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 grad SCVNGR continues its path to world domination, netting $15 from an English venture capital firm. According to the Inky’s Joey D, that puts the market value of the company in the mid-tens of millions. The new round makes the company, which also received investment from Google, the undisputed king of Dreamit alumni.
GIVE A GLANCE
After a year of several exits and an IPO in 2010, Edison Ventures has promoted Michael Kopelman and Tom Vander Schaaff to Partner and Lenard Marcus to Principal.
Malvern-based TetraLogic Pharmaceuticals has raised a Series C round of $23 million. The company, which makes cancer medication, raised the funds from a number of funds, including locals Novitas Capital and Quaker BioVentures.
MIGHT BE WORTH YOUR TIME
First Round Capital was among the firms listed in an $1.8 million round for PHP Fog, a Portland-based startup that helps developers deploy web apps.
Group texting service GroupMe has received $10.6 million in Series B money from several firms including First Round Capital. First Round was an inital investor in the company, which debuted at TechCrunch’s Disrupt event.
Comcast Interactive Capital portfolio company Cedar Point Communications has been acquired by Genband Inc. for an undisclosed amount.
Guggenheim Venture has invested an undisclosed amount in hybrid car maker DesignLine. Corp.