VCs invest $2.1 billion in Q2, up 16 percent since Q2 last year [VC Roundup]

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 READS

Venture capital investing in Q2 has grown by 16 percent since the same period last year, Reuters reports, with $2.1 billion invested in 118 startups nationally. First Round Capital is mentioned as one of the “traditional venture capital firms” that made up the bulk of the deals.

How can Philly become a leader in health IT and life sciences? Safeguard Scientifics’ managing director James Datin has some ideas, as Med City News reports. Datin says the city needs to expand its tax incentives and allocate state funds for startups, among other things.

GIVE A GLANCE

Comcast Ventures participated in a $13 million round for Tely Labs, a Menlo Park, Calif. company offering Skype calling on your TV, VentureBeat reports.

First Round Capital made several local announcements in the past week, including its $500,000 “Dorm Room Fund” for college startups, which we reported yesterday. The fund also held an opening reception for its new University City headquarters and announced its participation in a $1 million seed round for new Philly startup Perceptual Networks.

MIGHT BE WORTH YOUR TIME

Current DreamIt Ventures company PeerActive, the first Australian startup to enter the program, is featured in a piece about how to get into a U.S. accelerator on StartupSmart.