Top 9 VC Firms & Investors in Pennsylvania for Software (2026)

Pennsylvania has a deep bench of software startup investors, from seed-stage VCs in Philadelphia and Pittsburgh to growth-equity and private equity firms that write much larger checks. Below are nine of the most active Pennsylvania-based firms and groups that fund software startups, what they focus on, and how much they typically invest, so you can stop guessing and start pitching smart.

The key is simple: focus on investors whose sector, stage, and track record actually line up with your startup instead of pitching everyone. For the wider field, AngelMatch lists 1,100+ investors in Pennsylvania and more than 40,000 that back software, filterable by investment stage, city, industry and investor type.

Top 9 VC Firms and Startup Investors in Pennsylvania Who Fund Software Startups

Here's a quick table summarizing the list of top investors in Pennsylvania:

Ben Franklin Technology Partners

• Website: benfranklin.org

• Focused Sectors: Early-stage technology firms and established manufacturers.

• Funding Stages: Seed and early-stage investments.

• Notable Investments: Not publicly listed.

• Total Investments: Invested in over 4,500 companies across Pennsylvania.

Established in 1983, Ben Franklin Technology Partners (BFTP) is a statewide Pennsylvania initiative, backed by the state's Department of Community and Economic Development, that supports technology-driven startups and manufacturers. It is not a private VC firm, but it is one of the most active early-stage funders in the state, working through four regional centers, including Innovation Works in Southwestern Pennsylvania.

BFTP focuses on early-stage companies that demonstrate innovative solutions. The investors usually prefer businesses that have strong:

1. Innovation

2. Market Potential (companies targeting sizable and growing markets)

3. Management Team

4. Economic Impact

BFTP's early-stage investments are typically reported in the range of $50,000 to $250,000, though the exact amount varies by region and program.

NewSpring Capital

• Website: newspringcapital.com

• Focused Sectors: Business services, healthcare, technology, and manufacturing.

• Funding Stages: Growth equity, control buyouts, mezzanine debt.

• Notable Investments: Mobiquity, SiteSpect, Vybe, ParkWhiz.

• Total Investments: Over 250 investments.

Founded in 1999 in Radnor, Pennsylvania by Michael DiPiano and Marc Lederman, NewSpring Capital is a prominent private equity firm managing about $3.5 billion in assets.

Their investment criteria focus on companies with scalable business models and solid plans to outperform their competitors. They prefer sectors such as technology, healthcare, and business services, with an interest in software companies that address modern technological challenges.

As a private equity firm, NewSpring invests through growth equity, control buyouts, and mezzanine debt, so its checks run larger and later-stage than a typical seed VC.

First Round Capital

• Website: firstround.com

• Focused Sectors: Technology startups across various industries.

• Funding Stages: Seed-stage investments.

• Notable Investments: Uber, Square, Notion, Roblox, Warby Parker.

• Total Investments: Over 300 companies backed.

First Round Capital is a seed-stage venture capital firm with deep Pennsylvania roots. It was founded in the Philadelphia area in 2004 by Josh Kopelman and Howard Morgan, and it still keeps a Philadelphia office, though its headquarters is now in San Francisco.

The firm focuses on seed-stage investments, typically providing the first institutional funding to help startups develop their products and find market fit. In the tech sector, First Round Capital looks for startups in:

1. Artificial Intelligence and Machine Learning: using AI/ML to create innovative solutions.

2. Fintech Innovations: developing new financial technologies to improve services.

3. Healthcare Technology: creating digital health solutions for better patient care.

4. Enterprise Software: building tools that enhance business operations.

First Round's initial checks vary widely, with reported figures ranging from a few hundred thousand dollars up to several million, and the firm reserves capital for follow-on rounds.

Genacast Ventures

• Website: genacast.com

• Focused Sectors: B2B technology startups, including SaaS, ad tech, big data, and IoT.

• Funding Stages: Seed-stage investments.

• Notable Investments: Invite Media (acquired by Google), DoubleVerify, Datadog.

• Total Investments: About 34 investments since inception.

Founded in 2008 by seasoned entrepreneur Gil Beyda in partnership with Comcast Ventures, Genacast Ventures is a seed-stage venture capital firm with offices in New York City and Philadelphia.

The firm focuses on B2B technology startups across the northeastern United States. Investors usually look for founders with strong execution and business models that can succeed without excessive capital.

To date, Genacast Ventures has made around 34 investments and achieved 10 exits.

It typically invests up to $1 million in seed-stage rounds, either independently or as part of larger funding rounds up to $2.5 million.

SeventySix Capital

• Website: seventysixcapital.com

• Focused Sectors: Sports, media, and entertainment companies.

• Funding Stages: Seed and early-stage investments.

