Welcome to the VC Roundup, 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.
Number of deals by local VC’s: 1
Number of investments in local companies: 0
Mike Armstrong reports that VC’s were optimistic at this week’s IMPACT conference, the cornerstone event of the newly formed Greater Philadelphia Alliance for Capital and Technologies, (PACT). According to a survey 35 percent of attendees said they were raising additional capital and 33 percent said they were hiring and were planning for acquisitions.
MIGHT BE WORTH YOUR TIME
As we wrote in the past few VC roundups, Safeguard Scientifics is on a roll. The company has had two large exits in the past month. Philadelphia Business Journal says that the company has quadrupled its revenue since 2006.
GIVE A GLANCE
Motorola has invested in BlackArrow, a Comcast Interactive Capital company.
There’s a fella in Chester County who wants $100 million to further develop his shoe inserts that are being used by the 76ers and Philadelphia Union. Any VC folks have that kind of cash lying around?
First Round Capital has invested $3 million in MovieClips, a company that aims to help curate movie footage. The Series A round was made along with Shasta Ventures.