Software Development

Shop Talk: A detailed look at Philly’s Q2 venture capital numbers

In our last post about VC numbers, we told you, fair reader, that no region experienced growth like Philadelphia. Though to be clear, that growth was mostly because of three mega deals. We also told you that more detailed numbers were expected from PricewaterhouseCoopers on August 3rd. Well, we would never leave you hanging. We […]

image003
In our last post about VC numbers, we told you, fair reader, that no region experienced growth like Philadelphia. Though to be clear, that growth was mostly because of three mega deals. We also told you that more detailed numbers were expected from PricewaterhouseCoopers on August 3rd.
Well, we would never leave you hanging.
We dove into the numbers and pulled out the important parts, such as which Philly firms were busiest this quarter, the Philadelphia companies receiving the most investment and what industry received the most attention.
Follow past the jump for your quarterly dose of our regions venture capital activity.

PHILLY VC MARKET = TOP HEAVY

As mentioned last week, the Phoenix Services deal for $50 million dramatically affects the numbers, as half of all money invested in the region went to the top three deals. For comparison, the top three deals in Silicon Valley were 15 percent of the total. Similarly to our region, the top three deals in San Diego, which had exactly the same number as Philly, were 56 percent of their total.

FIRST ROUND LEADS LOCAL VC’s

In terms of the amount of deals, First Round Capital is the area’s leader. Though this may be a bit unfair as First Round specializes in early-state and seed investing. It is difficult to assume what firms invested the most dollars, as many investments involve multiple firms and rarely are exact investments disclosed.
Keep in mind that PricewaterhousCoopers’ report tends to define “The Philadelphia Metro” area� slightly more liberally than we might at Technically Philly. So some Central New Jersey and Harrisburg firms are in the mix.
Philadelphia firms with most deals:

  1. First Round Capital – 11
  2. Domain Associates – 8
  3. TL Ventures – 7
  4. BFTP – 6
  5. ProQuest Investments – 4
  6. S.R. One – 3
  7. Quaker BioVentures – 2
  8. Edison Venture Fund – 2
  9. Comcast Interactive Capital – 2
  10. Cardinal Partners – 1
  11. EnerTech Capital – 1
  12. Element Partners – 1
  13. New Jersey Economic Development Authority – 1
  14. Life Sciences Greenhouse of Central Pennsylvania – 1

BIOTECH LEADS THE WAY

Once again, biotechnology investments lead the way, accounting for 43 percent of all activity in the metro area. If your barometer for success is simply the number of deals, then software companies lead the way with seven.
Philadelphia companies receiving the most investment (not necessarily from Philly firms, all numbers in dollars)

  1. Phoenix Services / Industrial – $50M
  2. VaxInnate / Biotech – 30M
  3. Avid Radiopharmaceuticals / Biotech – 28.5M
  4. Trevena / Biotech – 11M
  5. Sierra Education Finance Corporation / Finance – 10.5M
  6. Sanovia / Software – 8.185M
  7. Embrella Cardiovascular / Medical – 5.1M
  8. Ophthotech Corporation / Medical – 4.72M
  9. Tangent Energy Solutions / Industry – 2M
  10. SevOne / Software – 2M
  11. Finite Carbon Corporation / Industry – 2M
  12. Collections Marketing Center / Software – 2M
  13. Neotropix / Biotech – 1.4M
  14. mVisum / Software – 1.25M
  15. IntegriChain / Software – 1M
  16. SPHN Holdings / Biotech – 783K
  17. Agilence, Inc. / Electronics – 500K
  18. Quiq / Software – 200K
  19. RealWinWin / Finance – 150K
  20. PivotPoint Software / Media and Entertainment – 150K
  21. Life Management Advisor / Software – 100K
  22. E-Duction, Inc / Finance – 271K

Philadelphia has rebounded nicely form only seeing thirteen deals in Q1 for $31 million. This quarter’s rebound of 22 deals for $162 million largely mirrors the rest of the country. Though it remains to be seen whether the upward trend will continue to Philly’s pre-recession numbers, which often saw 30-plus deals a quarter.
Every Wednesday, Shop Talk shows you what goes into a tech product, organization or business in the Philadelphia region. See others here.

Companies: Ben Franklin Technology Partners / Edison Partners / First Round Capital / Quaker Partners / TL Ventures

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

SEPTA riders complain of more bus cancellations. Here’s why that’s a good thing for Philly transit.

How an experienced entrepreneur learned ‘every facet of business’ by challenging herself

What a second Trump administration means for local startup ecosystems

Discuss how AI is impacting media (and the election too)

Technically Media