Philadelphia has become a prominent tech hub on the east coast and is a great place for startups looking for a new view. But in a place experiencing skyrocketing growth, it can be difficult to find the best venture capital firm for you.
Here is a list of the top Philadelphia VC firms in the “The City of Brotherly Love.”
First Round Capital
- Investment Range: $750,000 – $4,000,000
- Preferred Ownership: 15% post-seed round
- Notable Investments: Uber, Ring, Planet, Square, Warby Parker
- Total Investments: 854
- Successful Exits: 189
First Round Capital is a leading venture capital firm based in Philadelphia and specializes in seed and early-stage investments. With $738 million raised across its funds, First Round Capital is known for acting as the first institutional investor in startups. They focus on fostering growth in pre-seed, seed, and Series A stages while offering additional support through follow-on investments and advisory services.
You can find their website here.
DreamIt Ventures
- Investment Range: Up to $500,000
- Key Sectors: Healthtech, Securetech, Urbantech
- Stage: Seed Stage
- Notable Investments: TrendKite, LevelUp, SeatKick
- Total Investments: 528
- Exits: 205
- Funds Raised: $54.8 million
DreamIt Ventures specializes in providing early-stage funding to startups with high growth potential, offering up to $500,000 in exchange for equity. Beyond financial support, portfolio companies benefit from extensive networking opportunities, hands-on training, and access to an experienced network of advisors.
Learn more on their website.
BioAdvance
BioAdvance is a venture capital firm based in Philadelphia, PA, focused on investing in early-stage life science companies in the mid-Atlantic region, specifically from New York City to Washington D.C. The firm specializes in sectors related to human health, including Health IT, Diagnostics, Research Tools, Medical Devices, and Therapeutics.
- Investment Range: $500K – $1.5M (initial investment), up to $5M over the company’s life
- Stage: Seed Stage
- Key Sectors: Biotech R&D, Healthcare IT, Pharma, Medical Devices, Therapeutics
- Location: Philadelphia, PA
- Active Portfolio: 30 companies
- Notable Investments: Acuity, Allevi, Alteeris, Annovis, Avid, CarePartners, Ceptaris Therapeutics, CrossBridge, Bainbridge Health
BioAdvance focuses on companies developing life-changing solutions for diseases such as cancer, Alzheimer’s, obesity, and neurological disorders. The firm typically invests through convertible notes in two tranches and backs startups working on innovative medical solutions. BioAdvance has emerged as a leading investor in early-stage life science startups, primarily in the mid-Atlantic region.
Learn more on their website.
Ben Franklin Technology Partners
- Investment Focus: Seed-stage technology companies, primarily in health tech and other innovative sectors
- Location: Lehigh Valley, Philadelphia, Pittsburgh
- Industries: Technology (including Health Tech)
- Investment Range: Not disclosed
- Stage: Seed Stage
- Notable Investments: Health Market Science, Aboutone, InfraScan, Field Diagnostics, Saladax Biomedical, PACT
Ben Franklin Technology Partners is a prominent venture capital firm based in Pennsylvania, with locations in Lehigh Valley, Philadelphia, and Pittsburgh. It is an initiative of the Pennsylvania Department of Community and Economic Development that supports early-stage technology-based companies. The firm is known for its role as a catalyst for economic development, with investments that often lead to follow-on funding, helping startups transition from the early stage to established companies.
Learn more on their website.
MissionOG
- Investment Focus: High-growth B2B technology companies in data, software, and fintech
- Location: Philadelphia, Pennsylvania, United States
- Investment Range: $5M – $10M, with significant follow-on capital as needed
- Stage: Seed and Series A
- Notable Investments: Accurate Group, Apkudo, Alkami, Autobooks, Behalf, Bento, Brightfield, Bridge, Clip
- Total Investments: 62
- Exits: 11
MissionOG focuses on early and growth-stage B2B technology companies. Established in 2012, the firm specializes in sectors like software, data, and fintech, aiming to invest in companies that are digitizing the economy. The firm is particularly known for its significant follow-on investments to help companies scale further.
Learn more on their website.
Rittenhouse Ventures
- Location: Philadelphia, PA
- Industries: Healthcare, Life Sciences, Financial Services, Human Resources, General Business Services
- Investment Range: Up to $1 million
- Stage: Seed and Series A
- Notable Investments: Vida, Inpensa, Pianop, Energage, HRsoft, Cecelia Health, Kickup, Wealthhub, Haystack
- Investment Focus: B2B software companies in the healthcare, life sciences, financial services, and business services sectors
Rittenhouse Ventures specializes in software solutions for various sectors, including healthcare, life sciences, financial services, human resources, and general business services. They are geared towards seed-stage investments in B2B software companies with high growth potential, primarily in the Mid-Atlantic region. Rittenhouse typically invests up to $1 million in exchange for minority equity.
Learn more on their website.
About the Author: Tess Danielson is a journalist and writer focusing on the intersection of technology and society.
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