On January 24, the Bucks County Retirement Board and Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) announced the Venture Capital For Bucks County (VC4BC) program. VC4BC is a partnership to invest $4 million in emerging and growing companies, located in or willing to locate in Bucks County, who are developing and commercializing advanced technologies. The announcement was made at the Pennsylvania Biotechnology Center of Bucks County, with introductory remarks from Dr. Timothy Block. Representing Bucks County were Commissioner Chairman Robert G. Loughery, Commissioner Diane M. Ellis-Marseglia, Chief Clerk Lynn Bush and Clerk of Courts Mary Smithson.
“VC4BC is a public/private co-investment partnership, where every Bucks County pension dollar is matched by Ben Franklin. The partnership is part of our new Bucks2Invest initiative, intended to create a one-stop shop for economic development in county government, while increasing the amount of government assistance for businesses,” said Bucks County Commissioner Chairman Loughery.
Chairman Loughery explained that the announcement represents the culmination of a two-year process that also included his fellow Commissioners Charles H. Martin, Ellis-Marseglia and Bucks County Retirement Board members Raymond McHugh and William Snyder. Mr. Loughery added that he is “stoked” to be able to offer this opportunity to Bucks County entrepreneurs.
“VC4BC will increase the amount of seed capital available for the growing number of advanced technology enterprises in Bucks County,” said RoseAnn B. Rosenthal, President and CEO of Ben Franklin.
All VC4BC investment opportunities will be evaluated through Ben Franklin’s technology sector-specific review process, using many of the region’s top technology experts and early stage investors.
A VC4BC investment application briefing will also be held on February 14th at 10:00 a.m., at the PA Bucks County Biotechnology Center. Please visit www.sep.benfranklin.org/vc4bc for more information and to register. For additional information about the program, please contact Terry Hicks, Vice President of the Investment Group for Ben Franklin, firstname.lastname@example.org, 215.972.6700 x3799.