Top 12 Venture Capital Firms in Philadelphia

For founders preparing to raise capital, understanding the venture capital scene in Philadelphia is a critical first step. Knowing the key players in the Philly area helps you connect with investors who are genuinely interested in your industry and stage.

To help you find the right partners, our team at Rho curated this guide to the top VC firms operating in the region. Use it to quickly identify relevant investors for your startup, whether you're actively fundraising or planning your next round.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• Seeking venture capital funding means finding the right long-term partners who can provide capital and guidance to help your startup grow.
• Philadelphia has a strong venture capital community, with firms like First Round Capital, MissionOG, Dorm Room Fund, and Ground Up Ventures being some of the top players in the area.
• Whether you're raising capital or have just closed a round, we help you access and manage your funds with alternative funding options, fast business banking, and corporate cards.

Which Philadelphia VC Firms Are Right for Your Stage?

Whether your company is in its early stages or preparing for an exit, it helps to know who to talk to. Here is a quick overview of which Philadelphia VC firms invest at each stage.

Pre-seed and Seed VC Firms in Philadelphia

Pre-seed and seed funding is the first institutional capital a startup raises, often used to build a minimum viable product and find initial market traction. Philadelphia has several pre-seed VC firms, including Dorm Room Fund, which backs student-led companies, and Ground Up Ventures, which supports founders in the US and Israel.

Early Stage VC Firms in Philadelphia

Early-stage venture capital firms typically invest in Series A and B rounds, providing capital for companies to scale their teams and accelerate growth. Among the early-stage VC firms in Philadelphia are Ben Franklin Technology Partners, a long-standing supporter of the region's tech scene, and SustainVC, an impact investing fund for companies focused on sustainability.

Late Stage VC Firms in Philadelphia

Late-stage funding is for more mature companies that are scaling rapidly and may be preparing for an exit through an IPO or acquisition. For these later rounds, you might connect with investors like First Round Capital or MissionOG, both of which provide capital to growth-stage B2B technology companies.

It's also worth noting that some VC firms, like BioAdvance for biotech venture capital, invest across multiple startup funding stages.

Below is a closer look at the top VC firms in Philadelphia, including key details about their investment stages, sector focus, portfolio highlights, and what makes each firm a distinct option for founders.

1. First Round Capital

First Round Capital is a venture firm that specializes in providing seed-stage funding to technology companies. They are known for being one of the first checks into a startup, helping founders get their ideas off the ground and build from day one.

The firm emphasizes building a strong community around its portfolio companies, offering resources and a network that extends beyond just capital. Their investment thesis is broad, covering various tech sectors, but they consistently focus on being a long-term partner from the earliest stages.

This firm is an excellent match for founders who are at the very beginning of their journey and are looking for an active, hands-on investor. If you value a strong support network and want a partner who can potentially fund you through later rounds, First Round is worth considering.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Debt
• Industries of focus: Technology, Finance, Financial Services
• Founded: 2004
• Portfolio size: Over 940 investments
• Track record: More than 210 exits

You can refer to their website here.

2. MissionOG

MissionOG is a venture capital firm that provides capital to B2B technology companies. They focus on supporting businesses through both their early and growth stages of development.

The firm concentrates on B2B technology, with a specific interest in financial services. Their model involves backing companies that have an established product and are ready to scale, supporting them from early venture rounds into their later growth phases.

If you are a founder of a B2B tech startup, particularly one in the financial services space, MissionOG could be a suitable partner. They are well-positioned to help companies that have moved beyond the initial idea and are prepared for significant growth.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: B2B, Financial Services
• Founded: 2012
• Portfolio size: 68 investments
• Track record: 17 exits

You can refer to their website here.

3. Dorm Room Fund

Dorm Room Fund is a venture capital firm built by students to invest in student-led startups. It focuses on providing the first check to companies founded by student entrepreneurs across the country.

The firm’s model is centered on its community-driven approach, connecting student founders with a network of peers and resources. They invest at the seed stage, backing companies in sectors like financial services and those emerging from university ecosystems.

This fund is a great match if you are a student founder looking for your first investment. It's ideal for those who want to be part of a strong entrepreneurial community from the very beginning of their startup journey.

• Investment stages: Seed
• Industries of focus: Financial Services, Universities, Venture Capital
• Founded: 2012
• Portfolio size: Over 215 investments
• Track record: More than 30 exits

You can refer to their website here.

4. Ground Up Ventures

Ground Up Ventures is an early-stage venture capital firm that invests in pre-seed and seed startups. The firm supports founders across the United States and Israel, providing foundational capital to get new companies started.

