Ben Franklin Technology Partners of Central & Northern Pennsylvania


State College, PA

Project Name

Susquehanna Capital Alliance; Elevating Investment in Rural PA

Award Amount

Federal Share: $412,598
Local Match: $412,603

This EDA investment supports the formation of the Susquehanna Capital Alliance (SCA), which builds on a 2017 EDA i6 Challenge award that supported Ben Franklin Technology Partners of Central & Northern Pennsylvania (BFTP-CNP) in the creation of the 1855 Capital Fund I. This $11 million venture fund, also located in rural Central Pennsylvania, taps into talent within the Penn State University system and has invested in 15 startups, leveraging more than $70 million to date. This project will engage White Rose Ventures—based in York—in the formation of the SCA.

The SCA aims to enhance and promote opportunities for diverse entrepreneurs and investors to contribute to the innovation economy throughout the Commonwealth through the launch of Susquehanna Capital Fund I—a Seed and Series A stage venture capital fund targeted for $20‐30 million. With a 40-year track record investing in Central and Northern PA entrepreneurs and technology startups, BFTP-CNP will contribute to this effort through co-investment, facilitating syndication opportunities, and cultivating a pipeline of investment-ready companies sourced from its predominantly rural service area. Ultimately, the SCA will build on existing regional assets to attract and deploy equity capital necessary to bolster innovation and commercialization efforts already underway within Penn State.