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.
Updated 11/6/12 10:01 a.m. to correct headline, which had a factually incorrect typographical error that read “First Round Capital raises a $1.57 million fund.”
Lots of news coming out of First Round Capital this week: First off, the firm is increasing its existing fund by $158 million, according to an SEC filing, and has already raised nearly $150 million of it. It also added a new partner in its San Francisco office: entrepreneur and investor Bill Trenchard. Read more about him on managing partner Josh Kopelman‘s blog. First Round also redesigned its website. Take a little tour on Kopelman’s blog and check out here.
The firm also participated in a $2.5 million round for New York City-based Rebel Mouse, a social aggregation startup, PandoDaily reports, as well as a high-profile $25 million round for Flurry, the San Francisco-based app analytics and advertising firm, GigaOM reports.
Don’t miss the news about the city’s social incubation initiative with GoodCompany Group. The project has made the top 20 finalists of Bloomberg Philanthropies‘ $5 million Mayors Challenge. Winners will be announced spring 2013.
GIVE A GLANCE
Catch a clip of First Round’s Josh Kopelman on Bloomberg TV, as posted by Philly Tech News. He talks about recent First Round investments, his new Dorm Room Fund and the state of startup fundraising today.
MIGHT BE WORTH YOUR TIME
Some local VCs will be at New York City’s Vator Splash startup showcase in December, according to a release, including Chris Fralic of First Round Capital and Michael Aronson of MentorTech Ventures and Gil Beyda of Genacast Ventures.
Safeguard Scientifics sees lower valuations, bigger 3Q loss [VC Roundup]
DreamIt Ventures raises $50M fund [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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