VC Roundup: BFTP named to federal board, local angels get coverage from the NYT

Welcome to the VC Round-up, where we’ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup as an email newsletter. If you have any VC-related news to pass along to us, please drop us a line.
DEFINITE READS
Philly Tech News is reporting that First Round Capital has invested in locally-based advertising company AdCopy, the company that inserts advertising into CAPTCHAs. Though we can’t verify it anywhere else, our friends at PTN are typically on point, so keep an eye out.
We’re a bit late on this, but Safeguard Scientifics’ Kevin Kemmerer extrapolates on one of the questions asked by Technically Philly during his Q&A earlier this month. Kemmerer, EVP and managing director of Safeguard technology group, explains why  Safeguard, a publicly traded company, is different than other VC firms.
Ben Franklin Technology Partners has invested nearly $1.8 million in nine local companies. Read our complete coverage here.
First Round receives praise for thinking ahead in this Silicon Alley Insider piece about the current and future state of venture capital. If you’re new to private equity, we highly suggest you give it a read.

MIGHT BE WORTH YOUR TIME
The President and CEO of BFTP, RoseAnn Rosenthal, has been named to the National Advisory Council on Innovation and Entrepreneurship. The council is selected by the U.S. Commerce Secretary and other board members include Jerry Yang, founder of Yahoo.
The New York Times gives a nod to Golden Seeds, the angel group with a presence in Philly that focuses on companies helmed by women.
GIVE A GLANCE
Speaking of Safeguard, the company is due to report its earnings on Thursday, July 29th.
Quaker BioVentures and New Spring Capital were named in a $6 million round for Nitric BioTherapeutics.
Fresh off of its investment in Lighthouse Inc, LLR Partners has invested $35 million in IOD, a medical information services company. IOD, basied in Green Bay, Wisconsin, serves over 1,800 hospitals.
Osage Ventures was named in a $4.33 million filing for Instamed, a healthcare payment network based in Bala Cynwyd.
There’s a new angel fund in NYC that aims to make a splash in the Mid-Atlantic tech angel market. ARC Angel fund, co-founded by the founder of VC rag The Funding Post, says its members average deals of $100,000 to $500,000. Call us crazy but that’s a little high to be considered “angel,” right?