DreamIt Ventures is open for business

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.
Note: VC Roundup was off last week.
DEFINITE READS
DreamIt Ventures applications are now open. Last week the incubator announced that its NYC edition has accepted one Philadelphia company, CustomCoup. Also, aas we covered last week, DreamIt Ventures will be partnering with Comcast Interactive Capital to feature a Minority Entrepreneur program in its 2011 incubator.
PhillyDeals has the writeup of Chris Fralic’s speech to Drexel students last week. Fralic says there has never been a better time to start a company citing Invite Media’s exit to Google as an example of a student-run business that resulted in a big exit.
MIGHT BE WORTH YOUR TIME
Ben Franklin Technology Partners has approved investment in ten new companies including AboutOne and Click Equations.
According to a Form D filing, LifeShield Inc has raised $7.5 million in funding. The Yardley-based company offers home security. Novak Biddle general partner Philip Bronner is among those listing on the filing.
GIVE A GLANCE
TimeWarner joins Comcast Interactive Capital as an investor in dynamic ad company BlackArrow.