Top 10 VC Funds in Pennsylvania

Pennsylvania has a strong history of industryis now a hotspot for new ideas. Many young entrepreneurs are starting businesses, seeking funding to grow. In 2021, over $8.1 billion was invested in 441 deals in Pennsylvania, with Philadelphia ranking 6th in the US for venture capital. The state's venture capitalists are top-notch in supporting tech startups. We've compiled a list of the top 10 VC funds in Pennsylvania. Here’s the list:

1. First Round Capital

First Round is an investment company. It assists startups in their initial stages. It provides financial support and valuable guidance to founders. The fund caters to angel, seed, and pre-seed phases. With a track record of aiding more than 300 companies, including well-known ones such as Uber and Roblox, First Round is dedicated to ensuring the success of entrepreneurs.

Website: firstround.com

Founding Year: 2004

Investment Range: $1M - $5M 

Stage: Angel, Seed, Pre Seed

Sector: Software, Internet, consumer internet, mobile, marketplace, e-commerce, enterprise, financial services, healthcare, education

Investment Geography: Global (with a focus on the United States)

Notable Investments: Uber, Airbnb, Pinterest, Square, Ring, Figma, Duolingo, Greenhouse, Warby Parker, Dollar Shave Club

Submit Pitch/ Contact: Link

2. SeventySix Capital

SeventySix Capital is a venture capital firm focused on sports innovation. They've successfully sold companies like VSiN and Vigtory to industry leaders like DraftKings and FuboTV. Their Sports Advisory service guides teams and brands in the dynamic sports landscape. The Athlete Venture Group lets players invest in sports tech startups. The Sports Leadership Show, hosted by Wayne Kimmel, features top sports figures sharing their industry insights.

Website: seventysixcapital.com

Founding Year: 1999

Investment Range: Undisclosed

Stage: Early, Seed, Series A

Sector: Sports Tech, Esports, and Sports Betting

Investment Geography: United States

Notable Investments: ASENSEI, Boomerang, collectID, epoxy.ai, Maestro, Showroom

Submit Pitch/ Contact: Link

3. LLR Partners

LLR Partners, established in 1999, is a private equity firm that specializes in investing in technology and healthcare. They have over $5 billion spread across six funds. The company actively works with the businesses in which it invests, offering strategic guidance to help them grow. LLR focuses on various sectors, including Education, FinTech, Healthcare, Industrial Tech, Security, and Software. They provide flexible equity capital for growth, recapitalization, and buyouts. The company shares insights and expertise through GrowthBits content and Collaborate events, underscoring its commitment to creating long-term value.

Website: llrpartners.com

Founding Year: 1999

Investment Range: $15M - $100M

Stage: Growth

Sector: Technology and Services, Healthcare, Education, FinTech

Investment Geography: United States

Notable Investments: 3SI Security, AdeptAg, Agility Recovery, Cigital, edlio

Submit Pitch/ Contact: Link

4. Riverfront Ventures

Riverfront Ventures is a tech-focused venture capital firm located in southwestern Pennsylvania that specializes in supporting early-stage, high-growth companies. Their primary areas of interest include software, life sciences, robotics, energy, IoT, and advanced materials. They believe in the power of simplicity, achieved through thorough research, thoughtful design, and strategic planning. The goal at Riverfront Ventures is to empower startups by providing crucial funding support, assisting in the formation of effective management teams, and facilitating connections with customers, partners, and investors. Drawing on their experience, which has been shaped through years of collaboration with hundreds of entrepreneurs via their nonprofit arm, Innovation Works, they position themselves as dedicated allies in the journey of building successful businesses.

Website: riverfrontventures.com

Founding Year: 2013

Investment Range: $250K - $750K

Stage: Seed, Series A, Growth

Sector: Software, Life Sciences, Robotics, Energy, IoT, Advanced Materials

Investment Geography: United States

Notable Investments: Alung, Fitt, Ikos, Maven Machines, VOCI, JazzHR

Submit Pitch/ Contact: Link

5. Genacast Ventures

Genacast Ventures is like a money friend for tech startups in the Northeast. They specialize in helping small B2B tech companies grow. With loads of experience, they not only provide funding but also guide startups to become successful businesses. They use their industry connections to introduce startups to customers and investors, and even help with building the right team. Genacast Ventures loves supporting companies that use innovative tech solutions to solve tough problems. If you have a cool tech idea and need support, they're the ones to turn to.

