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Ben Franklin Technology Partners of Central & Northern PA company logo
Public-Private Partnership
BUSINESS PRODUCTS & SERVICES | Consulting & Outsourcing / Management & Strategy Consulting
cnp.benfranklin.org

Investments

213

Portfolio Exits

11

Funds

4

Partners & Customers

1

About Ben Franklin Technology Partners of Central & Northern PA

Ben Franklin Technology Partners/CNP, an initiative of the Pennsylvania Department of Community and Economic Development and funded by the Ben Franklin Technology Development Authority, provides investment capital, operational assistance, and entrepreneurial support to emerging tech-based companies and small, existing manufacturers for the purpose of creating and retaining jobs in the 32 counties of central and northern Pennsylvania.

Headquarters Location

200 Innovation Blvd Suite 150

State College, Pennsylvania, 16803,

United States

814-863-4558

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Latest Ben Franklin Technology Partners of Central & Northern PA News

ERApeutics® Takes a Nut-based Approach to Cognitive Health

Aug 26, 2019

Reveals Plans to Launch BrainMilk® News provided by Share this article LANCASTER, Pa., Aug. 26, 2019 /PRNewswire/ -- Dr. Jordan Balencic and Tessa Balencic, founders of Lancaster-based ERApeutics® today announced their company has received an investment from Ben Franklin Technology Partners for the development and commercialization of a new walnut-based functional beverage, BrainMilk®. ERApeutics® also announced a multi-year research collaboration with Penn State University (PSU), led by Dr. Penny Kris-Etherton, distinguished professor of nutrition at PSU and one of the world's foremost experts on walnut-based nutrition. BrainMilk® is a dairy-alternative functional beverage that incorporates concentrated walnut phytonutrients into a low-calorie, ready-to-drink beverage for cognitive health. Each serving contains 1,200mg of ALA Omega-3s. Product claims associated with BrainMilk® are that a single serving consumed daily will promote memory and support healthy brain function. These claims will be backed by academic studies performed at Penn State University. According to ERApeutics'® CEO Jordan Balencic, DO, BrainMilk® will offer a low-calorie cognitive boost that tastes good. Plans are to have BrainMilk® available for consumer purchase in 2020. "We are pleased to support research that will further ERApeutics'® plans to commercialize unique plant-based dairy-alternative products that are on-trend in the brain-health space and hold the promise of being beneficial to consumers of all ages," said John Sider, Director of Second Stage Capital, Ben Franklin Technology Partners of Central & Northern PA. "We are incredibly excited to have Dr. Kris-Etherton, who specializes in studies of cardiovascular nutrition and cardiometabolic disease, lead the study to independently confirm BrainMilk's cognitive benefits," said Dr. Balencic. "We will run a clinical trial to test the effectiveness of BrainMilk®'s benefits in cognition in elderly people," said Dr. Kris-Etherton. "Our hypothesis is that it will benefit cognition. I'm excited to be part of the BrainMilk® clinical trial because many research studies have shown the multiple health benefits of walnuts as they relate to so many major diseases that affect Americans. Walnuts have been shown to benefit cognition, heart health and diabetes. Our study of BrainMilk® is an amazing opportunity to further advance scientific understanding of nutrition's impact on cognitive brain health. "Walnuts are an amazing source of nutrition. They are high in polyunsaturated fat and are the only tree nut that is high in Omega 3 fatty acids. Too often, Americans have difficulty incorporating walnuts routinely in their diets, especially those people for whom walnuts are hard to chew and digest. BrainMilk® will be a powerful and convenient way to enjoy the health benefits of walnuts," said Dr. Kris-Etherton. "ERApeutics' first product,  Prolimbic 29® , is a supplement that helps people improve mental clarity. ERApeutics' mission is to bring a new era of honesty and science-based transparency to the supplement industry," said Tessa Balencic, whose  ecommerce store ERApeutics.com sells her products as well as other carefully curated supplements. "BrainMilk® will be one of the first cognitive health or functional beverages to be launched with academic research supporting the actual product itself," said Dr. Balencic. "Some beverage companies make claims by citing independent studies on just one or more of the ingredients in the product. We are happy to have earned the Ben Franklin investment to help fund ERApeutics' collaboration with Penn State University, which will result in unbiased research on the actual BrainMilk® product." Information Contact

Ben Franklin Technology Partners of Central & Northern PA Investments

213 Investments

Ben Franklin Technology Partners of Central & Northern PA has made 213 investments. Their latest investment was in Advanced Power & Energy as part of their Grant on October 10, 2023.

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Ben Franklin Technology Partners of Central & Northern PA Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/16/2023

Grant

Advanced Power & Energy

$0.5M

Yes

3

9/20/2023

Unattributed

Next Chapters

Yes

1

9/20/2023

Unattributed

spotLESS Materials

Yes

1

9/20/2023

Unattributed

Subscribe to see more

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10

8/4/2020

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

Date

10/16/2023

9/20/2023

9/20/2023

9/20/2023

8/4/2020

Round

Grant

Unattributed

Unattributed

Unattributed

Seed VC

Company

Advanced Power & Energy

Next Chapters

spotLESS Materials

Subscribe to see more

Subscribe to see more

Amount

$0.5M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

3

1

1

10

10

Ben Franklin Technology Partners of Central & Northern PA Portfolio Exits

11 Portfolio Exits

Ben Franklin Technology Partners of Central & Northern PA has 11 portfolio exits. Their latest portfolio exit was SoftGenetics on June 12, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/12/2023

Acquired

$99M

1

8/9/2022

Acquired

$99M

2

8/9/2022

Acquired

$99M

7/26/2022

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

12/8/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/12/2023

8/9/2022

8/9/2022

7/26/2022

12/8/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

1

2

10

10

Ben Franklin Technology Partners of Central & Northern PA Fund History

4 Fund Histories

Ben Franklin Technology Partners of Central & Northern PA has 4 funds, including Venture Chesco.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/21/2017

Venture Chesco

$4M

1

6/1/2017

Power Component Holdings HG

$99M

10

Philadelphia IT Innovation Fund

$99M

10

Power Component Holdings

$99M

10

Closing Date

12/21/2017

6/1/2017

Fund

Venture Chesco

Power Component Holdings HG

Philadelphia IT Innovation Fund

Power Component Holdings

Fund Type

Status

Amount

$4M

$99M

$99M

$99M

Sources

1

10

10

10

Ben Franklin Technology Partners of Central & Northern PA Partners & Customers

1 Partners and customers

Ben Franklin Technology Partners of Central & Northern PA has 1 strategic partners and customers. Ben Franklin Technology Partners of Central & Northern PA recently partnered with Village Capital on December 12, 2017.

Date

Type

Business Partner

Country

News Snippet

Sources

12/8/2017

Partner

United States

Ben Franklin Recruits Founders for Village Capital Pathways - Ben Franklin Technology Partners

`` UBS is proud to partner with Village Capital and Ben Franklin on this local initiative , '' said Ted Durkin , Managing Director of Wealth Management Americas -- Pennsylvania Market at UBS .

1

Date

12/8/2017

Type

Partner

Business Partner

Country

United States

News Snippet

Ben Franklin Recruits Founders for Village Capital Pathways - Ben Franklin Technology Partners

`` UBS is proud to partner with Village Capital and Ben Franklin on this local initiative , '' said Ted Durkin , Managing Director of Wealth Management Americas -- Pennsylvania Market at UBS .

Sources

1

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