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.
MUST READ
Investor’s Circle, an angel network that uses private capital to support companies addressing social and environmental issues, is holding its venture fair from Oct 26-28 in Philadelphia. Ten to fifteen companies will present. This is the first time the event in Philadelphia and organizers have told Technically Philly that this is, in part, due to the city’s rising profile in the social enterprise space. Socially-focused incubator Good Company Ventures is now in its third class and Murex Investments and B-corp are also based in or around Philadelphia. In the past, IC has invested in PublicStuff, a Good Company, um, company.
Wharton has launched an innovation fund to help fund projects from students, staff and alumni. Alberto Vitale, a Wharton alum and former CEO of Random House has provided the first $125,000 of the fund. Recipients of the fund maintain intellectual property rights unless they use IP owned by the school.
MIGHT BE WORTH YOUR TIME
NewSpring Ventures portfolio company NitroSecurity has exited to McAfee. The terms of the deal were not disclosed.
According to a press release, the Navy Yard-based Greater Philadelphia Innovation Cluster (GPIC) has awarded $1.3 million to seven projects focused on sustainability. We’ve covered GPIC here. Read a Q&A with GPIC policy arm head Mark Alan Hughes here.
According to SEC filings, UniRisX has raised just over $1 million. The company makes SaaS insurance software and is oddly based at the airport according to the filings.
First Round Capital is among the investors named in LiveIntent’s $8 million Series B round. The company helps customize advertising in emails at the individual level.
Comcast Ventures has joined Google in its investment in the $11 million Series A round of Enterproid, a New York-based mobile enterprise company. The company helps employees securely use their personal devices at work.
GIVE A GLANCE
Ben Franklin Technology Partners was honored with a “Local Venture Impact Award” by Philadelphia Business Journal.
Portfolio drops a mention of DreamIt Ventures portfolio company Take the Interview in a story about startups that are trying to make the hiring process easier.
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