Rittenhouse Ventures, a Philadelphia, PA-based venture capital firm, closed its second fund at $18m of committed capital.
Investors in Rittenhouse Fund II include Ben Franklin Technology Partners and Innovate in PA, run by the Commonwealth of Pennsylvania, along with individuals—CEOs, investors, and industry experts.
The fund will continue to target investments in capital-efficient, Mid-Atlantic software companies that provide business-to-businesses solutions in healthcare, life sciences, finance, human resources, and general business services. It has already made seven investments including GSI Health, Kynectiv, Workplace Dynamics, Life.io, Haystack Informatics, WealthHub Solutions, and KickUp.
Led by co-founders and managing partners Saul Richter and Bruce Luehrs, the firm also supports portfolio companies through expertise in fundraising strategies, business operations, technical development, and market assessments. Rittenhouse Ventures also takes an active role in board leadership, connects entrepreneurs to its Directors Network, and hosts Portfolio Leaders Forum events.
Over the past eight years, Rittenhouse Ventures, which manages $33 million of assets (AUM), has made 18 total investments in regional software companies. The Rittenhouse Fund I portfolio already included Tabula Rasa Healthcare, Core Solutions, Halfpenny Technologies, and Take the Interview.