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.
Edit: Corrected source of Yodle funding.
BFTP has announced its New Energy Plan, a contest awarding $35,000 to entrepreneurs looking to start a clean energy-oriented company. The contest deadline is April 15th, like your taxes.
First Round Capital has created an exchange fund for entrepreneurs. The fund allows portfolio companies to give up a piece of ownership in their own company for a tiny share of ownership in all First Round companies. Got that?
The Brookings Institution has released a report saying the state’s VC market is too small. “There are more things [the state] could do that wouldn’t impact the budget,” it says, citing BFTP as a step in the right direction.
MIGHT BE WORTH YOUR TIME
The Angel Venture Fair deadline is this week. The April event looks to gather 100 investors and 30 entrepreneurs at the Union League to help make investment connections. Fellas, we hear online media startups covering technology are hot. Just sayin’.
Blogging VC Fred Wilson reveals how he figures out ROI on his portfolio companies. “A restaurant may have a few good years but then lose its clientele and go out of business,” he writes. “A media product might do well for a decade but then lose its way and fold.” Here’s to a decade of Technically Philly, before we flame out and end up on True Hollywood Story.
GIVE A GLANCE
The state has allocated $5.7 million for nanotech investments through BFTP and the Pennsylvania Initiative for Nanotechnology.
According to a report by NVCA, 10-year returns have dipped in recent years, dropping from 14.3 percent from 8.4 percent. The report blames the fact that lucrative dot-com bubble investments are no longer included.
The MoneyTree Report has released a more detailed Q4 report.
MentorTech Ventures backed local advertising company Yodle has raised a $10 million in a Series D round. However, MentorTech was not included in the latest funding round, led by JAFCO Ventures.
Keystone Edge has a Q&A with Matt Bieber of Originate Ventures. We noted that 25-year-old Bieber got a promotion in last month’s roundup.
Knowledge is power!
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