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Nyca Partners company logo
Venture Capital
nyca.com

Investments

174

Portfolio Exits

17

Funds

7

About Nyca Partners

Nyca Partners is a venture capital and advisory firm. The firm seeks to invest in seed-stage, early-stage, and later-stage companies and prefers to invest in the financial technology sector. It was founded in 2014 and is based in New York, New York.

Headquarters Location

485 Madison Avenue 12th Floor

New York, New York, 10022,

United States

212-893-1168

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Latest Nyca Partners News

Tenet: Climate Fintech Platform Company Closes Over $30 Million

Nov 28, 2023

Tenet Energy – a climate fintech platform that helps consumers and businesses drive electric vehicles (EVs) for less – recently announced that it has closed a funding round of over $30 million, including over $10 million in Series A investment and a $20 million warehouse debt facility. Led by Nyca Partners, the Series A funding round will fuel the growth of Tenet’s industry-leading EV financing product. It will also scale TenetConnect, the company’s newly launched digital renewable energy platform, which reduces charging costs on EV owners’ utility bills. New and existing investors, including Assurant Ventures and Giant Ventures, also participated in the round. Silicon Valley Bank provided the $20 million warehouse debt facility, and it will support Tenet’s continued capacity to fund EV loans for consumers and businesses. Available now, TenetConnect is a first-of-its-kind suite of technology features built into every Tenet customer’s account at no additional cost. Enrolled customers can connect their car with Tenet’s innovative charging service to lower their EV charging costs by an estimated additional $40 per month. TenetConnect also provides insights into how to realize financial and carbon emission savings. Since launching just over a year ago, Tenet helped increase EV adoption and avoid over 5,000 tons of estimated carbon dioxide emissions annually. Now the company serves thousands of EV owners nationwide, offering customers an easy and affordable way to finance and own everything for an EV. Tenet strategically utilizes unique EV attributes for financing, including government tax credits, residual value data, and home charger installation. As Tenet continues growing, it plans to add financing for solar panels, home batteries, and other energy-efficiency products on top of its bundled EV loans to create an all-in-one platform for home electrification. This current funding round follows an initial seed funding announced in 2022, led by Giant Ventures and Human Capital, with participation from Breyer Capital, Firstminute Capital, Global Founders Capital, and prominent angel investors. Tenet has raised over $100 million in committed loan funding across loan sale and warehouse financing partners. KEY QUOTES: “Our mission is to help our customers save money by electrifying their lives and serve as the financial fabric of the energy transition. Helping customers affordably purchase EVs is just the first step in our journey. With the support of partners like Nyca and SVB, we’re able to scale our unique platform in innovative new ways – like TenetConnect – to continue making EV ownership more accessible, affordable, and rewarding.” “Charging costs remain one of the most complex aspects of EV ownership. Electricity rates vary widely across states and utilities, with higher peak pricing that can impact charging expenses. For example, an EV owner in San Francisco charging from 5pm to 8am could pay around $37. But with TenetConnect’s smart charging technology, which optimizes charging based on utility rates and driving patterns, customers can expect to save up to $15 each time they charge at home.” — Alex Liegl, co-founder and CEO of Tenet “Tenet made buying a Tesla a more affordable experience. With its lower monthly rates and recent addition of smart charging, Tenet is helping me save nearly $1,500 per year on my EV ownership costs.” — John Stringer “The lack of customized financing options for electric vehicles creates a roadblock for widespread adoption. Tenet’s EV-first approach makes it easier for drivers to go electric. Tenet packages tax incentives and EV-specific features to bring a comprehensive financing offering to the market. Transparent ownership costs combined with unique ownership data services makes Tenet a clear leader in the market.” — Jeremy Solomon, Partner at Nyca Partners “SVB is committed to building a robust portfolio of climate-forward clients. Tenet equips other financial institutions with scalable access to sustainable, economically attractive investments. Working with Tenet, our support therefore extends to sustainable economies nationwide.” — Brian Foley, Head of Warehouse Finance and Fintech Relationship Management at Silicon Valley Bank, a division of First Citizens Bank

Nov 16, 2023
Tenet Raises $30M

Nyca Partners Investments

174 Investments

Nyca Partners has made 174 investments. Their latest investment was in Tenet as part of their Series A on November 11, 2023.

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Nyca Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/15/2023

Series A

Tenet

$10M

Yes

Assurant Ventures, Giant Ventures, and Undisclosed Investors

2

10/3/2023

Series A

RQD

$10M

Yes

3

8/21/2023

Seed VC

Arkifi

$9M

Yes

1

7/12/2023

Series B

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$99M

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10

7/4/2023

Seed VC - II

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$99M

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10

Date

11/15/2023

10/3/2023

8/21/2023

7/12/2023

7/4/2023

Round

Series A

Series A

Seed VC

Series B

Seed VC - II

Company

Tenet

RQD

Arkifi

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Amount

$10M

$10M

$9M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Assurant Ventures, Giant Ventures, and Undisclosed Investors

Sources

2

3

1

10

10

Nyca Partners Portfolio Exits

17 Portfolio Exits

Nyca Partners has 17 portfolio exits. Their latest portfolio exit was Catch on October 19, 2023.

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

10/19/2023

Management Buyout

$99M

2

5/8/2023

Acquired

$99M

1

2/8/2023

Acquired

$99M

2

12/13/2021

Acquired

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$99M

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10

10/13/2021

IPO

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$99M

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10

Date

10/19/2023

5/8/2023

2/8/2023

12/13/2021

10/13/2021

Exit

Management Buyout

Acquired

Acquired

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

1

2

10

10

Nyca Partners Fund History

7 Fund Histories

Nyca Partners has 7 funds, including Nyca PYNR SPV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/13/2020

Nyca PYNR SPV

$75.61M

1

4/13/2020

Nyca PYNR SPV-II

$99M

10

8/2/2019

Nyca Investment Fund III

$99M

10

1/27/2017

Nyca Investment Fund

$99M

10

12/31/2016

Nyca Investment Fund II

10

Closing Date

4/13/2020

4/13/2020

8/2/2019

1/27/2017

12/31/2016

Fund

Nyca PYNR SPV

Nyca PYNR SPV-II

Nyca Investment Fund III

Nyca Investment Fund

Nyca Investment Fund II

Fund Type

Status

Amount

$75.61M

$99M

$99M

$99M

Sources

1

10

10

10

10

Nyca Partners Team

6 Team Members

Nyca Partners has 6 team members, including current Founder, Managing Partner, John C. Morris.

Name

Work History

Title

Status

John C. Morris

Founder, Managing Partner

Current

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Name

John C. Morris

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Work History

Title

Founder, Managing Partner

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Status

Current

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