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.
Here’s what First Round Capital has been up to recently: The firm participated in a $1.45 million round for San Francisco-based Mango Health, a startup that builds health-centric mobile apps, reported VentureBeat. It also participated in a $2.5 million round for Artillery, a Silicon Valley startup that aims to make “the browser the console,” reported TechCrunch. First Round also invested in Instacanvas, helping to lead a $1.7 million round for the Los Angeles-based Instragram print shop, VentureBeat reported.
MIGHT BE WORTH YOUR TIME
The state-funded Benjamin Franklin Technology Partners made two recent funding announcements.
Benjamin Franklin Technology Partners of Northeastern Pennsylvania invested $560,000 in a dozen startups in Lehigh Valley and beyond, reports the Allentown Morning Call. Biotech and clean energy companies were the big winners in this round, according to a press release.
Ben Franklin Venture Investment Forum and Ben Franklin Technology Partners of Central and Northern Pennsylvania named a winner for its $50,000 BIG IDEA Business Plan Contest, Keystone Edge reported. The award went to Advanced Insurance Products & Services, an Erie-based auto insurance tech company.
GreenLight Fund, a firm that funds nonprofits with a “venture capital approach” and launched in Philly earlier this year, just won a $2 million federal grant, we reported last week. Check out Newsworks’ coverage here.
GIVE A GLANCE
DreamIt Ventures hosts its New York City cycle’s Demo Day this Wednesday. RSVP here. The accelerator’s Philly class launches the first week of September, so we should be hearing about the chosen startups soon.