VentureWire is reporting that West Conshohocken-based angel investor First Round Capital closed on $9.74 million of $15 million for an annex fund to back its existing angel funding, according to a regulatory filing.
Investors of the reserve funding include Comcast Interactive Capital and West Conshocken-based TIFF Private Equity Partners. The annex fund will be used for existing companies in First Round’s portfolio.
First Round invests in seed-level start ups, including Mint.com, a popular online money manager, and Invite Media, a Center City-based online advertising innovator, among others.
We sure hope that the fire damage that Invite Media experienced earlier this month isn’t going to cost $9.74 million.
First Round raising annex fund for existing startup portfolio
