Venture capital in Pennsylvania
35 venture firms are based in Pennsylvania, from SEC filings and the fund index. Below them are Pennsylvania’s other sources of capital, the LPs based here that report holding venture funds, and its SEC-registered family offices. How Pennsylvania ranks for startup raises and new funds: its Venture Ecosystem Index page.
On this page: 35 venture firms 2 new funds 126 other sources of capital 43 LPs 6 family offices.
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Venture firms based in Pennsylvania
4 firms in the Venture Capital Fund Index, by latest fund, then 31 advisers that report a venture fund on Form ADV, largest estimated venture assets first, from the Venture Adviser Directory. Each one’s page has its funds and, where an LP reports holding them, its LPs.
| # | Firm | Headquarters | Latest fund | Fund size | AUM |
|---|---|---|---|---|---|
| 1 | 1315 Capital | Philadelphia | 1315 Capital III | $350M | $1B |
| 2 | Osage University PartnersOUP | Bala Cynwyd | Osage University Partners IV | $196M | — |
| 3 | MissionOG | Philadelphia | MissionOG Fund III | $167M | — |
| 4 | Osage Venture PartnersOsage Ventures, OVP | Bala Cynwyd | Osage Venture Partners VI | $54M | — |
| # | Adviser | Location | Venture funds | Private fund assets | Registered |
|---|---|---|---|---|---|
| 1 | FR Capital Holdings, LP | Philadelphia | 22 | $3.8B | 2012 |
| 2 | US Innovative Technology Capital Management, LLC | Coraopolis | 3 | $8.4B | 2022 |
| 3 | Franklin ParkFranklin Park Associates, LLC | Bala Cynwyd | 18 | $6B | 2003 |
| 4 | Oup Management Co., LLC | Bala Cynwyd | 5 | $785M | 2021 |
| 5 | Ovp Management Co., LLC | Bala Cynwyd | 4 | $336M | 2021 |
| 6 | New Rhein Healthcare Investors LLC | Philadelphia | 6 | $316M | 2022 |
| 7 | MVP Management Company Emerging | Radnor | 11 | $213M | 2024 |
| 8 | Intrinsic Advisors, LLC Emerging | West Conshohocken | 6 | $203M | 2018 |
| 9 | Adams Capital Management, Inc. Emerging | Sewickley | 2 | $194M | 2012 |
| 10 | Heroic Ventures Management, LLC Emerging | Gladwyne | 14 | $160M | 2019 |
| 11 | Birchmere Management LLC Emerging | Pittsburgh | 6 | $120M | 2022 |
| 12 | Verdis Investment Management, LLC | West Conshohocken | 2 | $414M | 2006 |
| 13 | CR Ventures Management, LLC Emerging | Havertown | 5 | $114M | 2022 |
| 14 | SCP Vitalife Management Company, LLC Emerging | Malvern | 1 | $105M | 2012 |
| 15 | Enertech Capital EmergingEnertech Capital Holding Company, L.P. | Ambler | 5 | $93M | 2020 |
| 16 | Verdict Capital Management, LLC Emerging | Gladwyne | 1 | $80M | 2026 |
| 17 | Forefront Analytics, LLC Emerging | W. Conshohocken | 3 | $91M | 2010 |
| 18 | Archetype Fund Management LLC Emerging | Philadelphia | 5 | $66M | 2024 |
| 19 | Empactful Capital LLC Emerging | Doylestown | 2 | $63M | 2023 |
| 20 | Activate Venture Partners EmergingActivate Management LLC | Bethlehem | 3 | $56M | 2024 |
| 21 | BTNV Management, LLC Emerging | Pittsburgh | 1 | $50M | 2022 |
| 22 | Seventysix Capital EmergingSeventysix Capital Venture Management, LLC | King of Prussia | 3 | $42M | 2025 |
| 23 | Lulu Cheng Meservey Management, LLC Emerging | Philadelphia | 1 | $39M | 2026 |
| 24 | Connors Investor Services Inc Emerging | Wyomissing | 2 | $147M | 1969 |
| 25 | Avc Fund Management, LLC Emerging | Radnor | 1 | $32M | 2021 |
| 26 | Global Opportunity Pennsylvania Management, LLC Emerging | Philadelphia | 1 | $31M | 2025 |
| 27 | Hatch Biofund Management, LLC Emerging | Doylestown | 1 | $26M | 2024 |
| 28 | Global Opportunity Philadelphia Management, LLC Emerging | Philadelphia | 1 | $12M | 2023 |
| 29 | Mainline Investment Advisers, LLC Emerging | Wynnewood | 1 | $108M | 2011 |
| 30 | Alpha Leonis Partners, LLC Emerging | Wayne | 1 | $8.2M | 2021 |
| 31 | Sagona Capital, Inc. Emerging | Philadelphia | 1 | $100K | 2025 |
New funds raising from Pennsylvania
2 venture funds managed from Pennsylvania started raising in 2025 or later and filed a Form D since October 2025: managers with new money to invest. Amounts are as each fund’s latest Form D reports them, newest filing first.
