Welcome to our brand new weekly round-up, 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 or corner us at our next meetup.
The National Venture Capital Association has published its yearly “exit poll” tracking VC-funded company exits. IPOs were higher in 2009 in year-over-year numbers, but M&A activity declined slightly. Both metrics are still lower than pre-recession numbers.
Boston-based DreamIt Ventures grad SCVNGR has just received $4 million from Google Ventures. The company, makers of location-based gaming platforms, is profitable with over $1 million in revenue in its first year.
After the jump, the passing of a local VC leader and the firm that is touring New York City incubator spaces as if it were on a pub crawl.
MIGHT BE WORTH YOUR TIME
First Round Capital will be touring New York – pardon us, we mean the 67th Ward -today with stops at eight popular incubator spaces in the city. TP will be at Rose Tech Ventures in Flatiron District to say hello.
First Round portfolio company Pinch Media will be merging with Flurry. Both companies offer mobile application analytics services. The new company will maintain offices in New York and San Francisco.
PBJ reports that Ian Berg, co-founder of Eastern Technology Fund Ventures, died late last month. He was 68. Berg was an Overbrook grad who founded Mount Laurel-based Copelco Financial Services Group and later went on to teach at Drexel.
GIVE A GLANCE
Philly-based VC lawyer Christopher McDemus writes the most common 15 mistakes made by startups.
The VC Roundup will deliver Philadelphia private equity news hot and fresh every Tuesday morning.