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.
Our good friends at Silicon Prarie have posted a video interview with Mark Ecko. The fashion mogul is also a partner in Artists and Instigators, the newly renamed fund of SeventySix Capital, based in Conshohocken. We’ve been told by sources that the fund plans on becoming a brand much like Ecko’s clothing line with the goal of being the “Nike for entrepreneurs.” We’ve even heard about a possible storefront in Old City.
As we reported earlier this month, DuckDuckGo has raised $3 million in its first investment round. The Valley Forge-based search engine is operated by Gabe Weinberg who also founded Founded in Philly and brought the Open Angel Forum to Philadelphia. Weinberg has all of the details about the funding on his personal blog. We highly recommend you give it a read.
Investors Circle Venture Fair, the socially-minded investing and pitch event, is coming to Philadelphia for the first time this week. The three-day event will feature pitches and, hopefully, investments in companies focusing on solving a social issue or environmental problem.
MIGHT BE WORTH YOUR TIME
GumGum, a Santa Monica-based in-image ad network, has raised $7 million in capital from First Round and others. The company reminds us of Philly’s own Solve Media which inserts ads into CAPTCHAS. First Round has also invested $1.3 million in Liftopia, a ski resort marketplace.
Mike Amrstrong of the Inquirer has the low-down on last quarter’s venture capital numberswhich basically remained flat. “I’ve pretty much given up hope of seeing an initial public offering of a Philadelphia-area company that’s as eagerly anticipated as Groupon’s,” writes Armstrong.
GIVE A GLANCE
Earlier this month we interviewed Sam Katz, local investor and former mayoral candidate.
BNI Video, a portfolio company of the new defunct Comcast Interactive Capital, was purchased by Cisco for $99 million.
As we reported last week, Ben Franklin Technology Partners has invested more than $1 million in early stage companies including TicketLeap.
First Round is also an investor in KiwiCrate, a company that ships art and crafts projects to children.
Call recording company CallCopy has received $6.5 million from Edison Ventures.
Also as we reported, DreamIt Ventures managing partner Steve Welch is running for Senate.