| Fund | Manager | Started | Raised so far | Target | Latest filing |
|---|---|---|---|---|---|
| Verdict Capital Fund I, L.P. | Verdict Capital Management, LLC | 2026 | — | $300M | April 17, 2026 |
| Lulu Cheng Meservey, LP | Lulu Cheng Meservey Management, LLC | 2025 | $40M | $40M | December 5, 2025 |
Other sources of capital in Pennsylvania
28 community development lenders, 24 SBICs, 21 pension master trusts, 20 union pension plans, 17 SBA lenders, 10 corporate pension plans, 4 placement agents, and 2 angel groups. From public registers and what each organization publishes; see Capital Sources for every state.
| Source | Location | On the record |
|---|---|---|
| Broad Street Angels | Philadelphia | Philadelphia angel investment club, an affinity club of The Union League of Philadelphia, that reviews opportunities in the Mid-Atlantic region. |
| Robin Hood Ventures | Philadelphia | Mid-Atlantic angel group investing in early-stage, high-growth startups in software, healthcare IT, hardtech, life sciences and consumer. |
| BA Securities, LLC | W. Conshohocken | 3 venture funds since 2021 |
| CV Brokerage, Inc. | West Conshohocken | 7 venture funds, 2011–2018 |
| Invicta Capital LLC | Monroeville | 2 venture funds since 2021 |
| SSG Capital Advisors, LLC | Canshohocken | 2 venture funds, 2018–2019 |
| Employees Retirement Plan of Hajoca Corporation | Lafayette Hill | In partnerships and joint ventures: $405M |
| Glaxosmithkline Cash Balance Pension Plan | Philadelphia | In partnerships and joint ventures: $124M |
| Highmark Retirement Plan | Pittsburgh | In partnerships and joint ventures: $564M |
| Lehigh Valley Health Network, Inc. Retirement Plan | Allentown | In partnerships and joint ventures: $62M |
| Main Line Health, Inc. Retirement Income Plan | Radnor | In partnerships and joint ventures: $1B |
| Pension Plan for Employees of Mount Nittany Medical Center | State College | In partnerships and joint ventures: $30M |
| Pension Plan of Independence Blue Cross | Philadelphia | In partnerships and joint ventures: $81M |
| Pension Plan of the Chubb Corporation | Philadelphia | In partnerships and joint ventures: $223M |
| Reading Health System Pension Plan | Reading | In partnerships and joint ventures: $209M |
| United States Steel Corporation Plan for Employee Pension Benefits (Revision of 2003) | Pittsburgh | In partnerships and joint ventures: $562M |
| Argosy Investment Partners IV, L.P. | Wayne | Hybrid · Hybrid Debt/Equity |
| Argosy Investment Partners SBIC 7, L.P. | Wayne | Private Equity · Mezzanine |
| Argosy Investment Partners SBIC VI, L.P. | Wayne | Private Equity · Buyout |
| Argosy Investment Partners V, L.P. | Wayne | Private Equity · Buyout |
| Boathouse Capital II LP | Wayne | Hybrid · Hybrid Debt/Equity |
| Boathouse Capital III LP | Wayne | Hybrid · Hybrid Debt/Equity |
| Boathouse Capital IV LP | Berwyn | Hybrid · Hybrid Debt/Equity |
| Boathouse Capital LP | Wayne | Hybrid · Mezzanine |
| Hamilton Lane National Small Business Credit Fund, L.P. | Conshohocken | Private Credit · Mezzanine |
| Hidden River Strategic Capital I, LP | Radnor | Hybrid · Hybrid Debt/Equity |
| Innovate Capital Growth Fund, L.P. | Philadelphia | Private Equity · Expansion |
| LBC Small Cap SBIC, L.P. | Philadelphia | Private Credit · Direct Lending |
| Merion Investment Partners III, LP | Berwyn | Private Credit · Mezzanine |
| Merion Investment Partners IV, LP | Berwyn | Private Credit · Mezzanine |
| New York Credit SBIC Fund II L.P. | Conshohocken | Private Equity · Mezzanine |
| NewSpring Mezzanine Capital III, L.P. | Radnor | Hybrid · Mezzanine |
| NewSpring Mezzanine Capital IV, L.P. | Radnor | Private Credit · Mezzanine |
