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.
Thanks to the holiday it has been a slow news week here at the VC roundup. In no particular order:
As we reported on Friday, DreamIt Ventures has teamed with Ben Franklin Technology Partners to provide bridge financing to graduating startups to keep them in the Philadelphia area. Maybe that’s why they can now afford a cleaning crew.
First Round Capital has been busy (even for them). The firm has is among those to invest over $30 million in social-focused browser RockMelt’s Series B round. Conshohocken-based First Round portfolio company Click Equations also exited this month. Philly Tech News has a write up so detailed that even Josh Kopelman is suspicious. We told you about the busy week in early June.
Remember when we told you about Advanced BioHealing exiting to Shire for $750 million? Well Safeguard revealed last week that it netted $145.4 million from the sale. Look out Friday for a Q and A with Safeguard CEO Peter Boni. We ask him what it feels like to have four (!!!) exits in the past six months.
Ben Franklin Technology Partners is a founding member of the International Commercialization Forum which just released its first report this week.-30-