Ben Franklin Technology Partners

Thesis

Ben Franklin Technology Partners (BFTP) is a statewide non-profit innovation network dedicated to accelerating technological advancement and fostering economic growth across Pennsylvania. BFTP's core mission is to catalyze innovation-driven economic growth within Pennsylvania. They focus on investing in early-stage technology firms and established manufacturers across various sectors, including Information Technology (IT), Healthcare, Biotech, and Physical Sciences. BFTP prioritizes companies based in Pennsylvania or those committed to establishing a significant presence in the state. Their strategy involves de-risking early innovation to attract follow-on private capital, thereby strengthening regional economies and driving job creation. BFTP often acts as a lead investor in early stages and also engages in co-investment and follow-on funding alongside private venture funds and investment partners. The organization operates as a network of four independent non-profit entities, each serving a distinct geographic region of Pennsylvania: Southeastern, Northeastern, Central and Northern, and Southwestern Pennsylvania. This structure allows for localized expertise while adhering to a coordinated statewide strategy. While specific, up-to-date AUM figures for the entire network are not readily available, BFTP has demonstrated significant investment activity. For instance, the Global Opportunity Pennsylvania Fund II, L.P. (GO PA Fund) aims for up to $100 million in capital commitments and had a first close of approximately $28 million. This fund is intended to primarily invest in follow-on rounds for companies already within the Ben Franklin Network. The GO Philly Fund, a prior fund, raised $24.3 million and focused on growth-stage, technology-based enterprises in the Greate

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