ED  StartUp PHL


     Office Locations:

c/o Philadelphia Industrial Development Corporation
1500 Market Street Suite 2600
West Philadelphia, PA 19102
Phone: 215-496-8020



  • Early
  • Seed



  • Business Services
  • Information Technology
  • Retail & Restaurant
  • Software & Internet



    StartUp PHL is a collaborative effort between the City of Philadelphia Department of Commerce and the Philadelphia Industrial Development Corporation. The goals of StartUp PHL are: To strengthen the entrepreneurial environment in Philadelphia by backing smart proposals that will energize the startup scene. The group will fund the best plans; and to increase the availability of seed-stage capital by creating a public/private venture fund dedicated to making investments in Philadelphia-based startups. The Startup PHL Seed Fund is an effort by the City of Philadelphia and the Philadelphia Industrial Development Corporation (PIDC) to increase the availability of investment capital for Philadelphia-based startups. PIDC has partnered with First Round Capital, one of the most active investment firms in the country, to create a $6 million public/private venture fund: the Startup PHL Seed Fund. Both PIDC and First Round Capital invested $3 million each. First Round Capital manages the fund, making early-stage investments in Philadelphia-based tech startups. To qualify for the program, a company must meet the following criteria: Philadelphia based seed stage information technology or technology-related business; Headquarters or key operations are Philadelphia based and will remain so for at least the next 18 months. First Round Capital manages the investment process. The City of Philadelphia acting through PIDC as its administrative agent will make a multi-year investment in Philadelphia's startup and early-stage business community, totaling up to $500,000. Angel investments range from $25,000 to $100,00 while seed-stage investments range from $250,000-$750,000.

    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.
    Anne Bovaird Nevins Senior Vice President
    John Grady President
    Wanda Speight Senior Vice President


    Portfolio companies include:


    Recent News: