Remember that time we assessed Philadelphia’s venture capital market and told you local early stage investors were doing well?
Well, BusinessWeek magazine surmised just as much in a well-produced profile of local venture capital firm First Round Capitol. According the the profile, First Round, located in San Francisco and West Conshohocken, has continued to invest in startups as other VC firms lay low in this recession. Because of the general pullback in investing, First Round has found itself the most active seed-stage investor. The firm has even received investments from the endowments of Yale and Princeton.
The profile details the new math behind venture capital, which is shifting from IPO and big buy-out strategies to small investments as technology costs fall. Writer Spencer E. Ante gives Philadelphia a serious nod by using Wharton grad and First Round Managing Partner Josh Kopelman as the story’s primary source.
Even if you have only a passing interest in startups and investing, the profile is worth a read over lunch for an inside look at one of the region’s heavy hitters.-30-
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