Welcome to the VC Round-up, 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.
Comcast Interactive Capital has been renamed “Comcast Ventures” in the wake of the cable giant’s merger with NBCUniversal. NBC’s Peacock Equity Fund will be rolled into the new fund.
Safeguard Scientifics continues its winning streak with its third exit in the past six months as parter company Advanced BioHealing has been acquired by Shire for $750 million in straight cash homey. According to the press release Safeguard looks to receive $140 million from the transaction.
MIGHT BE WORTH YOUR TIME
First Round Capital’s Chris Fralic sat down with AdExchanger.com and name-dropped Ignite Media, the real-time advertising ad exchange company started by Penn students that sold to Google. Fralic also echoes what we’ve been hearing for weeks: It’s the best time to start a business, as capital is flush.
Malvern-based TetraLogic Pharmaceuticals has raised $6 million. The company has raised $43 million this year as the company completed clinical studies on its cancer drug.
Eric Arnson of Originate Ventures was named in an SEC filing yesterday for South49 Solutions, a Virginia-based software developer.
GIVE A GLANCE
First Round Capital has invested in OpenX, the open source ad management system.
According to the Webtalk Twitter account, the yet-to-be-launched site has raised $250,000 from First Round Capital and other investors. A previous tweet put the number at $100,000. The site, based in Tampa and Palo Alto, aims to provide a social and professional online community.
In case you missed it, we sat down with Rob Weber – founder of Robin Hood Ventures – as we chatted about his latest venture and why he chose not to take a large amount of venture funding.