GCV launches in Philly, still looking for companies - Technical.ly Philly

Business

Apr. 19, 2010 1:00 pm

GCV launches in Philly, still looking for companies

After stopping in Austin, Texas and the 67th Ward, GoodCompany Ventures has finally come home. Last week, like they did in New York City, the socially-minded incubator gathered some of the sharpest local minds in venture capital to discuss the future of “social entrepreneurship

From Left: Jacob Gray, Len Lodish, Gil Beyada, Nate Lentz, Tom Balderson, Josh Kopelman

After stopping in Austin, Texas and the 67th Ward, GoodCompany Ventures has finally come home.

Last week, like they did in New York City, the socially-minded incubator gathered some of the sharpest local minds in venture capital to discuss the future of “social entrepreneurship” and to drum up attention for the incubator’s 2010 class, now accepting members until April 28.

Packed into the Blank Rome Conference Center, just off of Logan Square, journalists, students, investors, CEOs and entrepreneurs listened closely as the whirlwind presentations culminated into panel debate.

The result was an analysis of the local venture capital community and a spirited discussion about the merits of “social” investing.

After a presentation of portfolio companies Couchange, CalendarFly, Blox, Public Stuff as well as a quick talk by Blake Jannelle of Missioneurs the panel took center stage. Jacob Gray of Murex Investments moderated a discussion between Wharton’s Len Lodish, Genacast Ventures’ Gil Beyda, Nate Lentz of Osage Ventures, Tom Balderson of Investors Circle Philly and Josh Kopelman of First Round Capital.

The room was divided on the value of creating companies strictly for social good, as venture capitalists are traditionally viewed as strictly interested in return on investment, something GoodCompany Founder Garrett Melby often illustrates with a picture of a businessman lighting a cigar with a 20 dollar bill.

“This is no longer what venture capital is,” he said.

Most of the panelists, however generally agreed that a successful company is the one that best benefits society.

“Whatever happened to the notion of creating jobs as being good for society,” Genacast’s Bayada asked.

Advertisement

As organizations like GoodCompany, Murex Investments and Missioneurs sprout up in the city, part of the gorwing pains of the new social investment sector is finding a role within the larger investment ecosystem.

“Twitter didn’t raise money to change the world, but there they are,” Kopelman said.

STILL SEEKING COMPANIES

GCV is still seeking more applications by its April 28th deadline, even going as far as to waive the application fee to help speed up the process and prevent its office from being inundated with phone calls.

-30-
VIEW COMMENTS

Advertisement

Hands up if you’re ready to party during Philly Tech Week

Music and tech collide at the #PTW18 afterparties

Reinvestment Fund has $12.5 million to back clean-energy projects

SPONSORED

Philly

Vistar Media’s tech stack is not for the faint-of-heart

Philadelphia

Perpay

Front-End Engineer

Apply Now
Philadelphia

Perpay

Digital Marketing Manager

Apply Now
Philadelphia

Practice

Director of Sales

Apply Now

#PTW18 Dev Talks cover blockchain, machine learning, leadership and everything in between

Three venture capital disruptors will keynote #PTW18 Introduced

Linode and Indy Hall are launching a N3rd Street breakfast meetup

SPONSORED

Philly

Grow your small business with Salesforce at this Jan. 10 event

Philadelphia, PA

Linode

Senior Cloud Client Executive

Apply Now
Philadelphia

Practice (Instructure)

Senior Software Engineer

Apply Now
Philadelphia

Practice (Instructure)

Senior Software Engineer in Test

Apply Now

Sign-up for regular updates from Technical.ly

Do NOT follow this link or you will be banned from the site!