Innovation Venture Capital Fund Program
The Innovation Venture Capital ("the Fund") is a $100 million venture capital fund that invests in seed and early stage businesses throughout New York State. The Fund provides critical funding to promote the commercialization of new technologies, encourage job creation and drive economic growth.
- The Fund focuses on Series A investments and considers occasional and opportunistic seed rounds. We provide capital for first-time CEOs and/or founders and consider industry segments and geographic regions not adequately served by the venture community.
- The Fund makes direct equity invests in companies with an emphasis on strategic industries such as information technology, life sciences, clean energy, and advanced manufacturing. Initial investments typically range in size from $500,000 to $1.5 million.
- All investments by the Fund require at least a 2:1 match from private sources at the time of investment.
- Companies must be located in, or agree in writing to be located in NYS and have the potential to generate additional economic activity in the State, and,
- Participate in an emerging technology field and are achieving, or have the potential to achieve, technological advances and innovation.
Industry Investment Focus
Investments are focused on industries where NYS has particular strengths or those that are strategically important. These include:
- Information Technology – hardware, software and technology enabled services
- Life Sciences – pharmaceuticals, diagnostic and medical devices
- Clean energy – energy generation, management and storage
Advanced Manufacturing – materials, processes or equipment