Fund continues support of PA-based Innovators
Three of Pennsylvania’s most active early-stage investors have joined forces, and their new fund has just reached its first close. 1855 Capital, in partnership with White Rose Ventures and Ben Franklin Technology Partners of Central & Northern PA, is pleased to announce the first official close of Keystone Innovation Fund II, L.P. on April 3, 2026.
The $30M fund builds on the foundation established by both the 1855 Capital Fund I and the White Rose Impact Fund, continuing to support high-growth technology companies being built across Pennsylvania from the earliest stages of development. Keystone Innovation Fund II is focused on identifying and backing exceptional founders and management teams, with an emphasis on driving long-term value creation through a return-first investment approach.
The fund’s first close reflects strong early support from a diverse group of aligned institutional and individual investors across Pennsylvania. Participants include the Pennsylvania State University, WellSpan Health, York County Community Foundation, Keystone Initiative for Network Based Education and Research, the Arthur J. and Lee R. Glatfelter Foundation, and the Ortenzio Family Office, alongside a number of other institutional, family office, and individual investors.
“We are grateful for the continued confidence and partnership of this exceptional group of investors,” said Keystone Innovation Fund II Partner Alec Galanti. “Their support underscores both the strength of our strategy and the opportunity we see in innovative companies across the Commonwealth.”
“This first close is a meaningful milestone and reflects the depth of support for early-stage innovation in Pennsylvania,” said Matt Rhodes, Managing Partner of 1855 Capital and Partner of Keystone Innovation Fund II. “We look forward to putting this capital to work alongside exceptional founders building the next generation of great Pennsylvania companies.”
With capital now in hand, Keystone Innovation Fund II will begin deploying investments of $50,000 to $500,000 into early-stage technology companies across the Commonwealth. Founders building in Pennsylvania are encouraged to reach out to the investment team, and accredited investors interested in participating in a future close can learn more on the Keystone Innovation Fund II page.
