VC  Delaware Innovation Fund

     Office Locations:

1601 Concord Pike, Suite 82-84
Wilmington, DE 19803
Phone: 302-777-1616
Fax: 302-777-1620



  • Early
  • Seed



  • Business Services
  • Consumer Products & Services
  • Information Technology
  • Software & Internet



    The Delaware Innovation Fund (DIF) is a $10 million private, non-profit venture capital firm established in 1995. The DIF provides early-stage investment capital and counsel to encourage the growth of seed, start-up and early-stage high technology companies in Delaware and throughout the Mid-Atlantic region. The DIF provides funding in either the form of equity capital, long-term debt with royalty-based payback, or convertible debentures. The DIF also provides technical assistance through business counseling, entrepreneurial seminars, and its wide network of professional resources. DIF's initial investment range is from $25,000 through $50,000 in its demonstration funding program, and $50,000 to $500,000 in its commercialization funding. To date, over 250 companies have received counseling and an excess of 500 jobs have been created. Over 20 companies have received capital funds for growth and expansion.

    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Growth Stage
    (also called Mid-stage)
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B

    Investment Team:

    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    David J. Freschman Managing Principal
    Michael J. Kelley Venture Partner
    Patrick J. Foley Principal


    Portfolio companies include:


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