Their approach is centered on partnering with founders from day one, helping build businesses from the ground up. They focus on being the first institutional check, signaling a commitment to supporting companies through the earliest, most formative stages of development.

Ground Up Ventures is a good match for founders in the US or Israel who are looking for their first investment and a hands-on partner. If you have a strong vision and need capital to build your initial team and product, their model is designed to provide that early support.

• Investment stages: Pre-seed, Seed, Early Stage Venture
• Industries of focus: Finance, Financial Services, Venture Capital
• Geographical presence: United States and Israel
• Founded: 2017
• Portfolio size: 47 investments
• Track record: 4 exits

You can refer to their website here.

5. BioAdvance

BioAdvance is a Pennsylvania-based venture capital firm that provides funding to companies in the life sciences industry. The firm invests across multiple stages, from seed rounds to later-stage venture funding.

The firm's primary focus is on the life sciences and biotechnology sectors, supporting companies from their earliest stages through to maturity. Their ability to invest across seed, early, and late stages indicates they can be a long-term financial partner.

If you are a founder of a life sciences or biotech company, BioAdvance is a strong potential partner. They are particularly well-suited for founders seeking an investor who can provide capital throughout the company's lifecycle.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Life Science, Biotechnology
• Founded: 2003
• Portfolio size: Over 190 investments
• Track record: 22 exits

You can refer to their website here.

6. Ben Franklin Technology Partners of Southeastern Pennsylvania

Ben Franklin Technology Partners is a long-standing organization that supports the region's technology sector through economic development programs. They provide capital and resources to help tech-based companies get started and grow in Southeastern Pennsylvania.

A key feature of their model is the combination of grant funding with traditional seed and early-stage venture capital. This approach, coupled with their focus on regional economic impact, shows a commitment to nurturing the local tech ecosystem.

This firm is a great fit if you're a founder in the Philly area whose technology company can contribute to local economic growth. They are particularly well-suited for startups that could benefit from both non-dilutive grants and early-stage investment.

• Investment stages: Seed, Early Stage Venture, Grant
• Industries of focus: Technology, Financial Services, Government, Commercial Real Estate
• Founded: 1982
• Portfolio size: Over 230 investments
• Track record: 44 exits

You can refer to their website here.

7. Red & Blue Ventures

Red & Blue Ventures is a venture capital fund that provides seed and early-stage funding to new companies. They focus on getting involved at the beginning of a startup's life, helping founders build their businesses from the ground up.

The firm's model is built entirely around the University of Pennsylvania ecosystem, investing exclusively in companies founded by its students, faculty, and alumni. This tight-knit community focus means they provide a strong network of support alongside capital.

This fund is an ideal match for founders with a direct connection to the University of Pennsylvania. If you're part of the Penn community and looking for a first check from an investor who understands your background, Red & Blue is a clear choice.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Finance, Financial Services, Venture Capital
• Community focus: University of Pennsylvania students, faculty, and alumni
• Founded: 2016
• Portfolio size: 31 investments
• Track record: 4 exits

You can refer to their website here.

8. Rittenhouse Ventures

Rittenhouse Ventures is a venture capital firm that invests in software companies serving the healthcare, financial, and business services sectors. They provide both capital and strategic guidance to help their portfolio companies grow.

The firm concentrates on enterprise software, particularly for the healthcare and financial services industries. Their investment flexibility from seed to later stages shows they can support companies throughout their lifecycle.

This firm is a good match if you are a founder of a B2B software startup in the healthcare or financial services space. They are well-suited for entrepreneurs looking for a partner who provides strategic support alongside funding.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: B2B, Healthcare, Financial Services, Information Technology
• Founded: 2006
• Portfolio size: 34 investments
• Track record: 12 exits

You can refer to their website here.

9. SustainVC

SustainVC is an impact investing venture capital fund that concentrates on early-stage companies. They provide equity investments with the goal of generating market-rate returns while also creating positive social or environmental change.

The firm’s defining characteristic is its dual focus on financial returns and measurable impact. They specifically back companies whose core business model is designed to address significant social or environmental challenges.

This fund is a great fit for founders whose companies have a clear social or environmental mission. If your purpose is central to your business and you need early-stage capital, SustainVC is a partner worth looking into.

• Investment stages: Seed, Early Stage Venture, Convertible Note
• Industries of focus: Impact Investing, Social Impact, Finance
• Founded: 2007
• Portfolio size: 24 investments
• Track record: 3 exits

You can refer to their website here.

