Philadelphia’s venture capital market posted robust results last quarter, with nearly $643 million raised across 100 deals, reflecting a healthy level of investment similar to pre-pandemic levels. Healthcare and information technology startups saw the highest increases, and AI continues to be a significant focus, aligning with national trends.
Additionally, the average number of deals per quarter has increased by about 23% compared to five years ago, indicating sustained investor interest in the region. Penn spinout Interius, a cell and gene therapy company founded by Saar Gill, PhD, Associate Professor of Medicine (Hematology-Oncology) at Penn Medicine, ranked within the top five 2024 Q2 deals from the Philadelphia region, raising $51 million. Read more here.