VC Roundup: NuPathe IPO, no more DreamIt Ventures

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

Later today, look out for the emerging details about Philly Mag’s story on Guggenheim Ventures.

Technically Philly wasn’t the only publication to write about DreamIt Demo Day, a handful of other publications also weighed in. In a guest post by DreamIt partner Mike Levinson, TechCrunch takes a very black and white approach offering short paragraphs about every company. PhillyInc looks at DreamIt in perspective of the larger economic climate and the Philadelphia Business Journal focuses more on Startl’s relationship with DreamIt. Of course, you can always look at our three-post Demo Day preview series, our awards post for Demo Day and our collection of videos and pictures from the big day. The DreamIt companies are packing up a leaving the Science Center this week.

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Startup Roundup: Comcast applies for patent to halt ad fast-forwarding, Duck Duck Go to accept sponsorship

Introducing Technically Philly’s Startup Roundup. Here, we’ll parse out the small pieces that make our greater Startup ecosystem thrive. We want to keep you in touch with the innovations that we can’t quite get to covering, but that deserve highlight. Follow along with the Startup Roundup’s dedicated RSS feed. If you’ve got news to share, get in touch.

DEFINITE READS

Radnor’s Guideworks, a joint venture of Comcast and TV Guide, which maintains Comcast’s interactive programming grid—likely one of your daily-used UIs—has applied for a patent that will display “substitute media” when you fast forward through an advertisement. That’s right folks; your Comcast ad-skipping days will soon be coming to a close.

Viddler has opened its HTML5 beta, timed with some hot press from USA Today to boot. Like our coverage of Fishtown design shop WellFed last week, Viddler’s another local company effected by Steve Job’s anti-Adobe-ism, if that was a word.

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VC Roundup: Diapers.com takes over the world, DreamIt’s largest class ever

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Updated: Clarified Osage Ventures partnerships.

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

PBJ reports that this year’s DreamIt Ventures class of 15 is its largest yet, thanks to a partnership with Brooklyn-based Startl. Five of the fifteen were from the New York fund. Last year Dreamit had 11 companies. Our buddy Peter Key also writes that Steve Barsh will be leaving the incubator to focus on Packlate.com. In a recent interview with Technically Philly, Barsh said he plans on “dedicating ten percent” to the incubator.

Diapers.com is having a hell of a month. The company just finished raising its Series E (!) round to help speed along its already-breakneck growth. The company, originally backed by MentorTech Ventures, is the largest online provider of baby care items in the country. The company has also recently received press in Forbes, TechCrunch and the Financial Times. Fellas, you can now add Technically Philly to your list. You’re welcome.

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Startup Roundup: It’s a great time for startups in Philly (even if you’ve been at it for 30 years)

Introducing Technically Philly’s Startup Roundup. Here, we’ll parse out the small pieces that make our greater Startup ecosystem thrive. We want to keep you in touch with the innovations that we can’t quite get to covering, but that deserve highlight. Follow along with the Startup Roundup’s dedicated RSS feed. If you’ve got news to share, get in touch.

DEFINITE READS

Philadelphia Business Journal‘s Tech biz reporter Peter Key has asked several Philadelphia tech experts if it’s a good time to launch a startup in Philly. Valerie Gaydos of Private Investors Forum, Ravi Ganesan of Core Solutions Inc., Stephen M. Goodman of Morgan Lewis & Bockius and David Bookspan of DreamIT Ventures were unequivocally supportive.

Though it’ll be a challenge in the recession, if you can prove yourself now, you can prove yourself always. As Bookspan puts it: “Resources are cheap, talent is available, and a lot of funding is poised to start coming off the sidelines and back onto the field.”

And uhm, it’s still a good time, even if you began your startup 30 years ago. Lesson: Keep your head up. For a damn long time.

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Venture Capital: BFTP wants to give you money, a new fund in Bala Cynwyd?

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.

Programming note: We skipped last week due to some technical troubles.

Update: looks like Franklin Park isn’t a straight VC fund.

DEFINITE READS

Ben Franklin Technology Partners is looking to award cash to clean energy companies that employ less than 500 people. The money comes from the federal government and companies must match the funds, which can be as high as $50,000. A notice of intent to apply must be filed by April 7th.

(see update, above) According to SEC filings, Bala Cynwyd-based Franklin Park Venture Fund has raised $50 million. We couldn’t find evidence of preexisting activity from these guys, so drop a comment a if you know anything.

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MAC Alliance CEO Thomas Balderston steps down

Thomas Balderston

According to Peter Key over at the Philadelphia Business Journal, Thomas M. Balderston has resigned his post as the Chief Executive of the Mid Atlantic Capital Alliance.

The MAC alliance is an affiliate of the city’s Chamber of Commerce that works to link up entrepreneurs and those with capital in our area. The group regularly hosts events for local business owners and investors.

Balderston made the move known at the group’s annual awards luncheon last Thursday, presumably making the move to focus on his own fund at King of Prussia-based Balderston Capital that he started in 2001.

The move is a big deal for the MAC Alliance, and is its first change in CEO since the group widened its coverage area. When Balderston took the helm of the then-named Greater Philadelphia Venture Group in 2006, he announced that he would be stretching the group’s reach from New York City (a.k.a. the 67th ward) to Washington D.C. Using his 20-plus years in the venture business he did just that, helping MAC Alliance expand to outside of city limits while continuing its march back to relevancy.

Balderston is still listed as CEO on MAC’s Web site. He also is still on the Board of Directors for Ben Franklin Technology Partners and is listed as a Principal investor in Rosemont Investment Partners.

Hat tip to the Phildelaphia Business Journal.

Lockheed Martin developing smarter robotics in South Jersey

A major corporation’s subdivision in our region is becoming a leading innovator in “brain-inspired computing,” according to a Philadelphia Business Journal story by their technology writer Peter Key, who, our sources tell us, can rock a mean air guitar.

The Cherry Hill-based Lockheed Martin Advanced Technology Laboratories has spent the last four years researching “brain-inspired computing” and is poised to make inroads in the science fiction-style technology, fueled by recent funding from the Defense Advanced Research Projects Agency — which is credited for offering the initial funding for a little project that helped lead to the Internet.

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Semiconductor company Ciclon sold to Texas Instruments

King of Prussia-based Guggenheim Ventures, the venture-capital arm of financial-services firm Guggenheim Partners, announced today it has sold Ciclon Semiconductor Device Corp. to Texas Instruments for an undisclosed total, according to the Philadelphia Business Journal.

Ciclon, which is based in Bethlehem, makes semiconductors that aim to allow computers to use less electricity. Texas Instruments is based in Dallas.

Photo courtesy of Qdev.de.