10. SRI Capital

SRI Capital is an early-stage venture fund that operates in both the United States and India. The firm provides seed and early-stage capital, partnering with entrepreneurs from day one to help build lasting companies.

The firm’s investment thesis is centered on enterprise SaaS and deep tech startups that serve the "real economy." Their cross-border model supporting US-India businesses is a core part of their strategy, and the team is led by a serial entrepreneur, signaling a hands-on, founder-centric approach.

This firm is a strong match for founders of enterprise SaaS or deep tech companies, particularly those with a US-India connection. If you are looking for an investor with direct operational experience, SRI Capital is a suitable partner.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Enterprise SaaS, Deep Tech
• Geographical presence: United States and India
• Founded: 2011
• Portfolio size: 34 investments
• Track record: 7 exits

You can refer to their website here.

11. Dreamit Ventures

Dreamit Ventures is a venture fund that backs startups with existing pilots or revenue that are ready to scale. They provide capital to companies that have already demonstrated some initial traction and are prepared for growth.

The firm shows a clear focus on security-related technologies, from cloud security and fraud detection to privacy and generative AI. Their approach is geared toward companies that have validated their initial product and are set to expand.

This fund is a good match if you lead a security-focused startup that has already achieved some market validation. They are an ideal partner for founders seeking capital and support to scale their operations quickly.

• Investment stages: Convertible Note, Early Stage Venture, Non Equity Assistance, Seed, Venture
• Industries of focus: Security (Cloud Security, Fraud Detection, Privacy), Generative AI
• Founded: 2007
• Portfolio size: Over 400 investments
• Track record: 53 exits

You can refer to their website here.

12. Robin Hood Ventures

Robin Hood Ventures is an angel investor group that provides capital to early-stage, high-growth companies. The group is dedicated to supporting startups specifically within the Greater Philadelphia region.

As an angel group, their model is built on the collective experience of its members, who offer more than just capital. Their focus on enterprise software, combined with an ability to invest from seed to later stages, signals a capacity for long-term partnership.

This group is a strong choice for founders in the Philadelphia area who are building high-growth enterprise software companies. If you are seeking early-stage funding from a network of local, experienced investors, Robin Hood Ventures is worth looking into.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Enterprise Software
• Geographical presence: Greater Philadelphia region
• Founded: 1999
• Portfolio size: 148 investments
• Track record: 17 exits

You can refer to their website here.

What This Tells Us About Philadelphia's VC Scene

Philadelphia's venture capital market shows strong support for companies at the beginning of their journey. Many firms on our list focus on pre-seed, seed, and early-stage rounds, which is good news if you're just starting out. This indicates a healthy environment for getting new ideas funded and off the ground.

While there's a clear concentration in B2B software and financial technology, the city also has specialized investors for life sciences, impact-driven companies, and university-affiliated startups. This mix suggests that founders across various sectors can find a relevant partner. The market appears well-balanced, offering a solid foundation for growth as you plan your next steps.

Raise Confidently with Rho

Having a focused list of relevant investors is critical when your time and energy are limited during a fundraise. Our guide is designed to help you target the right partners from the start.

If you’re seeking funding, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines through a fast, guided process. This gives you more ways to secure capital without giving up equity.

Once your capital is secured, Rho provides integrated tools to help you manage and deploy funds efficiently. Our platform includes business banking, corporate cards, and automated bill pay, all in one place.

FAQs about Venture Capital Firms in Philadelphia

Are there SaaS or AI venture capital firms in Philadelphia?

Yes, Philadelphia has a strong focus on B2B software. Firms like SRI Capital invest in enterprise SaaS, while others like Dreamit Ventures back companies in specialized areas, including security and generative AI, offering support for tech-focused startups.

Can I find social impact venture capital firms in Philadelphia?

Yes, the city has a growing impact investing scene. Funds like SustainVC focus on early-stage companies with a clear social or environmental mission, providing capital to businesses that aim to generate positive change alongside financial returns.

What options exist for medtech venture capital firms?

Philadelphia is a major hub for life sciences and health-related technology. Firms like BioAdvance support biotech companies across all stages, while Rittenhouse Ventures focuses on software for the healthcare industry, providing strong options for medtech founders.

How do I connect with venture capital firms for startups in Philadelphia?

Warm introductions through your network are most effective. Also, consider university-affiliated funds like Red & Blue Ventures if you have a connection, or attend local industry events to meet investors and other founders in the ecosystem.

How can Rho help with venture capital financing for my startup?

We help you access non-dilutive funding options like venture debt to complement your equity raise. Once funded, our platform helps you manage your capital with banking, corporate cards, and AP automation. Get started with Rho today.