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.
DEFINITE READS
Remember when Safeguard Scientifics sold Clarient Technologies? It turns out that the company netted $144 million from the deal. According to the press release the deal gave Safeguard a debt-to-equity ratio of three-to-one. Safeguard also announced that it received a 3X return on its sale of Avid Pharmaceuticals.
Next time you hear someone complain about lack of capital in the Philadelphia region, tell them about Treventis Corp, a Canadian biotech company that established offices in Philadelphia “where it is hoping to have greater access to American venture capital.” The credit here, of course, goes to Cliff Lee.
MIGHT BE WORTH YOUR TIME
Who says the IPO is dead? Edison Ventures’ GAIN Capital has recently begun trading on the New York Stock Exchange. According to the press release, Edison still owns 13 percent of the company and the firm realized an 18X return on securities sold.
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