VC Roundup: MAC and ETC merge, MindSnacks accepted into DreamIt

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.
DEFINITE READS
Peter Key reports that the Eastern Technology Council and MAC alliance are merging. Both organizations focus on connecting business owners with investors. Dean Miller, managing director at Novitas Capital will be the new organization’s CEO. The new organization will reveil its name June 3rd, during the MAC Alliance Awards Luncheon as reported in Key’s followup post.
Either someone is lying, or DreamIt Ventures has started to notify companies that have been accepted in the program’s Summer 2010 class. MindSnacks, a social game dev shop, claims it has been accepted to the University City-based incubator and has posted that it is looking for a “generalist developer” to possibly serve as a co-founder. A social media search by Technically Philly revealed no other companies coming forward.

MIGHT BE WORTH YOUR TIME
In national news, TechCrunch points to two reports that indicate exit activity is on the rise. Not doing anyone any favors, the report was release on April Fools Day.
GIVE A GLANCE
NewSpring Ventures has invested in Message Systems, a company that offers bulk email management applications. The company will only say that it has raised a “significant round of funding.”
Joey D of the Inky points out that Tengion Inc.’s new IPO could net Quaker BioVentures some cash. The fund has an eight percent stake in the pharma company.