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.
Local accelerator DreamIt Ventures was named #11 on a list of the top 15 accelerators in the country, compiled by a researcher from Northwestern University and the director of Texas venture capital firm DFJ Mercury, reported Tech Cocktail, a media partner on the study. Learn more about the methodology for the rankings here.
DreamIt Ventures, which has programs in New York, Israel and now, Austin, will kick off its Philadelphia cycle next week. Here’s a peek at Betterific, one of the startups chosen to participate in the class, as featured on Tech Cocktail. Betterific, based in Washington, D.C., uses Reddit-like social voting to deliver customer feedback to brands.
GIVE A GLANCE
Robin Hood Ventures, the angel investor group based out of the University City Science Center, participated in a $625,000 debt financing of OneTwoSee, the local startup that creates companion TV programming for mobile devices, the Philadelphia Business Journal reported. Benjamin Franklin Technology Partners of Southeastern Pennsylvania and the Mid-Atlantic Angel Group also participated.
MIGHT BE WORTH YOUR TIME
BARD Holding, Inc., a Bucks County-based company that’s developing a system to cultivate algae for its use as fuel, raised at least $1 million, according to an SEC filing.
Radnor pharmaceutical company Novira Therapeutics raised $23 million in series A funding for the development of antiviral drugs, according to the Philadelphia Business Journal. Mid-Atlantic Angel Group and Robin Hood Ventures, among other firms, participated in the round.
Benjamin Franklin Technology Partners invested $250,000 in Drakontas, the Glenside-based company that develops software for public safety operations, Keystone Edge reported. The particular Drakontas program in which BFTP invested originated at Drexel University, a program Technically Philly covered in December.
First Round Capital increases its fund by $158 million [VC Roundup]
Safeguard Scientifics sees lower valuations, bigger 3Q loss [VC Roundup]
DreamIt Ventures raises $50M fund [VC Roundup]
How ShopRunner’s mentorship program is pushing its employees to think beyond their fields
BFTP adds new manager for Project Liberty Digital Incubator [VC Roundup]
Intact Vascular in Wayne raises $15.5M from Quaker Ventures, others [VC Roundup]
First Round Capital closes $135 million fund, Audience Partners and Agilence raise private equity rounds [VC Roundup]
How Relay is helping enterprise clients get proactive about customer engagement
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