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.
DreamIt Ventures is raising a $50 million fund, according to an SEC filing. So far, the accelerator has raised $1.45 million. The fund will be used for follow-on financing for DreamIt companies, MedCity News reports.
First Round Capital participated in a $6 million round for UrbanSitter, a San Francisco-based service for parents to find babysitters, TechCrunch reports. First Round also launched HackPR, a product to connect journalists and startups, we reported last week.
GIVE A GLANCE
Former Daily News editor Larry Platt again gives nods to local venture capitalists in his Philadelphia Inquirer column. This week, he writes about Wayne Kimmel‘s Conshohocken firm Artists & Instigators and its recent partnership with “hip-hop fashion icon and entrepreneur” Mark Ecko.
Safeguard Scientifics says “aggregate revenue for its partner companies will be in the range of $185 million to $190 million,” the Philadelphia Inquirer reports. The firm also led a Series C round of financing for Exton, Pa.-based ThingWorx, according to a release.
MIGHT BE WORTH YOUR TIME
First Round Capital increases its fund by $158 million [VC Roundup]
Safeguard Scientifics sees lower valuations, bigger 3Q loss [VC Roundup]
Benjamin Franklin Technology Partners invests $260k in the Lehigh Valley [VC Roundup]
BFTP adds new manager for Project Liberty Digital Incubator [VC Roundup]
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