1855 Capital, a new venture fund headquartered in State College, Pennsylvania, announced today that it completed an investment in Pledge It, a sport-based crowdfunding platform founded by a group of Penn State Alumni. This is the first investment completed by 1855 Capital that was founded on the mission of “Investing in the Penn State Community”. 1855 Capital acted as the lead in Pledge It’s investment round which completed its first close with a total of $1.5M in commitments toward a $2.5M total goal.
“We are hyper-focused on empowering our community of athletes to drive social impact and are thrilled to have 1855 Capital’s leadership in this round of investment," said Scott Shirley, co-founder and CEO of Pledge It. “Having a local venture lead has been instrumental in assembling solid financial support as we expand our team here in Central Pennsylvania.”
“Pledge It is a company with a tremendous growth prospects and solid Penn State roots," said Matt Rhodes, Managing Director of 1855 Capital. “We can’t think of a better inaugural investment for 1855 Capital, and are pleased to become a part of the team.”
About 1855 Capital – 1855 Capital is a seed and early stage venture capital fund investing in companies with an affinity to Penn State University, including University Park, Hershey Medical Center, all the Commonwealth campuses and Penn State alumni throughout the U.S. While the Fund has strong ties to the Penn State community, 1855 Capital is privately owned and operated and is not directly affiliated with Penn State. 1855 Capital looks for companies in the areas of Information Technology, Advanced Materials, Fintech, Edtech, and Healthcare and Medical Devices. The team at 1855 Capital offers mentorship and funds for high quality start-ups to ensure their success, for the benefit of our investors, the start-up teams, and the community. To learn more about 1855 Capital Fund, visit http://www.1855capital.com.
About Pledge It – At Pledge It, we believe support for a cause is earned, not given. Our community of athletes are inspired to earn the change they want to see in the world! See how athletes are harnessing the power of sports for social good and join the movement at http://www.pledgeit.org.
