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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VC Roundup: Gencast to invest in five startups this year, Lifeshield goes local

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

Yardley-based secutiry company Lifeshield has raised $11 million from a handful of local sources, including Novitas Capital, First Round Capital, NewSpring Ventures and Nutrisystem’s (based in Horsham) former CEO Michael Hagan. The funds will be used to relaunch the brand after it changed its name from InGrid Home Security.

Gil Beyda has a fantastic interview with adxchanger.com about the sale of Invite Media (our coverage here). Beyda’s company, Gencast Ventures, was one of Invite’s investors and the company’s sale to Google gave Gencast its first exit. Beyada also says that he is looking to invest in four to five new startups this year, so get that pitch ready.

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VC Roundup: DreamIt kicks off, BFTP gets busy

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

Technically Philly was able to stop in to see half of DreamIt Ventures’ kick off weekend at the University City Science Center last Friday where local media, entrepreneurs and participating companies got a chance to network and prepare for the incubator’s third class. It was the first time that the participating companies were able to see the space and meet one another. New this year is Brooklyn-based edication investor Startl’s involvement. The group partnered with DreamIt to incubate five of Dreamit’s 15 participating companies.

In opening remarks, co-founder Mike Levinson said that DreamIt received over 350 applications and the tech world considers DreamIt as “one of the top three incubators in the country.”

Also new to this year’s class, Kerry Rupp will be replacing Steve Barsh, who is focusing on his new startup, Packlate.

The event was rounded out by Deputy Mayor of Economic Development Alan Greenberger bragging about Philly, Science Center CEO Steve Tang welcoming the businesses to the space and Click Equations CEO Lucinda Holt discussing the difference between CEOs and Founders.

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Ben Franklin Technology Partners has been busy in recent weeks. The southeast group invested $800,000 in five (mostly pharma) companies last month, but then shelled out $2 million for eight more recently. The group also released its annual report and the finalists for the New Energy Idea Contest and plans to announce a winner June 17th.

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VC Roundup: MAC and ETC merge, MindSnacks accepted into DreamIt

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
Peter Key reports that the Eastern Technology Council and MAC alliance are merging. Both organizations focus on connecting business owners with investors. Dean Miller, managing director at Novitas Capital will be the new organization’s CEO. The new organization will reveil its name June 3rd, during the MAC Alliance Awards Luncheon as reported in Key’s followup post.

Either someone is lying, or DreamIt Ventures has started to notify companies that have been accepted in the program’s Summer 2010 class. MindSnacks, a social game dev shop, claims it has been accepted to the University City-based incubator and has posted that it is looking for a “generalist developer” to possibly serve as a co-founder. A social media search by Technically Philly revealed no other companies coming forward.

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VC Roundup: Quaker gets aroused, Safeguard swaps debt

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

As we tweeted yesterday, Fast Company interviewed Josh Kopelman about why people should start a company in Philly. In the interview Kopelman points to local universities and the low cost of living as prime reasons people should set up shop here. The article came after the local community lobbied the magazine to be included in its series.

According to a press release, Quaker BioVentures has teamed up with a student-run VC firm to invest in Semprae Laboratories. The company makes “arousal” oils. Yes, we’re serious.

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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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Quaker Bioventures invests in Rapid Micro Biosystems

Quaker BioVentures, a venture capital firm based in University City’s Cira Center, has been on a roll the past month.

In June, partner David King was named to the board of the University City Science Center and the company was profiled in the Wall Street Journal for shifting some of its resources from biotech to medical devices.

The good news continued yesterday when it was announced that Quaker was one of the Series A investors in Rapid Micro Biosystems, a company that makes technology to detect troublesome microbes that can slow down the drug-making process.

When Technically Philly asked for the exact share Quaker BioVentures invested, the company said it does not disclose amounts.

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Shop Talk: Philadelphia’s venture capital community on Twitter

Image courtesy of millionclues.com

If you have ever shown a friend or relative Twitter, you were probably met with a response along the lines of, “Why would I ever want to use this?”

Mostly, it’s hard to quantify the usefulness of a tool such as Twitter, but the startup and venture capital research Web site Chubbybrain has given it their best shot by asking the question: Do VCs who use Twitter invest in more startups?

The report is an interesting look at how venture capital firms use Twitter while judging its effectiveness. But, as expected, the report focuses mostly on VCs in California, Boston and New York. That got us thinking, what local VC’s are on Twitter?
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