| NewSpring Mezzanine Capital V, L.P. | Radnor | Hybrid · Mezzanine |
| Renovus Capital Partners II, L.P. | Wynnewood | Private Equity · Buyout |
| Renovus Capital Partners III, L.P. | Wayne | Private Equity · Buyout |
| Renovus Capital Partners IV SBIC, L.P. | Wayne | Private Equity · Buyout |
| Tecum Capital Partners II, L.P. | Wexford | Hybrid · Mezzanine |
| Tecum Capital Partners III, L.P. | Wexford | Hybrid · Mezzanine |
| Tecum Capital Partners IV, L.P. | Wexford | Hybrid · Mezzanine |
| Asbestos Workers Philadelphia Pension Fund | Philadelphia | In partnerships and joint ventures: $26M |
| Cement Masons Union Local 592 Pension Plan | Philadelphia | In partnerships and joint ventures: $40M |
| Central Pennsylvania Teamsters Defined Benefit Plan | Wyomissing | In partnerships and joint ventures: $360M |
| Eastern Atlantic States Carpenters Pension Fund | Philadelphia | In partnerships and joint ventures: $861M |
| International Brotherhood of Electrical Workers Local Union 98 Pension Plan | Philadelphia | In partnerships and joint ventures: $98M |
| International Union of Operating Engineers Pension Fund of Eastern Pennsylvania and Delaware | Fort Washington | In partnerships and joint ventures: $329M |
| Iron Workers Pension Plan of Western Pennsylvania | Pittsburgh | In partnerships and joint ventures: $68M |
| Laborers District Council of W Pa Pension Fund | Pittsburgh | In partnerships and joint ventures: $55M |
| Laborers Local 57 Industrial Pension Plan | Philadelphia | In partnerships and joint ventures: $115M |
| Laborers' District Council Construction Industry Pension Fund | Philadelphia | In partnerships and joint ventures: $369M |
| National Elevator Industry Pension Plan | Newtown Square | In partnerships and joint ventures: $4.2B |
| Pension Fund for Hospital and Health Care Employees, Philadelphia and Vicinity | Philadelphia | In partnerships and joint ventures: $131M |
| Plumbers Local Union No. 690 Pension Fund | Philadelphia | In partnerships and joint ventures: $89M |
| Sheet Metal Workers Pension Fund of Local Union No. 19 | Philadelphia | In partnerships and joint ventures: $156M |
| Steamfitters Local #449 Pension Plan | Harmony | In partnerships and joint ventures: $38M |
| Steamfitters Local Union No. 420 Pension Plan | Philadelphia | In partnerships and joint ventures: $95M |
| Steelworkers Pension Trust | Pittsburgh | In partnerships and joint ventures: $623M |
| Teamsters Local 830 Pension Plan | Philadelphia | In partnerships and joint ventures: $72M |
| Western Pa Electrical Employees Pension Trust Fund | Pittsburgh | In partnerships and joint ventures: $78M |
| Western Pennsylvania Teamsters and Employers Pension Fund | Pittsburgh | In partnerships and joint ventures: $147M |
| Allegheny Technologies Incorporated Master Pension Trust | Pittsburgh | In partnerships and joint ventures: $76M |
| Arconic Corp. Pension Plans Master Trust | Pittsburgh | In partnerships and joint ventures: $360M |
| Cigna Pension Plans Trust | Philadelphia | In partnerships and joint ventures: $631M |
| Constellation Pension Master Trust - Comed - Peco Saf | Kennett Square | In partnerships and joint ventures: $28M |
| Constellation Pension Master Trust - Legacy Real Estate | Kennett Square | In partnerships and joint ventures: $76M |
| Constellation Pension Master Trust - Non Directional | Kennett Square | In partnerships and joint ventures: $116M |
| Constellation Pension Master Trust - Private Equity Legacy | Kennett Square | In partnerships and joint ventures: $162M |
| Constellation Pension Master Trust - Private Equity New | Kennett Square | In partnerships and joint ventures: $391M |
