VC Roundup: First Round raises $126 mil, Philly VC investment is up

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.

Edit: Corrected the amount of Seatgeek’s round.

DEFINITE READS

While Q3 VC investment was down nationally, it was all rosey here in Philadelphia. According to the PricewaterhouseCoopers Money Tree report, there were 31 deals totaling $136.3 million involving companies in the area.

It looks like First Round Capital is finished raising its third fund. Astute SEC watchers have noticed that First Round Capital III is estimated to be somewhere around $126 million. The firm has had several nine-figure exits, and has backed nearly 100 startups, according to PE Hub. The firm celebrated the new fund the only way it knows how: by investing in FREEjit and UberCab.

MIGHT BE WORTH YOUR TIME

DreamIt grads SeatGeek have raised a round of $550,000 from a handful of out-of-town VCs. If you remember, the founders of SeatGeek started out as Scribnia before selling the site midway through their time at DreamIt. We interviewed the then-Scribnia founders last year. The company, now based in the 67th Ward, is a ticket search engine and price forecaster that helps its users find the cheapest tickets.

Comcast Interactive Capital is among the investors in CarWoo, a Lending Tree-like service for automobile purchases. The San Francisco-based company raised a $4.5 million round and is a Y Combinator grad.

GIVE A GLANCE

Burrill & Company, a San Francisco-based life sciences company that dabbles in VC, is opening up a new “Alternative Equities Group” here in Philly. It appears we’ve finally reversed the flow of money from Philly to San Francisco. Good job, everyone.