Local venture capital transactions announced in the past week:
* SkyBitz Inc., a Dulles developer of satellite-tracking technology, raised $18 million in a round led by Industrial Technology Ventures L.P and AIG Highstar Capital L.P., the investment fund sponsored by insurance giant American International Group Inc. The money will be used to pay marketing expenses.
* Psychiatric Genomics Inc. of Gaithersburg, which conducts research for drugs to treat psychiatric diseases, raised $17 million in a second round of funding led by Catalytix LDC. Other investors included the Stanley Medical Research Institute, Oxford Bioscience Partners, GIMV NV, Emerging Technology Partners, CIBC, the Maryland Department of Business and Economic Development, and Alexandria Real Estate Equities L.P. The money will be used to fund drug discovery.
* Solena Group Inc. of Washington, a developer of alternative fuel sources, raised $10 million in a first round of funding led by Hydro-Quebec CapiTech Inc. and Edison Development Corp. Other investors included OPG Ventures Inc. and CSL Properties Ltd.
* Monitoring Technology Corp. of Fairfax, a maker of software for monitoring industrial equipment, raised $5 million from investors that included Anthem Capital Management Inc., TDH Capital Corp. and VIMAC LLC. The money will be used to eliminate corporate debt.