Ben Franklin Technology Partners entered into yet another new partnership this week, as the combo economic development organization and early-stage funding firm continues expanding its venture network.
Ben Franklin announced Thursday it’s joining California-based Draper Venture Network’s DVN Beta program, which links seed-stage funds with DVN’s larger network of 17 independent venture funds and more than 500 portfolio companies worldwide.
The partnership comes not long after Ben Franklin announced the First Meeting program it’s been building up in recent months. As part of First Meeting, Ben Franklin aims to draw venture capital firms from across the country into its network and then match those firms with companies in its 200-plus portfolio depending what kind of investments the firm is looking to make. The DVN announcement builds on that effort to foster more connections to venture firms.
“As a nontraditional economic development organization, forging partnerships with a global network like the Draper Venture Network speaks to the momentum Philadelphia is building on the national startup scene,” said Scott Nissenbaum, Ben Franklin’s chief investment officer, in a statement. “Being a part of the network will bring our companies closer to Draper’s global network of venture capital funds and hundreds of corporate partners world-wide.”
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