New York Ventures: Venture Capital Investment in New York State

Investing in diverse entrepreneurs and high-growth companies to support New York’s innovation ecosystem

New York Ventures partners with diverse teams that are using technology to solve important challenges in areas of strategic interest and importance. We actively look to provide greater access to venture capital for regions, industries and individuals, including women and minority entrepreneurs. Our goal is to build a robust startup ecosystem across New York State, leveraging public and private sector assets.

The state has devoted $100M –with an additional $35 million in SSBCI funding–to a direct investment venture capital fund that is actively deploying capital. New York Ventures also manages three fully deployed venture capital legacy funds, including nine partner funds, that invested in seed and early-stage companies across the state.

New York State Small Business Credit Initiative (SSBCI)

Find out about ESD’s new equity programs through SSBCI, including the $30M Pre-seed and Seed Matching Fund Program, $102M Emerging and Regional Partner Program Fund, and $52M Community and Regional Partner Program Fund.

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INVESTMENT CRITERIA

We invest in exceptional founders from diverse backgrounds who solve large-scale problems using innovative technologies in the following sectors: Climate Technology, Health Tech and Life Sciences, Ag-tech Systems, Advanced Manufacturing, SaaS, Data, and AI and other critical technologies.

APPROACH

Stage: Primarily Seed and Series A rounds
Co-investment: We invest alongside your lead institutional or strategic investor but do not lead rounds ourselves.

COMMITMENT

Our companies make a commitment to building a diverse workforce in New York State, generating new jobs and other economic activity. We also consider companies willing to relocate to New York.

Current Direct Investment Portfolio

Climate Technology: BlocPower, C16 Biosciences, Dimensional Energy, Ecolectro, EkoStinger, EMC, Feedback Solutions, Kintra Fibers, Loliware
Battery Solutions: Conamix, GDI, Sionic, Urban Electric Power
Health Tech: Cureatr, Fesarius Therapeutics, Hopscotch, JelikaLite, Juno Medical, Leda Health, MyMee, MyndYou, SimpliFed, UniteUs, Vyv, Wesper, Yuvo Health
Biotechnology: ENB Therapeutics, Envisagenics, Forkhead Biotherapeutic, Inso Biosciences, NeuroGenesis, OncoPrecision, Zetagen
SAAS, Data & AI: Bounce Imaging, CAHill TECH, 8B Finance, Ellevest, Exostellar, Kangarootime, NopSec, Owl.AI, The Cru, Qunnect, Redist, ShearShare, Token, Ursa Space Systems, WYL
Agricultural Technology: Somadetect
Advanced Manufacturing: Mosaic Microsystems, Free Form Fibers, PostProcess, Toggle

Direct Fund Portfolio Exits

Artemis (acquired by iUNU), GiveGab (acquired by EveryAction), Seamless Docs (acquired by Kofile), Concertio (acquired by Synopsys), Kinvolved (acquired by PowerSchool), Tara Biosystems (acquired by Valo Health), RedPin Therapeutics (acquired by Kriya Therapeutics)

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IMPACT

New York Ventures by the numbers:

195 companies

More than 60% located outside of New York City

$100M+

invested by NYS, matched by $350M from the private sector

40.5%

portfolio companies started and/or led by women or minorities

Team

The New York Ventures team has extensive experience as investors and entrepreneurs, with offices in New York City, the Southern Tier and the Capital Region. In addition, we regularly collaborate with our partners within the Small Business and Technology Development Division who help entrepreneurs at all stages of growth and development.

Jennifer Tegan, Managing Director
Silvia Garcia Codony, Assistant Vice President
Heidi Knoblauch, Senior Director
Karan Mehta, Senior Director
Ryoko Nozawa, Senior Director
Clayton Besch, Director
Marcia Mitchell, Director
Josh Nelson, Director
Audrey Chisholm, Investment Associate
Elaine Chen, Project Associate

Legacy Funds

From 2012 to 2019, New York Ventures managed three successful Fund-of-Fund investment vehicles to support private fund partners and their investment activities. The Innovate New York Fund, Minority & Women-Owned Business Investment Fund and Innovation Technology Commercialization Investment Fund have been fully deployed.

Legacy Fund Exits

ACV Auction (SCP Z80 Incubator), American Fuel Power (Excell Partners), Outmatch (Cayuga Venture Fund), Petra Pharma (Partnership Fund of NYC), Plated (ff Venture Capital), SpinCar (Stonehenge Growth Capital), Splyce (Excell Partners), Touchstream (SCP Z80 Incubator)