PhillyInc

The National Venture Capital Association says that 235 venture firms raised $34.7 billion in 2007, the most since 2001. And the fourth quarter proved to be the most lucrative for them when 63 firms - including two from the Philadelphia area - raised $11 billion.
Locally, LLR Partners raised $600 million for its third venture fund. LLR is the private-equity firm in Center City focused on later-stage company. It was started by Ira M. Lubert and several other financial wizards. Today, Lubert presides over a family of funds with more than $3.3 billion in committed capital.
Also, seed- and early-stage investor NextStage Capital L.P. raised $20 million in the fourth quarter to bring the amount under management for its first fund to $25 million. The firm is based in Audubon, Pa., and was started by Terry Williams, Robert Adams and Dan McKinney. Williams was the founder of a recruitment and talent management firm that he later sold to Comsys IT Partners. Adams and McKinney are both former Safeguard Scientifics Inc. executives. - Mike Armstrong