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	<title>Technically Philly &#187; Petra Energy</title>
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		<title>VC Roundup: Is VC ready for its turnaround?</title>
		<link>http://technicallyphilly.com/2010/02/09/vc-roundup-is-vc-ready-for-its-turnaround</link>
		<comments>http://technicallyphilly.com/2010/02/09/vc-roundup-is-vc-ready-for-its-turnaround#comments</comments>
		<pubDate>Tue, 09 Feb 2010 15:00:02 +0000</pubDate>
		<dc:creator>Sean Blanda</dc:creator>
				<category><![CDATA[Venture Capital]]></category>
		<category><![CDATA[DreamIt Ventures]]></category>
		<category><![CDATA[First Round Capital]]></category>
		<category><![CDATA[Mike Levinson]]></category>
		<category><![CDATA[Murex Investments]]></category>
		<category><![CDATA[NextStage Captial]]></category>
		<category><![CDATA[Osage Ventures]]></category>
		<category><![CDATA[Petra Energy]]></category>
		<category><![CDATA[Wizhive]]></category>

		<guid isPermaLink="false">http://technicallyphilly.com/?p=8570</guid>
		<description><![CDATA[Welcome to the VC Round-up, where we&#8217;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 the VCs assembled in New Jersey [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignnone" title="VC Roundup" src="http://technicallyphilly.com/wp-content/uploads/2010/02/vcroundup.gif" alt="" width="420" height="127" /></p>
<p><em>Welcome to the VC Round-up, where we&#8217;ll parse through venture capital news related to Philadelphia-based private equity firms and the companies they fund. Subscribe to the roundup <a href="http://feedburner.google.com/fb/a/mailverify?uri=TechnicallyPhillyVentureCapital&amp;loc=en_US">as an email newsletter</a></em><em>. If you have any VC-related news to pass along to us, please <a href="http://www.technicallyphilly.com/contact">drop us a line</a>.</em></p>
<p><strong>DEFINITE READS</strong></p>
<p>According to the VCs <a href="http://www.nj.com/news/times/regional/index.ssf?/base/news-19/126526593316970.xml&amp;coll=5">assembled in New Jersey for the New Jersey Technology Council conference</a>, VC activity is primed to heat up in the coming months. Bala Cynwyd-based Osage Partners was among the local firms in attendance. &#8220;If you can survive the last three years, then you have something,&#8221; said one attendee.</p>
<p>Ben Franklin Technology Partner has <a href="http://nep.benfranklin.org/bftp-news/ben-franklin-to-invest-599800-in-regional-technology-based-economic-development">anounced nearly $600,000 in investment</a>, including $50,000 going to Viddler. If you remember, Viddler <a href="http://technicallyphilly.com/2009/10/28/shop-talk-viddler-takes-care-of-business">told us in October</a>: &#8220;We&#8217;re done funding.&#8221;</p>
<p><span id="more-8570"></span></p>
<p><strong>MIGHT BE WORTH YOUR TIME</strong></p>
<p>South Plainfield-based Petra Energy has <a href="http://www.philly.com/inquirer/breaking/business_breaking/83659782.html">raised $40 million to hire 30 employees</a>. None of the funding sources were local. The company makes solar panels for utility poles.</p>
<p>Thanks to their love of blogging and their penchant for making a new deal every 15 minutes, First Round Capital is the <a href="http://blogs.wsj.com/venturecapital/2010/02/02/venture-capitals-most-trafficked-web-sites/">most trafficked VC website in the country</a>. No other local firms made the list.<br />
<strong><br />
GIVE A GLANCE</strong></p>
<p>NestStage Capital has <a href="http://eu.techcrunch.com/2010/02/02/e-cuisine-site-restoin-wins-e2-million-to-expand/">gone intercontinental and invested 2 million ($2.75 million)</a> in the French company Resto in. The startup allows users to order restaurant-quality food online. Though, being Europe and all, it is still unclear whether you tip the delivery boy.</p>
<p>And now for the most low-tech VC deal you&#8217;ll ever see: Pret-Mose <a href="http://philly.citybizlist.com/lstg/lstgDetail.aspx?id=4602">has raised $20 million</a>, led by locally-based Murex Investments, to purchase Hitcharama Recreational Vehicles of Turnersville, NJ. We can only hope it is to use the RVs to film a road trip reality show.</p>
<p>Osage Ventures <a href="http://boston.bizjournals.com/boston/stories/2010/01/25/daily49.html">travels north to Boston</a> and adds to its current investment of Landslide Technologies. The company, which develops business software, also hired a new CEO.</p>
<p>DreamIt and Wizhive co-founder Mike Levinson is <a href="http://jobview.monster.com/GetJob.aspx?JobID=85917702&amp;from=indeed">going public</a> in his search for talent. Levinson has posted to Monster.com his need of &#8220;bright, creative, rising stars.&#8221;</p>
<p><em>The VC Roundup will deliver Philadelphia private equity news hot and fresh every Tuesday morning.</em></p>
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