New York Ventures
New York Ventures is New York State's official venture capital arm under Empire State Development, deploying $300M+ across 122 portfolio companies through four fund vehicles targeting diverse founders and undercapitalized regions statewide.
- Company typePrivate
- Founded2015
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What New York Ventures does
New York Ventures is the official venture capital arm of New York State, administered by Empire State Development (ESD), the state's principal economic development financing entity. Established in 2015, the program deploys state capital to provide equity financing and consulting support to high-growth, venture-backable technology companies across all regions of New York State, with an explicit mandate to expand access to venture capital for underrepresented entrepreneurs (women, minorities, veterans) and undercapitalized geographies. The organization's portfolio comprises 122 companies, 71% of which are diverse-led and 45% located outside New York City.
The program operates a multi-vehicle fund architecture totaling over $300 million in deployed capital: the Pre-seed and Seed Matching Fund ($40M) for earliest-stage startups, the NYS Innovation Venture Capital Fund ($135M+) for Seed through Series B, the Emerging and Regional Partner Fund ($102M) for diverse and emerging fund managers, the Community and Regional Partner Fund ($42M) for accelerator-aligned fund managers, and a New York Ventures Direct Fund for direct equity investment. Capital is sourced from state appropriations and, since 2022, from the federal State Small Business Credit Initiative (SSBCI), which has enabled $106M+ in NYS investment matched by $715M+ in private sector capital. The organization invests directly and indirectly through seven partner funds and sources deals via partnerships with accelerators including 43North (Buffalo), Genius NY (Central NY), and Grow-NY (Finger Lakes), supplemented by four regional offices across the state.
New York Ventures does not generate commercial revenue. Its financial model is programmatic: state and federal capital is deployed into equity instruments in portfolio companies, with policy returns (diversity, regional development, ecosystem building) alongside financial returns. Recent disclosed activity includes participation in CREW Carbon's $25 million Series A (May 2026, cleantech/wastewater) and a portfolio spotlight on inCitu (AR urban planning), which tripled ARR in four months. Leadership is led by Managing Director Jennifer Tegan, supported by an AVP, three Senior Directors, four Directors, and program/operations staff.
New York Ventures firmographics
Firmographics- Name
- New York Ventures
- Legal name
- Empire State Development (operating as New York Ventures)
- Website
- https://esd.ny.gov
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- New York Ventures is New York State's official venture capital arm under Empire State Development, deploying $300M+ across 122 portfolio companies through four fund vehicles targeting diverse founders and undercapitalized regions statewide.
- Ownership category
- akta.pro rank
New York Ventures industry classification
Industry- Product category
- Venture Capital
- NAICS
- Other Investment Pools and Funds (5259), Other Financial Vehicles (525990), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Geography-Focused Venture Capital (Regional/Emerging Markets) (FSANAAAE)
- akta.pro secondary industries
- Early-Stage Venture Capital (Series A/B) (FSANAAAB), Regional / Country-Focused Multi-Manager Platforms (FSANAGAI), Emerging Manager / Seeding Platforms (Multi-Manager) (FSANAGAF)
Keywords
Where New York Ventures is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
New York Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations
Revenue model
- Venture Capital Returns: New York Ventures generates returns through equity investments in startups, providing capital to early-stage technology companies in exchange for ownership stakes. The program aims to build a robust startup ecosystem across New York State while achieving financial returns.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
New York Ventures product offering
Product offeringCore offering
New York Ventures is New York State's official venture capital arm operating under Empire State Development, deploying over $300 million in equity capital to early-stage technology-based businesses through direct investment and indirect investment via partner funds. The program provides venture capital access from pre-seed through Series B stages, with dedicated vehicles for diverse entrepreneurs and undercapitalized regions across New York State.
Product overview
New York Ventures is New York State's official venture capital arm operating under Empire State Development. It is not a single product but rather a portfolio of equity investment programs designed to provide greater access to venture capital for regions, industries, and individuals across New York State. The organization manages over $300 million in capital through four main investment vehicles: the Pre-seed and Seed Matching Fund ($40M) for early-stage startups, the NYS Innovation Venture Capital Fund ($135M+) for Seed through Series B companies, the Emerging and Regional Partner Fund ($102M) for diverse fund managers, and the Community and Regional Partner Fund ($42M) for accelerator partnerships. Since 2015, NY Ventures has invested in 122 companies, with 45% located outside of New York City, and 71% of portfolio companies started and/or led by women, minorities, or veterans.
Differentiator
Problem solved
Functional benefit
Products and services
- Pre-seed and Seed Matching Fund A $40 million fund for investing in venture-backable start-ups at the early stages of their development. Part of New York Ventures' multi-fund strategy to support startups from concept through commercialization.
- NYS Innovation Venture Capital Fund A $135+ million fund for investing in venture-backable startups from Seed through Series B. The largest fund in New York Ventures' portfolio, supporting growth-stage companies.
- Emerging and Regional Partner Fund A $102 million fund for investing in diverse and emerging venture fund managers or managers who invest in undercapitalized regions in NYS. Focuses on increasing diversity in fund management.
