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.