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.
According to data release by the National Venture Capital Association, Q2 venture capital investment is down in the Philadelphia area. However 2011 is on pace to be a more active year for the region than 2010. The Philadelphia Business Journal’s Peter Key has the details.
Ben Franklin Technology Partners and DreamIt Ventures were both named to Inc. Magazine’s “10 startup incubators to watch” list. Both have been particularly active lately: DreamIt Ventures just capped off a Summer class in New York City and is preparing to announce its latest round of Philadelphia companies shortly. Both companies are involved in the Philadelphia Media Network’s new media-focused incubator.
MIGHT BE WORTH YOUR TIME
Frist Round Capital’s Chris Fralic congratulates MyYearbook on its recent exit and mentions that it was one of the first investments he’s ever been involved in when he walked into the company’s offices and began asking questions.
GIVE A GLANCE
NewSpring Capital is among the investors in XOS Technologies, a sports digital media company.
LifeShield, based in Yardley, has raised even more funds since its SEC filing we reported on in May bringing the total to $8 million. Frist Round Capital, Novitas Capital and NewSpring Ventures are among the local firms listed as the home security company’s most recent investment round.
MentorTech Ventures is among the firms listed as investors in SeniorHomes.com, an online nursing home directory that raised $3 million this week.