A Philly venture-capital firm finds few deals here
January 23, 2017
This article was first published on philly.com.
Since 2000, NewSpring Capital in Radnor, one of the more enduring Philadelphia-area venture-capital firms, has invested $1.6 billion of clients' money in 122 companies and sold off 46.
Early on, NewSpring and its clients, which include the Pennsylvania State Employees' Retirement System, "made a lot of money" from a string of successful area companies -- LiquidHub, TMG Capital, eCount, Nutrisystem -- partner Marc Lederman said.
Profitable funds keep raising more money and finding new places to put it. Last year was "definitely the biggest year in terms of the number of deals," with 16 in 2016, and the dollar value -- $175 million -- was also "the most we've ever done," Lederman added.