DreamIt Ventures raises $50M fund [VC Roundup] - Technical.ly Philly

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Oct. 16, 2012 8:30 am

DreamIt Ventures raises $50M fund [VC Roundup]

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 READS DreamIt Ventures is raising a $50 million 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 READS

DreamIt Ventures is raising a $50 million fund, according to an SEC filing. So far, the accelerator has raised $1.45 million. The fund will be used for follow-on financing for DreamIt companies, MedCity News reports.

First Round Capital participated in a $6 million round for UrbanSitter, a San Francisco-based service for parents to find babysitters, TechCrunch reports. First Round also launched HackPR, a product to connect journalists and startups, we reported last week.

GIVE A GLANCE

Former Daily News editor Larry Platt again gives nods to local venture capitalists in his Philadelphia Inquirer column. This week, he writes about Wayne Kimmel‘s Conshohocken firm Artists & Instigators and its recent partnership with “hip-hop fashion icon and entrepreneur” Mark Ecko.

Safeguard Scientifics says “aggregate revenue for its partner companies will be in the range of $185 million to $190 million,” the Philadelphia Inquirer reports. The firm also led a Series C round of financing for Exton, Pa.-based ThingWorx, according to a release.

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King of Prussia clinical payment technology company Greenphire has raised $4.3 million, according to an SEC filing.

MIGHT BE WORTH YOUR TIME

Edison Ventures sold Wayne, Pa.-based Octagon Research Solutions to Accenture for an undisclosed sum, PEHub reports.

Comcast Ventures helped judge a health IT startup showcase thrown by Morgenthaler Ventures and Health 2.0, TechCrunch reports.

Governor Tom Corbett visits Benjamin Franklin Technology Partners’ TechVentures incubator, Keystone Edge reports.

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Juliana Reyes

Juliana Reyes has been covering the Philadelphia tech scene since 2012. She's co-president of the Asian American Journalists Association Philadelphia chapter and a two-time Philadelphia News Award winner for "Community Reporting of the Year." The Bryn Mawr College grad lives in West Philly, likes her food spicy and wears jumpsuits often.

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