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Venture Capital
esd.ny.gov/doing-business-ny/venture-capital

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Investments

16

Portfolio Exits

1

Funds

3

About New York Ventures

New York Ventures supports innovations through both direct investments and through a "fund-of-funds" structure.

New York Ventures Headquarter Location

New York, New York,

United States

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Latest New York Ventures News

Excell’s portfolio company Splyce merges with OverActive Media Group to form leading esports brand

Aug 20, 2021

Splyce Inc., an Excell portfolio company, has agreed to be acquired by Toronto’s OverActive Media Group. The deal propels OAM to become one of a handful of organizations in the world to hold a franchise in two premiere leagues—League of Legends and OverWatch. By merging with Splyce, OAM is now a global leader in the esports industry with more than 200 million viewers that is expected to outpace revenue from traditional sports in the coming years. Splyce will retain its management and operations in Rochester, N.Y., becoming a wholly- owned subsidiary of OAM. Excell was among the first investors in Splyce, which was founded in 2015. Excell’s investment was funded by New York Ventures’ Minority and Women-owned Business Investment Fund. “Splyce’s excellent management team and deep industry knowledge compelled Excell to be its first professional investor,” said Rami Katz, chief operating officer of Excell. “Excell’s investment in Splyce was made possible by the Gov. Andrew Cuomo’s fund established specifically for minority/women-led high-tech businesses.” Empire State Development President, CEO and Commissioner Howard Zemsky said, “New York Ventures is proud to support minority and women-owned tech businesses, and its investment in Splyce, through Excell Partners, is a success story that’s led to Splyce’s acquisition by OverActive Media Group and will grow the esports industry in Rochester.” Since its inception, Splyce has established itself as a home to top-level teams across multiple esports titles worldwide. It includes teams in League of Legends, Call of Duty, Rocket League, StarCraft II, Halo, Smite and Paladins with championships across five titles. “Excell was a tremendous resource to Splyce from the start; we would not have been able to acquire our first esports team without Excell,” said Marty Strenczewilk, CEO of Splyce. “In addition to funds, Excell was with us every step of the way, helping negotiate partnerships, set strategy and serve as a trusted advisor in tough times.” About Excell Technology Ventures Excell is a VC fund that invests in seed and early stage high-tech startups in Upstate New York, with the dual mission of generating investor returns and supporting economic development and job creation. Excell’s Portfolio includes investments in medical device, materials, energy, biotech, agtech, imaging, and IT/software ventures across New York State. In 2018, Excell was chosen to manage the $25 million Finger Lakes Forward Venture Capital Fund (FLX Fund) to provide early-venture stage capital investments for startup companies in key high-tech industries. More information is available  here. About New York Ventures New York Ventures is the venture capital investment arm of Empire State Development, New York State’s chief economic development agency. New York Ventures meets the critical capital needs of the state’s innovation economy by providing funding to high- growth startups as they move from concept to commercialization, through early growth and expansion. More information is available  here . You Might Also Like

New York Ventures Investments

16 Investments

New York Ventures has made 16 investments. Their latest investment was in Tara Biosystems as part of their Series A - II on June 6, 2020.

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New York Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/23/2020

Series A - II

Tara Biosystems

$10M

Yes

Alexandria Venture Investments, DEFTA Partners, Lifeforce Capital, Merieux Equity Partners, OMX Ventures, Partnership Fund for New York City, Tachyon Ventures, and Trancos Ventures

5

3/9/2020

Series A

Redpin Therapeutics

$15.5M

Yes

4BIO Capital, Alexandria Venture Investments, Arkin Holdings, Takeda Ventures, and Undisclosed Investors

3

1/16/2020

Seed VC

LOLIWARE

$5.9M

Yes

Better Ventures, Bryan Meehan, CityRock Venture Partners, Closed Loop Partners, Geekdom Fund, H/L Ventures, HumanCo, Magic Hour, and Ocean Solutions Accelerator

4

12/11/2019

Seed VC

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$99M

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10

10/28/2019

Series A

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$99M

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10

Date

6/23/2020

3/9/2020

1/16/2020

12/11/2019

10/28/2019

Round

Series A - II

Series A

Seed VC

Seed VC

Series A

Company

Tara Biosystems

Redpin Therapeutics

LOLIWARE

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Amount

$10M

$15.5M

$5.9M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Alexandria Venture Investments, DEFTA Partners, Lifeforce Capital, Merieux Equity Partners, OMX Ventures, Partnership Fund for New York City, Tachyon Ventures, and Trancos Ventures

4BIO Capital, Alexandria Venture Investments, Arkin Holdings, Takeda Ventures, and Undisclosed Investors

Better Ventures, Bryan Meehan, CityRock Venture Partners, Closed Loop Partners, Geekdom Fund, H/L Ventures, HumanCo, Magic Hour, and Ocean Solutions Accelerator

Sources

5

3

4

10

10

New York Ventures Portfolio Exits

1 Portfolio Exit

New York Ventures has 1 portfolio exit. Their latest portfolio exit was GiveGab on April 16, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/16/2021

Acquired

2

Date

4/16/2021

Exit

Acquired

Companies

Valuation

Acquirer

Sources

2

New York Ventures Fund History

3 Fund Histories

New York Ventures has 3 funds, including Innovate NY Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/7/2015

Innovate NY Fund

$45M

1

8/7/2015

New York State Innovation Venture Capital Fund

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$99M

10

8/7/2015

Minority- and Women-Owned Business

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$99M

10

Closing Date

8/7/2015

8/7/2015

8/7/2015

Fund

Innovate NY Fund

New York State Innovation Venture Capital Fund

Minority- and Women-Owned Business

Fund Type

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Status

Amount

$45M

$99M

$99M

Sources

1

10

10

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