| Constellation Pension Master Trust - Real Estate New | Kennett Square | In partnerships and joint ventures: $324M |
| Constellation Pension Master Trust - Return Generating Fixed Income | Kennett Square | In partnerships and joint ventures: $109M |
| Howmet Aerospace Retirement Plans Master Trust | Pittsburgh | In partnerships and joint ventures: $209M |
| Lincoln National Corporation Employees Retirement Trust | Radnor | In partnerships and joint ventures: $74M |
| Pension Plans Master Trust for Alcoa USA Corp. | Pittsburgh | In partnerships and joint ventures: $110M |
| PPG Industries, Inc. Pension Plan Trust | Pitsburgh | In partnerships and joint ventures: $71M |
| PPL Services Corporation Master Trust | Allentown | In partnerships and joint ventures: $311M |
| Tyco Electronics Defined Benefit Plans Master Trust | Berwyn | In partnerships and joint ventures: $179M |
| Unisys Master Trust | Blue Bell | In partnerships and joint ventures: $276M |
| UPHS Rap Pool | Philadelphia | In partnerships and joint ventures: $1.2B |
| UPMC Master Trust | Pittsburgh | In partnerships and joint ventures: $1.4B |
| Vought Aircraft Industries, Inc. Master Defined Benefit Trust | Radnor | In partnerships and joint ventures: $130M |
| Wellspan Health Pension Trust | York | In partnerships and joint ventures: $27M |
| Appalachian Assistive Technology Loan Fund, Inc. | King of Prussia | Community development loan fund in King of Prussia, PA, certified by the US Treasury’s CDFI Fund. |
| Asian Bank | Philadelphia | Community development bank or thrift in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| ASSETS Lancaster | Lancaster | Community development loan fund in Lancaster, PA, certified by the US Treasury’s CDFI Fund. |
| BEECH CAPITAL VENTURE CORPORATION | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Bridgeway Capital, Inc. | Pittsburgh | Community development loan fund in Pittsburgh, PA, certified by the US Treasury’s CDFI Fund. |
| Chester County Economic Development Council | Exton | Community development loan fund in Exton, PA, certified by the US Treasury’s CDFI Fund. |
| Community First Fund dba Finanta | Lancaster | Community development loan fund in Lancaster, PA, certified by the US Treasury’s CDFI Fund. |
| Economic Opportunities Fund | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Enterprise Center Capital Corporation, The | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Enterprise Development Fund of Erie County | Erie | Community development loan fund in Erie, PA, certified by the US Treasury’s CDFI Fund. |
| Entrepreneur Works Fund | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Impact Loan Fund, Inc. | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Invest PGH Inc. | Pittsburgh | Community development loan fund in Pittsburgh, PA, certified by the US Treasury’s CDFI Fund. |
| JARI Growth Fund, Inc. | Johnstown | Community development loan fund in Johnstown, PA, certified by the US Treasury’s CDFI Fund. |
| Lakeview Community Capital, LLC | Horsham | Community development loan fund in Horsham, PA, certified by the US Treasury’s CDFI Fund. |
| Landmarks Community Capital Corporation | Pittsburgh | Community development loan fund in Pittsburgh, PA, certified by the US Treasury’s CDFI Fund. |
| Neighborhood Community Development Fund | Pittsburgh | Community development loan fund in Pittsburgh, PA, certified by the US Treasury’s CDFI Fund. |
| Neighborhood Housing Services of Greater Berks, Inc. | Reading | Community development loan fund in Reading, PA, certified by the US Treasury’s CDFI Fund. |
| North Philadelphia Financial Partnership | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Pennsylvania Assistive Technology Foundation | King of Prussia | Community development loan fund in King of Prussia, PA, certified by the US Treasury’s CDFI Fund. |
