BFTP invests in 11, First Round Capital raises fourth fund

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.

MUST READ

Ben Franklin Technology Partners has invested $1.7 million in 11 local early-stage companies. Companies include Burst Online Entertainment, CloudMine and QR Pharma. More on Cloudmine’s funding here.

Former TechCrunch reporter Sarah Lacy has launched Pando Daily, a new tech news site. The company received $2.5 million from investors that included Josh Kopelman, managing partner at First Round Capital. Kopelman invested as an individual. As best we can tell its his first investment since he shuttered Midas Capital in 2004.

According to PE hub, First Round Capital is raising its fourth fund. The site says the company’s personal and investment strategy will remain the same and for good reason: the firm has a string of high profile investments and exits in the past two years including Philadelphia-born Invite Media.

PE Hub also has the scoop on a new buyout shop in town: Parkes Run Capital.

MIGHT BE WORTH YOUR TIME

Business Insider has a profile on Vox Media, the Comcast Ventures-funded media company responsible for new tech site The Verve.

DreamIt Ventures has been named one of the 10 hottest startup incubator by Forbes. The magazine also muses that maybe startup incubators are better than business school.

Edison Ventures has invested $7.5 million million in KEMP Technologies [PDF link]. The Long Island-based company makes application delivery controllers.

GIVE A GLANCE

First Round Capital portfolio company Fab.com has purchased Fashionstake for an undisclosed amount. The company was described as “a community of indie fashion lovers” in the press release. Also in First Round acquisition land: portfolio company TaskRabbit has acquired SkillSlate. The services are similar, both creating a marketplace for people to complete tasks for others.

Genacast Ventures managing partner Gil Beyda was on a panel on ultralight startups in the 67th ward.

Plymouth Meeting-based Pinnacle 21 has raised $300,000 according the SEC filings. The company makes enterprise data products.