Website: genacast.com

Founding Year: 2008

Investment Range: $500K - $1M

Stage: Early, Seed, Series A

Sector: B2B Technology

Investment Geography: United States

Notable Investments: confetti, Data Dog, BigID, DemdeX, YieldMo

Submit Pitch/ Contact: Link

6. NewSpring Capital

NewSpring supports the growth of top-notch companies. They handle $3.0 billion in various investment strategies, including stocks and bonds. By concentrating on creativity and the trends in different industries, they provide valuable knowledge, hands-on experience, and the necessary resources to boost businesses. Collaborating closely with company leaders, NewSpring assists them in becoming market leaders, using their extensive network to uncover opportunities and build relationships in different industries.

Website: newspringcapital.com

Founding Year: 1999

Investment Range: $5M - $30M

Stage: Growth

Sector: Technology, Business Services, Healthcare

Investment Geography: United States

Notable Investments: 360 PT, 3Pillar Global, Northpoint Roofing Systems, AUC Group

Submit Pitch/ Contact: Link

7. Susquehanna Growth Equity

Susquehanna Growth Equity, established in 2006, stands out as a unique investor. Fueled by entrepreneurs, it offers unparalleled flexibility in funding software and information services companies. Unlike traditional investors, this firm, backed by Susquehanna International Group, avoids rigid timelines and private equity cycles. It provides adaptable deals, diverse securities, and strategic support without imposing a one-size-fits-all approach. Rooted in SIG's success since 1987, with over 1,900 global employees, Susquehanna Growth Equity proudly contributes to a significant entrepreneurial triumph.

Website: sgep.com

Founding Year: 2006

Investment Range: $5M - $100M

Stage: Growth Equity

Sector: Technology and Software

Investment Geography: United States

Notable Investments: 10-4 Systems, 29 West Inc., ActiveCampaign, Allocadia, B Stock, CallApp

Submit Pitch/ Contact: Link

8. Boathouse Capital

Boathouse Capital is a Philadelphia private equity firm managing $650 million, specializes in investing up to $100 million in high-growth middle-market companies. Focused on sectors like SaaS, technology-enabled services, and healthcare IT, Boathouse collaborates with management teams to drive lasting value and propel companies toward rapid growth. As a versatile capital provider, Boathouse invests in both debt and equity, offering flexibility in control and non-control positions.

Website: boathousecapital.com

Founding Year: 2009

Investment Range: $5M - $40M

Stage: Seed, Growth

Sector: Business Services, Healthcare, Technology

Investment Geography: United States

Notable Investments: accurate., ALHI, Convene, FINCH, Mediafly

Submit Pitch/ Contact: Link

9. Desert Angels

Established in 2000, Desert Angels is a group of over 100 accredited investors dedicated to backing regional startups. With a track record of $60 million invested in 132 companies and 10 Sidecar funds, they're recognized as a leading angel group, ranking #1 in the southwest and #8 nationally in 2019. As a charter member of the Angel Capital Association and part of the Angel Syndication Network, Desert Angels provides members with access to quality deals, tools for investment management, and a network for collaboration and syndication. Membership offers innovation, insights, and efficient portfolio building.

Website: desertangels.org

Founding Year: 2000

Investment Range: Undisclosed

Stage: Seed, Series A

Sector: Various

Investment Geography: United States 

Submit Pitch/ Contact: Link

10. Cave Creek Capital

Cave Creek Capital, founded in 2006 by Kevin Fechtmeyer, is a renowned partner for entrepreneurs, excelling in meeting the varied needs of emerging companies. Led by Kevin's extensive industry experience, the CCCM team's passion fuels every collaboration with energy and insights. The seasoned advisory board, having overcome diverse business challenges, offers expertise to drive transformative change. With a focus on flexibility and patience, Cave Creek Capital stands out in an industry often marked by rigidity, serving as a unique solution where traditional Private Equity firms may fall short. Welcome to the next generation of Private Equity.

Website: cavecreekcapital.com

Founding Year: 2006

Investment Range: Undisclosed

Stage: Early, Seed, Series A

Sector: Healthcare, Technology, Business Services

Investment Geography: United States

Notable Investments: Integro, KeneXa, Sanitors, Entercom

Submit Pitch/ Contact: Link

Best of luck with your amazing ventures. 

Please note that this list is filtered by various metrics, and all the data are collected through various third-party websites, mostly the VC website. Since data such as ticket size or industry may change, you are requested to visit the official website given in the blog for the latest and updated information.