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Fund Profile:
Penn Ventures Partners
132 State Street - Suite 200
Harrisburg, Pennsylvania 17101
Telephone: (717) 236-2300
Fax: (717) 236-2350
Website: www.pennventures.com
Email: gpeck@pennventures.com
Key Personnel:
Gene Peck, Director
Dean M. Kline, Deputy Director
Established: 2003
Total Committed Capital: $25 million
Amount Invested: not available
Geographic Focus: 34-county region of central and northern Pennsylvania
Background
Penn Venture Partners, LP is a private equity fund whose objective is to seek capital appreciation primarily through late-stage venture capital investments in companies located within Central and Northwestern Pennsylvania. The Fund, which also identifies and provides operational assistance to companies in a variety of industries, invests in equity and equity-like securities. The Fund’s strategy is to invest in companies that currently have an established product or service and are generating profits or have significant profit potential, but are in need of growth capital that cannot be obtained through traditional capital sources due to lack of collateral or an inadequate capital base. Investments will be made in companies that may or may not be currently backed by a venture capital firm because of the industry, or capital requirement. The Fund expects to hold investments in these companies from two to five years.
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.
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