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.
Phillip Moyer of Safeguard has written a guest post on Venturebeat about the dynamics of investing on the East vs West Coast. “The Northeast corridor is to commercialization what Silicon Valley is to engineers,” writes Moyer. “If you’re going to sell something to a business, you’re likely going to travel to the Northeast.”
GoodCompany Group, the result of a merger between GoodCompany Ventures and Green VIllage, is now seeking 2012 applicants. According to the release, the Center City-based incubator is seeking eight to 12 companies.
First Round Capital is raising its forth fund. According to SEC filings and several articles the VC firm is raising $135 million. The firm last raised money in 2010. Vator News points out that the raise is modest compared to the $2.5 billion Andreessen Horowitz raised.
MIGHT BE WORTH YOUR TIME
First Round Capital has followed up on its seed investment of Path reports The Next Web. The mobile social network app has seen a sudden growth in popularity over the past year.
What do Ashton Kutcher and First Round Capital have in common? They both invested in Dwolla. Our good friends at Silicon Prarie News have an interview with Kutcher.
Software Giant SAP, whose U.S. offices are in King of Prussia, is the latest strategic fund to be seeking investments. According to the San Francisco Chronicle, the fund was spun out of SAP last year and is seeking to invest in companies that may threaten SAP.
GIVE A GLANCE
First Round Capital is among the firms rumored to be seeking to invest in 9Gag the new Reddit-like viral content site with explosive growth.
Steve Welch, the former Managing Partner of DreamIt Ventures who is now running for Senate, is catching heat for not accepting a $642,000 state loan.