Pennsylvania has a long history of industrials, and it's also a hotbed for innovation today. Entrepreneurs are beginning startups of all types in the state, and some are seeking venture capital funding for further growth.
If you have a successful startup that's ready for funding, there are several VC firms looking for investment opportunities.
We also recommend checking out our full list of the top venture capital firms.
Best Venture Capital Firms in Pennsylvania
1. R&R Global Partners
- Location: Bryn Mawr, PA
- Industries: Industry Agnostic
- Stage: Growth
- Notable Portfolio Companies: Planet Fitness Chicago Franchises
R&R Global Partners invests in growing companies in need of capital. The firm wants to quickly grow NOI, thereby increasing valuation. Investment time frames are somewhat shorter than other firms', as R&R looks for quick appreciation and exits.
2. Intrinsic Capital Partners
- Location: Philadelphia, PA
- Industries: Data Analytics, Technology, Genomics, Lab Testing, Medical Devices, Medical Formulations
- Stage: Early Stage
- Notable Portfolio Companies: Act Laboratories, Treez, Hound Labs, RX Green Technologies
Intrinsic Capital Partners works with technology and life science companies that have high growth potential. The firm wants companies to have high barriers to entry and to have seasoned operators who have been successful in the field. Investments primarily provide capital, with less concern for hands-on management than some other firms have.
3. Goldin Ventures
- Location: Macungie, PA
- Industries: Technology, Consumer Goods
- Stage: Post-Revenue
- Notable Portfolio Companies: Allay, GoCanvas, Senseware, Wizehive
Goldin Ventures is a family office that makes smaller investments. The office will initially invest up to $300,000 and then potentially make follow-up investments of $1 million. Companies must be post-revenue and are usually in technology or consumer goods. This is a relatively small and conservative family office serving the Mid-Atlantic.
4. Semcap
- Location: Wayne, PA
- Industries: Food, Healthcare, Education
- Stage: Series A, Series B, Series C
- Notable Portfolio Companies: SafeRide Health, Purely Elizabeth, Good Culture, Arizona State University
Semcap participates in series rounds of fundraising. The firm makes contributions alongside other investors and rarely is the sole capital provider. This is partly because Semcap is less interested in managing and doesn't have its own management teams. The firm tries to capitalize on trends in order to spur growth.
5. Boathouse Capital
- Location: Wayne, PA
- Industries: Software, Technology Services, Healthcare Services
- Stage: Late Stage, Growth
- Notable Portfolio Companies: CalNet Technology Group, Gonvene, Sandboxx, SageWorks
Boathouse Capital provides equity investment and financing for established companies. Companies must have revenue of $5 million and a 10% EBITDA or 10% organic growth rate. Companies must be successful, either in late stage or growth, but they don't have to be profitable. The firm is most interested in software, technology, and healthcare services. Opportunistic EBITDA multiples companies can also be considered, however.
6. Incline Equity Partners
- Location: Pittsburgh, PA
- Industries: Light Manufacturing, Business Services
- Stage: Early Stage, Late Stage, Growth
- Notable Portfolio Companies: Nova Vision, RKD Group, Certified Collision Group, Alliance Environmental Group
Incline Equity Partners has expertise in light manufacturing and business services. In addition to capital investment, the firm expects to assist with talent acquisition and development. A team of specialized operating advisors assists with this. Companies should have values of $25 million–$750 million and must be located in the US or Canada.
7. Susquehanna Growth Equity
- Location: Philadelphia, PA
- Industries: Software, Information Services, Internet
- Stage: Early Stage, Late Stage, Growth
- Notable Portfolio Companies: B Stock, Ballista, ActiveCampaign, Centrl
Susquehanna Growth Equity provides funding to growing technology companies. The firm's team is comprised of entrepreneurs who were successful in the field, and it has successfully sold multiple software, information services, and internet-related companies. SGE doesn't have specific time horizons.
8. LLR Partners
- Location: Philadelphia, PA
- Industries: Education, Financial Technologies, Industrial Technologies, Software, Healthcare
- Stage: Growth
- Notable Portfolio Companies: 3SI, AdeptAg, Azalea Health, CollabNet
LLR Partners invests in growth-oriented middle-market companies. Companies should have 10% organic growth, gross margins over 40%, and an addressable customer base of at least $500 million. The firm considers both minority and majority stakes.
9. NewSpring Capital
- Location: Radnor, PA
- Industries: Healthcare, Franchises, Other
- Stage: Late Stage, Growth
- Notable Portfolio Companies: Airiam, Aging With Comfort, Energage, NCG Care
NewSpring Capital has a healthcare fund and a franchise fund, but also other generic funds for growing companies. A combination of five different funds gives the firm flexibility to consider many different companies. In addition to private equity, the firm also specializes in mezzanine financing.
