Innovate NY Fund

Innovate NY Fund Program

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Objective

Objective

The Innovate NY Fund was designed to provide investment capital in seed stage businesses supporting innovation, job creation and high-growth entrepreneurship throughout New York State (“NYS”).  The program was supported by a $35.6 million from US Department of Treasury grant and $10.3 million from Goldman Sachs.

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Overview

Overview

The Innovate NY Fund operates through a “fund-of-funds” structure in which Venture Capital investment managers were competitively selected to manage the seed-stage investments on a statewide basis. 

Results

Since its launch in December 2012, the Innovate NY Fund has made investments in 81 NYS companies. The Fund's capital was matched with over $323 million in private sector investment funding, yielding more than $277 million in investment capital for these startup and seed-stage companies. This led to the retention and creation of 2,250 job opportunities for NYS.

Participating Investment Entities:

Cayuga Ventures (http://cayugaventures.com
Excell Partners (http://excellny.com)
ff Venture Capital  (http://ffvc.com)
Golden Seeds (https://goldenseeds.com/)
Partnership Fund for New York City (https://pfnyc.org)
SCP Incubators / Z80 Labs (http://www.z80labs.com)
Stonehenge Growth Equity Partners  (https://www.stonehengecapital.com)

Additional Information

The funds have been fully deployed and it is no longer actively investing.

Contact Information

Sharon Rutter
Sr. Director 
[email protected]

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