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.

MIGHT BE WORTH YOUR TIME

First Round Capital is among the backers of cloud computing backup company Backupify. The West Conshohocken-based early stage investment firm led the seed round of $900,000. The new service plans to charge customers $5 a month to back up all of their online data such as Facebook, Twitter and Gmail.

Comcast Interactive Capital gets cited as a good example of corporate venture funds by the Wall Street Journal.

GIVE A GLANCE

Edison Ventures was also busy helping King of Prussia-based Market Science Inc. close a round of funding for $2 million.

Philly-based pharma company Versa has swapped two of its executives. The company is backed by Quaker BioVentures.

Want to see First Round’s new office in the 67th Ward? Of course you do.

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

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.

Rapid Micro’s viral detection technology has already been commercialized and the company hopes the additional investment will help it expand to new markets including Europe.

Quaker BioVentures partner Richard Kollender

When unwanted microbes sneak into vats where drugs are being made the effect can be disastrous for large drug companies who often have to shut down production and face supply shortages, according to xconomy. Drug-maker Genzyme may stand to lose $300 million in the wake of its plant shutdown over contaminated vats.

The Boston-based Rapid Micro Biosystems secured $18.6 million from three other investors along with Quaker, including California-based Kleiner Perkins Caufield & Byers, Boston-based TVM Capital and Boston-based VIMAC Milestone Medica Fund; leaving Quaker as the lone local representation in the funding round.

Quaker BioVentures partner Richard Kollender will join the board as part of the deal.