| Philadelphia Accelerator Fund | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| PIDC Community Capital | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Progress Fund, The | Greensburg | Community development loan fund in Greensburg, PA, certified by the US Treasury’s CDFI Fund. |
| Reinvestment Fund, Inc., The | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Renewable Manufacturing Gateway dba Community Growth Fund | Pittsburgh | Community development venture capital fund in Pittsburgh, PA, certified by the US Treasury’s CDFI Fund. |
| Rising Tide Community Loan Fund | Bethlehem | Community development loan fund in Bethlehem, PA, certified by the US Treasury’s CDFI Fund. |
| TENFOLD COMMUNITY LENDING | Lancaster | Community development loan fund in Lancaster, PA, certified by the US Treasury’s CDFI Fund. |
| Women's Opportunities Resource Center | Philadelphia | Community development loan fund in Philadelphia, PA, certified by the US Treasury’s CDFI Fund. |
| Ambler Savings Bank | Ambler | 7(a) loans approved, fiscal year 2026: $4.3M |
| Citadel FCU | Exton | 7(a) loans approved, fiscal year 2026: $7.4M |
| Customers Bank | Malvern | 7(a) loans approved, fiscal year 2026: $34M |
| Enterprise Bank | Allison Park | 7(a) loans approved, fiscal year 2026: $13M |
| Fidelity Deposit and Discount Bank | Dunmore | 7(a) loans approved, fiscal year 2026: $5.4M |
| First Commonwealth Bank | Indiana | 7(a) loans approved, fiscal year 2026: $104M |
| First National Bank of Pennsylvania | Greenville | 7(a) loans approved, fiscal year 2026: $61M |
| Firstrust Savings Bank | Conshohocken | 7(a) loans approved, fiscal year 2026: $55M |
| Fulton Bank, National Association | Lancaster | 7(a) loans approved, fiscal year 2026: $120M |
| Hyperion Bank | Philadelphia | 7(a) loans approved, fiscal year 2026: $29M |
| Meridian Bank | Malvern | 7(a) loans approved, fiscal year 2026: $19M |
| Mid Penn Bank | Millersburg | 7(a) loans approved, fiscal year 2026: $15M |
| Northwest Bank | Warren | 7(a) loans approved, fiscal year 2026: $176M |
| QNB Bank | Quakertown | 7(a) loans approved, fiscal year 2026: $4.4M |
| Quaint Oak Bank | Southampton | 7(a) loans approved, fiscal year 2026: $33M |
| The Honesdale National Bank | Honesdale | 7(a) loans approved, fiscal year 2026: $6.8M |
| Univest Bank and Trust Co | Souderton | 7(a) loans approved, fiscal year 2026: $46M |
LPs based in Pennsylvania
Foundations, pension plans, and other LPs here that report the venture funds they hold, by the number they hold. Local LPs often back local managers.
Family offices in Pennsylvania
Family offices registered with the SEC as investment advisers, from the Family Office Index. Most family offices are exempt from registering and aren’t on this list.
| Family office | City | Regulatory assets |
|---|---|---|
| Callan Family Office, LLC | Radnor | $10.2B |
| Glenmede Investment Management, LP | Philadelphia | $6.2B |
| Pitcairn | Conshohocken | $5.9B |
| Collective Family Office, LLC | York | $533M |
| Morton Brown Family Wealth LLC | Allentown | $483M |
| Avantra Family Wealth, INC. | Mechanicsburg | $222M |
About the data
An adviser’s state is where its Form ADV says its main office is. A fund-index firm is placed by the headquarters city the index lists, or by its Form ADV when the city doesn’t tell. Capital sources, LPs, and family offices are placed by the address their own register gives. Angel investors who list themselves are at hottub.vc/investors. Organizations only: no individuals are listed here, and a listing is a public record, not a recommendation. See the methodology.