO: Wes Kruver
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Provider of an interactive communications platform that delivers live and pre-recorded video, audio, and text over IP in a set of applications.
Logo Latista Latista
Reston, Virginia
CEO: Andrei Lavrov
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Total field management solution which enables real-time collaboration among project participants such as contractors, subcontractors, architects/engineers, and owners.
Logo - LT Technologies LT Technologies, LLC.
Chantilly, Virginia
CEO: Mark Tian
Company Status: Private
Investment Status: Historical
Fund: GAP Fund I
Microwave technology for broad-scale processing of semiconductors and electronic materials.
Logo - Mpowerplayer, Inc. Mpowerplayer, Inc.
Reston, Virginia
CEO: Michael Powers
Company Status: Private
Investment Status: Current
Fund: GAP Fund I
Mpowerplayer’s platform drives purchases of mobile games by enabling consumers to browse, experience, sample and purchase mobile games and applications via their PC prior to making a purchase decision.
Miserware
Blacksburg, Virginia
CEO: Kirk Cameron
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund, Green Tech Initiative
Software provides power measurement and management for corporate and government environments.
Logo - NBE Technologies, LLC NBE Technologies, LLC
Blacksburg, Virginia
CEO: Dr. Guo-Quan Lu
Company Status: Private
Investment Status: Current
Fund: GAP Fund I
Lead-free, high-performance and high-temperature device interconnection materials.
Logo - nexGenVS nexGenVS
Blacksburg, Virginia
CEO: Richard Morrow
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Software application and service that allows mobile phone users to stream live video to multiple simultaneous viewers on mobile devices or PCs.
Logo - nexVortex nexVortex
Herndon, Virginia
CEO: Fred Fromm
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Business Grade IP Services, offering SIP Trunking and Audio Conferencing.
OTraces
Herndon, Virginia
CEO: Keith Lingenfelter
Company Status: Private
Investment Status: Current
Fund: GAP Bio Fund
Highly accurate and sensitive blood screening tests for breast, prostate, lung and ovarian cancers.
Logo - Paxfire, Inc. Paxfire, Inc.
Herndon, Virginia
CEO: Mark Lewyn
Company Status: Private
Investment Status: Historical
Fund: GAP Fund I
Platform for redirection of address-bar "Hotword" search mistypes.

Piedmont Bioproducts, LLC
Gretna, Virginia
CEO: Ken Moss
Company Status: Private
Investment Status: Current
Fund: GAP Fund I, Green Tech Initiative.
Renewable resource company that will generate products derived from energy crops grown by farmers in a closed loop system within a specified radius of its refinery.

Logo - PluraPage Ondialog
Herndon, Virginia
CEO: Clara Conti
Company Status: Private
Investment Status: Current
Fund: GAP Fund I
Software-as-Service platform for creating and executing cost-effective lead generation.
Logo - RollStream RollStream
Fairfax, Virginia
CEO: Kristin Muhlner
Company Status: Private
Investment Status: Current
Fund: GAP Fund I
Hosted platform for distributed enterprise-wide technology and process rollouts.
Logo - Secure Command, Inc. Secure Command, Inc.
Fairfax, Virginia
CEO: Anup Ghosh
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Secure Command is commercializing technology built under DARPA funding that creates disposable operating systems on demand in virtual machines to run Internet applications.
Logo - Senior-Living. Senior-Living.
Vienna, Virginia
CEO: Todd Walrath
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Senior living referral services.
Soft Tissue Regeneration LLC
Earlysville, Virginia
CEO: Joseph Reilly
Company Status: Private
Investment Status: Current
Fund: GAP Bio Fund
Soft tissue regeneration of the anterior cruciate ligament (“ACL”) of the knee.

South49 Solutions
Sterling, Virginia
CEO: Stefan Midford
Company Status: Private
Investment Status: Current
Fund: GAP Fund I
Software-as-Service platform for distributed workforce and task management.
Logo - SquareLoop, Inc. SquareLoop, Inc.
Reston, Virginia
CEO: Tom Stroup
Company Status: Private
Investment Status: Current
Fund: GAP Fund I
Location-Based Services (LBS) platform for time-specific public alerting and content delivery.
SwipePay Mobile, Inc.
Alexandria, Virginia
CEO: Chris Wuhrer
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Secure mobile application and middleware platform for prepaid reload and gifting.
Logo - Tau Therapeutics Tau Therapeutics
Charlottesville, Virginia
CEO: Andrew Krouse
Company Status: Private
Investment Status: Current
Fund: GAP Fund I
Calcium T-channel blocking agents for anti-angiogenesis treatment of tumor-based diseases.
Logo - Verical Inc. Verical Incorporated
Alexandria, Virginia
CEO: Josef Ruef
Company Status: Series A Round – 9/27/07
Investment Status: Current
Fund: GAP Fund I
Hosted trade management platform for secondary electronic components.
WorkProducts, Inc.
Reston, Virginia
CEO: Steve Lilley
Company Status: Private
Investment Status: Current
Fund: GAP Tech Fund
Real time and forensic monitoring and archiving of enterprise electronic records and communications.

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GAP Funds portfolio companies are early stage companies with corresponding investment risk profiles; CIT assumes no liability for any investment by any person in any GAP Funds Portfolio company.  

GAP Funds Highlights

  • South49 closes Series A round on 2/4/09
  • KZO Innovations closes a Series A round on 11/14/08
  • RollStream closes a Series B round on 10/27/08
  • Mpowerplayer closes a Series A round on 9/9/08
  • Global Cell Solutions closed a Series A round on 4/22/08
  • SquareLoop closed a Series A round on 12/17/07
  • Tau closed a Series A round on 10/19/07
  • Verical closed a Series A round on 9/27/07
  • Plurapage closed a Series A round on 4/13/07
  • 4FrontSecurity was acquired by Symantec on 2/23/07
  • Visure closed a Series A round on 2/22/07
  • RollStream closed a Series A round on 7/17/06
  • Paxfire closed a Series A round on 4/22/05
 
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