Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Aid Beyond Trade-offs Impact en las Americas New Revivalists Women Rising in India Operation Impact
Smarter Money Women Rising 2030 Finance Locavesting Inclusive Economy Regeneration Impact Tech New Power Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Industry News Impact Management Good Business Personal Finance Faith and investing Billionaires
Gender Lens Investing Women Rising in India
SDGs Climate Finance Clean Energy Innovative Finance Full Stack Capital Long-termism
Opportunity Zones Investing in place
Entrepreneurship Return on Inclusion Good Jobs Inclusive Fintech Creative economy Housing New Schooled Well Being People on the Move
Conservation Finance Farmer Finance Financing Fish
Blockchain/AI/IoT Urban Tech Food Tech Inclusive Fintech
Human Rights Democracy and Peace News and Information
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States Growth Markets
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Philadelphia leaders commit $15 million to one-stop investor for social startups



Rather than approach investors separately, social startups in Philadelphia can go directly to ImpactPHL Ventures, a new initiative from ImpactPHL, the year-old impact investing advocacy collective of investors, business leaders and non-profits.

The new funding will be used to back Philadelphia-based startups focusing on social, environmental and health issues with about $300,000 each.

Spring Point Partners, Investors’ Circle, Safeguard Scientifics, Independence Health Group, Drexel and Temple universities and the Bucks County Retirement Board put up the funds. The funds will be managed by Ben Franklin Technology Partners, a state-backed early-stage capital provider for Pennsylvania’s tech sector.

Each investor can still opt in or out of each investment, said Margaret Bradley, Ben Franklin’s director of investment partnerships. “It is both about efficiency and about communicating that Philadelphia is the place to be” for impact investing, she said.

ImpactAlpha’s editorial director, Dennis Price, agrees. He and his family have just moved to Philly’s Northern Liberties neighborhood.

You might also like...