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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.

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 began as lead reporter at Technical.ly Philly in July 2012. Previously, she was a city services beat reporter for the Philadelphia Daily News, as part of a project called “It’s Our Money.” She is learning to drive, learning to bike (in the city) but is an expert at taking SEPTA. She grew up in North Jersey and Manila, Philippines but she left the tropics for Bryn Mawr College, where she majored in linguistics. She now lives in West Philly.

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