Community Development Venture Capital Alliance

Penn Ventures Partners
115 Technology Center, University Park, PA 16802-7000
Telephone: (814) 863-4881
Fax: (814) 865-0960
Website: www.cnp.benfranklin.org
Email: info@cnp.benfranklin.org

Key Personnel: Gene Peck, Manager

Established: 2003

Total Committed Capital: $25 million

Amount Invested: not available

Geographic Focus: 34-county region of central and northern Pennsylvania

Background
The day-to-day operations of Penn Venture Partners Fund are managed by Zero Stage Capital of Pennsylvania acting as investment manager for the General Partner, which is a joint venture between Ben Franklin Technology Partners of Central and Northern Pennsylvania, Inc. and Zero Stage Capital. Ben Franklin Technology Partners is a statewide network that fosters innovation to stimulate Pennsylvania's economic growth and prosperity. Operating regionally with four centers strategically located throughout the Commonwealth, Ben Franklin Technology Partners brings together the best of Pennsylvania's people, ideas and technology to serve as a catalyst for advancing the state's technology-based economy.

Social Mission
The Penn Venture Partners Fund is a licensed New Markets Venture Capital Company and seeks to improve the lives of Pennsylvania residents by creating good jobs for low-income and rural people with a special eye to creating opportunities for minorities and for creating jobs with living wages. The creation and retention of good jobs, the successful development of promising start-ups, the growth of established companies, new approaches to community challenges, and a strong economic climate for Pennsylvania are all goals of the Fund.

Investment Information
The Fund invests in a 34-county region of Pennsylvania that is primarily rural and low-income and is primarily interested in manufacturing, energy, software, electronics, or materials related industries. The Fund avoids seed stage investments and will invest in early stage businesses, but most prefers to invest in businesses in later stages of development, with investments typically ranging from $250,000 to $2 million. The PVP Fund will look to co-invest when appropriate.