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.
Philly Tech News takes a closer look at MoneyTree’s Q2 venture capital report and finds that at least a few companies that are listed as Philadelphia-area companies are not actually located in the region. It’s unclear what kind of impact this has on the data about the Philadelphia region but worth noting regardless.
First Round Capital re-invested in a Venice, Calif.-based movie catalog site that recently changed its name from Movieclips to Zefr, the Los Angeles Business Journal reports. Zefr raised an $18.5 million Series C round.
But the big, locally-relevant First Round Capital news is that it’s relocating from Conshohocken to Philadelphia, as we reported last week. Get more coverage from the Philadelphia Inquirer, Philadelphia Business Journal and ZDNet.
MIGHT BE WORTH YOUR TIME
Founded by University of Pennsylvania alumni, New York-based bookmarking site WantWorthy closed a $1 million seed funding round that included angel investment from Wharton professor Eric Bradlow, who also invested in another Penn alumni company, Invite Media, reports PandoDaily.
Benjamin Franklin Technology Partners recently invested in an unlikely place: a bakery. In Northeastern, Pa., the economic development program gave a 87-year-old Hazleton, Pa. bakery a $25,000 grant to implement computer software that would make its delivery and operations more efficient, reports The Standard Speaker.
GIVE A GLANCE
First Round Capital Partner Howard Morgan talks to Startup Grind about how “New York has surpassed Boston as a tech hub,” and his plans to invest in more companies based in Ontario.