• Notable Investments: N3rd Street Gamers, VSiN (sold to DraftKings), Whistle Sports.

• Total Investments: Over 30 portfolio companies.

Founded in 1999 by Wayne Kimmel, SeventySix Capital is a venture capital firm based in the Philadelphia area that specializes in startups at the nexus of sports, esports, sports betting, and technology.

Kimmel, named a Sports Tech Power Player by the Sports Business Journal in 2022, established the firm to support entrepreneurs driving innovation in these sectors.

Their investor panel prioritizes businesses targeting large and growing markets within the sports and tech sectors, capable of generating strong returns.

SeventySix Capital's check sizes are commonly reported in the range of $250,000 to $1 million.

Riverfront Ventures

• Website: riverfrontventures.com

• Focused Sectors: Early-stage technology companies in southwestern Pennsylvania.

• Funding Stages: Seed and early-stage investments.

• Notable Investments: Aethon, NoWait, JazzHR.

• Total Investments: More than 30 investments.

Established in 2013, Riverfront Ventures is a Pittsburgh-based venture capital fund and the venture arm of Innovation Works, dedicated to investing in early-stage, high-growth technology companies in Southwestern Pennsylvania.

To date, Riverfront Ventures has made more than 30 investments. It focuses on technology companies with high market potential and passionate founding teams, often co-investing rather than relying on crowdfunding.

The firm typically co-invests with other venture capital firms, providing initial investments ranging from $250,000 to $750,000, with total commitments potentially reaching $1.5 million over time.

LLR Partners

• Website: llrpartners.com

• Focused Sectors: Technology, healthcare, education, and financial services.

• Funding Stages: Growth equity, recapitalizations, and buyouts.

• Notable Investments: Edlio, Numotion, TrueCommerce.

• Total Investments: Over 100 investments.

Founded in 1999, LLR Partners is a Philadelphia-based private equity firm specializing in growth capital investments for middle-market companies. It has raised over $7 billion across seven funds.

LLR Partners has invested in over 100 companies since its inception. The team targets companies with a strong focus on profitability and experienced founders, backing businesses that already have stable roots and want to expand further.

The firm typically invests in lower-middle-market companies, providing capital for expansion, acquisitions, and other growth initiatives.

Rittenhouse Ventures

• Website: rittenhouseventures.com

• Focused Sectors: B2B software solutions in healthcare, life sciences, HR, and business services.

• Funding Stages: Early-stage and emerging growth investments.

• Notable Investments: Pieces Technologies, Energage, GSI Health.

• Total Investments: Over 40 companies.

Founded in 2006 by Saul Richter, Rittenhouse Ventures is a Philadelphia-based venture capital firm (formerly Emerald Stage2 Ventures) that specializes in early-stage investments in B2B software companies.

With a focus on the Mid-Atlantic region, the firm supports startups addressing critical challenges in sectors such as healthcare, financial services, and enterprise infrastructure.

Rittenhouse Ventures targets capital-efficient, post-revenue B2B software companies that have achieved market validation and are poised for growth.

The firm generally invests in small financing rounds of roughly $1 million to $3 million.

Robin Hood Ventures

• Website: robinhoodventures.com

• Focused Sectors: High-growth startups across the Greater Philadelphia region (software, life sciences, hardtech, consumer, fintech).

• Funding Stages: Seed and early-stage investments.

• Notable Investments: Proscia, Annovis, ChargeItSpot.

• Total Investments: Over 45 companies since 1999.

Investing for over two decades now, Robin Hood Ventures is a Philadelphia-based angel investment group dedicated to supporting early-stage, high-growth companies. It is an angel group rather than a traditional VC firm, with members investing together in each deal.

The group focuses on early-stage companies with strong management teams, scalable business models, and innovative solutions addressing substantial market needs.

It typically invests in companies seeking seed or Series A funding, generally putting in $250,000 to $1 million and syndicating with venture capitalists, institutions, and other angels.

Pennsylvania Software Startup Investors: FAQ

Wrap-Up:

That's the end of our list of the top 9 investors in Pennsylvania who fund software startups. But great research doesn't stop at websites and portfolio lists. If you want a broader view, our roundup of investors who fund IT startups in Pennsylvania covers more names, and the VC Search Tool lets you filter firms by focus and stage.

Here are 3 underrated ways to go deeper and land that confirmation call for your startup funding:

1. Check the firm's team LinkedIn profiles. You'll often find personal interests, recent activity, or side projects that don't show up on official bios.

2. Attend events where they show up. Local pitch nights, demo days, or university panels are perfect for informal intros.

3. Carry a smart business card. A casual "Here's what I'm building" moment can leave a mark when paired with a crisp QR code or one-liner.

Knowing who writes the check is one thing. Knowing how to get their attention, that's your edge.