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Empire State Development Corporation

Empire State Development Corporation

U.S economic development governmental organization supporting New York businesses.

Empire State Development Corporation (ESD) is a governmental organization that aims to facilitate business growth and job creation in the state of New York. It is an umbrella organization of two public-benefit corporations focusing on economic development: New York State Urban Development Corporation and the New York Job Development Authority. ESD provides loans, grants, tax credits, real estate development and marketing to achieve this goal. One of ESD’s current program includes a venture capital initiative named New York Ventures.



New York Ventures

New York Ventures is a venture capital that is aimed at high-growth startups based in New York. It focuses on providing funding for companies in these industries: information technology, life sciences, and clean energy. It finances companies through direct investments and funds-of-funds structure.



New York Ventures’ direct investments fund is named Innovation Venture Capital Fund and it focuses on funding companies seeking Series A investments. As of March 2019, it has managed to raise $100 million. Its currently active funds-of-funds as of March 2019 is Innovation Technology Commercialization Fund-of-Funds, which focuses on pre-seed stage companies.

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