VC Roundup: Comcast spreads the wealth, BFTP fights for cash

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

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.

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Comcast Roundup: Agreement with CBS, ABC and Fox, the Trail Blazers object and more

Every Thursday morning at 8:30 a.m. EST, find all the stories you need to know about your friendly telecommunications giant in the Comcast Roundup. Get an e-mail subscription for our Comcast news updates.

DEFINITE READS

• Updated  7/9/10 @ 9:04 a.m.: The Los Angeles Times reports that Comcast has promised $20 million in investment capital for minority-owned businesses as a condition of its deal for NBC.
• Los Angeles Times Company Town blog reports that Comcast has reached an agreement with CBS, ABC and Fox stations over its proposed acquisition of NBC, hoping to eas regulatory approval.
• A Forbes blog speculates on why Netflix should be an $82 stock, comparing it with Comcast.
• Visiting Princeton University Law Professor Susan Crawford writes on her blog about a Comcast-NBC deal public filing from NBA’s Portland Trail Blazers, who reported the organization fears further consolidation would allow Comcast unfair control for local sports.
• The Huffington Post has a piece on net neutrality and how Comcast inspired one activist for the cause.

Below, net neutrality lobbyists, Comcast works with the Banana Republic on ‘Mad Men’ wear and more.

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VC Roundup: It’s a little too quiet.

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.

Looks like VCs take the Fourth of July off too, who would have known? We’ll skip ranking our two stories this time and hope that the cash starts flowing this week for next week’s roundup.

According to SEC filings Accolade has raised nearly $17 million from Comcast Interactive Capital and other firms. The Plymouth Meeting-based healthcare services company isn’t in Comcast’s typical investing wheelhouse, so this one has us stumped. Any ideas, dear reader? Drop us a line.

Ben Franklin Technology Partners has partnered with World Trade Club to give the organization space in its Lehigh offices. The World Trade Club is a group created by by Air Products, Mack Trucks and Bethlehem Steel to exchange business information and network, according to the Allentown Morning Call.

The VC Roundup will deliver Philadelphia private equity news hot and fresh every Tuesday morning.

VC Roundup: Edison Ventures helps Rowan, Comcast Interactive Capital gets props

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

Edison Venture Funds, based in New Jersey, is funding a Rowan University program to send engineering students to local K-12 schools to help promote engineering as a career option. Rowan University has made large investments in its engineering program recent years, propelling it to among the nation’s best.

DreamIt Ventures managing partner Steve Welsh has backed out of the race for Pennsylvania’s sixth district. “I simply believe I can do more by helping other candidates,” said Welsh in a statement posted to his website.

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Comcast Roundup: Al Franken wants money for fighting NBC deal, xfinity ad and More

Every Thursday morning at 8:30 a.m. EST, find all the stories you need to know about your friendly telecommunications giant in the Comcast Roundup. Get an e-mail subscription for our Comcast news updates.

DEFINITE READS

• The Atlantic Wire suggests that like Google Buzz is an attack on social media companies like Facebook, the search engine’s announcement that it will offer super fast broadband networks to select municipalities is an attack on telecommunications companies like Comcast.
• The Business Insider reports that Senator Al Franken used his vocal opposition to the Comcast-NBC deal to garner campaign donations.

Below, an anti-Comcast pink dragon, the first xfinity TV ad and more.

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First Round raising annex fund for existing startup portfolio

VentureWire is reporting that West Conshohocken-based angel investor First Round Capital closed on $9.74 million of $15 million for an annex fund to back its existing angel funding, according to a regulatory filing.

Investors of the reserve funding include Comcast Interactive Capital and West Conshocken-based TIFF Private Equity Partners. The annex fund will be used for existing companies in First Round’s portfolio.

First Round invests in seed-level start ups, including Mint.com, a popular online money manager, and Invite Media, a Center City-based online advertising innovator, among others.

We sure hope that the fire damage that Invite Media experienced earlier this month isn’t going to cost $9.74 million.