- Community and Regional Partner Fund A $42 million fund for investing in venture fund managers who operate or partner with mentor-based programs like accelerators. Supports ecosystem development through accelerator partnerships.
- New York Ventures Direct Fund Direct equity investment program for early-stage technology-based businesses looking to start or grow in New York State.
Quantifiable outcome
- 71% of portfolio companies are diverse-led (women, minorities, veterans)
- +2 more outcomes
Companies that use New York Ventures
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles2 records
New York Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
New York Ventures partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor.
- 43NorthminorBuffalo-based startup competition that attracts innovative entrepreneurs from around the world. New York Ventures participates to source and support high-growth companies in Western New York.
- Genius NYminorWorld's largest UAS business accelerator competition focused on Unmanned Aerial Systems, based in Central New York. New York Ventures engages to support drone technology startups.
- Grow-NYminorFood and agriculture business competition attracting innovative, high-growth startups to grow New York's food and agriculture innovation cluster in the Finger Lakes region.
Scale indicators6 records
Recent moves5 records
Expansion highlights5 records
New York Ventures competitors and assessment
Company assessmentDirect peers
- Connecticut Innovations: State-backed venture capital arm for Connecticut, operating multiple funds to invest in early-stage and growth-stage companies within the state. Directly comparable as a government-affiliated, geography-restricted VC deploying capital through fund vehicles and partner funds.
- MassVentures: Massachusetts' state-affiliated venture capital firm focused on early-stage deep-tech and technology companies. Comparable as a state-level VC with a multi-fund strategy investing in regional startups from seed through Series A.
- Ohio Third Frontier: State of Ohio technology-based economic development program providing capital and support to Ohio-based startups and early-stage companies. Directly comparable as a state-level, geography-restricted venture and growth capital initiative.
- Invest Maryland: Maryland state program channeling capital into venture and growth funds focused on Maryland-based companies. Comparable as a state-administered venture capital program with geographic restrictions and a focus on early-stage companies.
- New Jersey Economic Development Authority (VC Programs): New Jersey state economic development authority operating venture capital and direct investment programs targeting NJ-based startups. Comparable as a state-government-affiliated VC investor operating with regional mandate and stage-diversified fund vehicles.
Broad incumbents
- BDC Capital: Investment arm of the Business Development Bank of Canada, deploying venture and growth capital across multiple fund vehicles. Comparable as a government-backed multi-fund platform operating at much larger scale than New York Ventures.
- In-Q-Tel: Strategic venture capital firm affiliated with the U.S. intelligence community, investing in dual-use and deep-tech startups. Comparable as a government-affiliated, mission-driven VC operating through structured fund vehicles.
Regional players
- Illinois Technology Enterprise Corporation: Illinois state-affiliated organization deploying venture capital into early-stage technology companies within Illinois. Comparable as a geography-restricted, state-backed VC partner-fund structure.
- Cascade Seed Fund: Oregon-based seed-stage fund affiliated with state-supported ecosystem initiatives, focusing on early-stage Northwest startups. Comparable as a regional, fund-of-funds-style seed investor operating in a defined geography.
Others
- SSBCI State Programs (Multi-State): Federal SSBCI program channels funding to state venture capital programs including New York Ventures. Comparable as the umbrella funding source and peer cohort for state-level VC programs deploying capital via SSBCI allocations.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights5 records
Customer concentration
New York Ventures social profiles
Digital presenceNew York Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
New York Ventures leadership team
Management profileNumber of profiles
Profiles12 records
New York Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
New York Ventures M&A and investment
M&A and investmentM&A
Investments156 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about New York Ventures
What does New York Ventures do?
New York Ventures is New York State's official venture capital arm operating under Empire State Development, deploying over $300 million in equity capital to early-stage technology-based businesses through direct investment and indirect investment via partner funds. The program provides venture capital access from pre-seed through Series B stages, with dedicated vehicles for diverse entrepreneurs and undercapitalized regions across New York State.
Is New York Ventures a public or private company?
New York Ventures is a private company. It is classified as state government owned and is currently operating.
When was New York Ventures founded?
New York Ventures was founded in 2015. It employs 1 to 10 people.
Where is New York Ventures based?
New York Ventures is headquartered in New York, United States, in the North America region.
How does New York Ventures make money?
One revenue line is on record: venture Capital Returns.
Who are New York Ventures's main competitors?
Direct peers on record are Connecticut Innovations, MassVentures, Ohio Third Frontier, Invest Maryland and New Jersey Economic Development Authority (VC Programs). Broad incumbents are BDC Capital and In-Q-Tel. Regional players are Illinois Technology Enterprise Corporation and Cascade Seed Fund. SSBCI State Programs (Multi-State) is listed as an others.
Does New York Ventures have an API?
No public API is recorded for New York Ventures.
What industry is New York Ventures in?
New York Ventures's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAE, Geography-Focused Venture Capital (Regional/Emerging Markets), with a secondary code of FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 5259 and its SIC code is 6282.