One of the region’s strongest venture capital firms, Radnor’s NewSpring Capital, has made most of its profits by investing in companies outside of the Philadelphia area, writes Joseph DiStefano for the Philadelphia Inquirer.

The firm, founded nearly two decades ago by Mike DiPiano and his partners, is one of only a few local venture capital firms that has managed to get through the dot-com era and the recession of 2008 unscathed. It has also managed to grow in times that were trying for most.

DiPiano and his partners and professionals have invested $1.6 billion in 122 companies, 46 of which they have already sold off. Initially, the firm focused on investing in Philadelphia-area companies. However, the firm has since ventured away from the comfort of home, and is increasingly looking for new opportunities much further away.

This is best illustrated by the firm’s 16 software and other engineering and retail investments from last year. They include only one firm that is based within two hours of Philadelphia, Berwyn’s Advanced Call Center Technologies. The majority of its remaining investments are based at least a few hours’ drive or fly time, spread out across the eastern U.S., from New England to Florida.

Read more about NewSpring Capital’s investments in the Philadelphia Inquirer by clicking here.