VC Roundup: BFTP invests in 5, Venmo gets funded - Technical.ly Philly

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Mar. 9, 2010 9:00 am

VC Roundup: BFTP invests in 5, Venmo gets funded

Welcome to the VC 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. DEFINITE READS Ben Franklin Technology Partners has invested $800,000 in […]

Welcome to the VC 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.

DEFINITE READS

Ben Franklin Technology Partners has invested $800,000 in five locally-based companies. Three of the companies (Aklero, EyeIC and Jenrin) are getting their second round of funding from BFTP, while Glastone Associates and Quantason are receiving thief first round of funding. The companies are in the medical and financial industries.

MIGHT BE WORTH YOUR TIME

Super-stealthy mobile payment startup Venmo has just closed its first round of funding. According to All Things Digital, the company netted between $300,000 and $400,000. The company is now in private beta.

The national VC community is banking on clean tech being the next big thing. The survey of VCs predicts that the west coast VCs “would dominate” future clean tech funding. We, for one, are all about a bi-coastal VC war.

GIVE A GLANCE

Old City-based TenX Biopharma has raised $5.5 million, largely from foreign investors. The company’s main product is a “fully human monoclonal anti-CD4.” We’d be lying if we said we knew what that means.

FIRST ROUND INVESTMENT OF THE WEEK

Because rarely a week goes by with out a First Round investment…

First Round has invested an undisclosed amount in DoubleVerify. First round had also invested in the ad verification company’s Series A round.

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The VC Roundup will deliver Philadelphia private equity news hot and fresh every Tuesday morning.

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