New $10M Fund with Drexel Ventures; Partnership with ic@3401


Big things are happening with Drexel, ic@3401, and Ben Franklin.

Yesterday, we announced two significant developments: our launch of the Drexel Ventures-Ben Franklin Seed Fund; and Ben Franklin’s residence at ic@3401.

The high-level details:

  • To form the $10M fund for seed and early stage investment in Drexel technologies, Drexel Ventures is raising $5M, and Ben Franklin is matching with $5M.
  • Ben Franklin has joined the ic@3401 community, offering a variety of services and support for companies, including industry consulting, market analysis and access to capital. Our friends at Safeguard Scientifics, now sustaining members of ic@3401, will also have an office there.

Here’s the full press release:

Ben Franklin Technology Partners Joins ic@3401 and Drexel to Boost Startup Resources in University City

And here’s a roundup of press coverage so far: