Startups

VC Roundup: The ECI gets press, First Round “likes” last week

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. DEFINITE READS Google has purchased First Round portfolio company Like.com […]


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.
DEFINITE READS
Google has purchased First Round portfolio company Like.com for “upwards of $100 million.” If memory serves us correctly, that means that the Like.com, a visual search engine, is First Round’s biggest exit since Mint.com.
The Inky has a write up on the Energy Commercialization Institute, a joint effort between Ben Franklin Technology Partners and local universities. So far, the group has handed out just over $500,000 to local alternative energy companies. Peter Key over at the Business Journal also has a feature about the group.
While its not specific to local, all entrepreneurs should check out two posts from the national technology community. First, the “F@#% You Money” spreadsheet compiled by Tony Wright, who asserts that selling a startup to a large company is no guarantee of riches. Second, Mike Arrington’s assertion that the VC market is changing echoes what many VCs and entrepreneurs have told us privately and is a must-read.

MIGHT BE WORTH YOUR TIME
Just like you, Josh Kopelman puts his pants on one leg at a time. Except after he puts his pants on, Josh Kopelman sells companies to Google, Facebook and has friends on the cover of Entrepreneur magazine.
Xconomy Boston notices that Louis Toth, a senior managing director of Comcast Interactive Capital, is on the Board of Directors of video technology company Beaumaris Networks. Typically when a VC is on the board it signals that the firm has invested cash in the company, though there has been no word of such an investment.
GIVE A GLANCE
Sever Totia of Edison Ventures chats about the last dotcom boom and a few upcoming trends. “The DC metro area is particularly exciting, with substantially more successful companies and repeat entrepreneurs than in the past,” he tells bisnow.com. In addition to its Lawrenceville, New Jersey location, Edison also has offices in Virginia, just outside of the capital.
Safeguard Scientifics CEO Peter Boni tells thestreet.com that he thinks the tech IPO market is set to turn around. Safeguard, if you remember, is overseeing the IPO of NuPathe, a pharma company. At the very least, check out the video for the questionable use of green screen.
In case you were wondering, Eli Gassert from Yunno was the best ping pong player at DreamIt Ventures.

Companies: Yunno

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