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.
According to Thomson Reuters, 38 venture capital firms raised nearly $2 billion in the second quarter of this year, a 49 percent decline from 2009’s numbers. The amount raised is the lowest since 2003. The uncertain economy has made it hard for firms to fundraise, said the report.
Comcast says it will be setting aside $20 million to invest in minority-owned businesses that are developing new media products. The company included the new fund, to be part of Comcast Interactive Capital, in its NBCU merger paperwork. A post on the Comcast’s blog says more news will come this fall.
MIGHT BE WORTH YOUR TIME
After having its budget cut last year, BFTP is moving to have its budget restored when the next governor is elected.
Our buddy Tom Paine reports that First Round Capital has invested in AdCopy, another local advertising company in the same league as Invite Media, though we couldn’t find many more details than that.
GIVE A GLANCE
Meidlinger Partners has joined in a $3.5 million investment of Environmental Operating Solutions, Massachusetts-based company specializes in wastewater treatment. University City-based Meidlinger specializes in investments that converse or treat water.
LLR partners has invested an undisclosed amount in Lightspeed Financial, a company that makes software for retail traders and other investors. The Inquirer’s Joe D reports that the number is $28 Million to finance Lightspeed’s acquisition of Terra Nova Financial, another software maker.