Investments
3About SCP Buffalo Incubator Innovate NY Fund
SCP Buffalo Incubator Innovate NY Fund is one of a handful of investment entities participating in the Innovate NY Fund. The Innovate NY Fund, launched by Governor Andrew M. Cuomo to spur innovation, job creation and entrepreneurship across New York State, is a $45 million joint venture seed stage equity fund supported by $35 million from the State and a $10 million investment from Goldman Sachs. Seven leading investment entities -- each with a regional and/or industry focus -- are participating and investing the funds across New York State. Innovate NY is expected to leverage up to $450 million in additional private investment for New York's small businesses and will invest in up over 100 new companies.
Latest SCP Buffalo Incubator Innovate NY Fund News
Sep 22, 2015
By FinSMEs City Dining Cards , a Buffalo-based customer-loyalty technology company, raised $1.5m in venture capital. Backers included Rand Capital Corporation (NASDAQ:RAND) which invested $500k, and SCP Buffalo Incubator Innovate NY Fund LP , Buffalo’s first internet-focused technology incubator. The company intends to use the funds to expand the merchant network to new markets across the US and Canada; invest in the technology platform; roll out new features in the City Dining Cards app; and pursue additional enterprise opportunities. Founded in 2011 by Patrick Finan and Marilyn Roach, City Dining Cards operates a platform that allows consumers to discover locally-owned restaurants and other businesses in their neighborhood, save money and earn rewards. From the merchant’s perspective, the product enables small, locally-owned businesses to reach new customers and keep them coming back. It is present in 20 different markets throughout the US and Canada. The app is available to download and use for free from the App Store. FinSMEs
SCP Buffalo Incubator Innovate NY Fund Investments
3 Investments
SCP Buffalo Incubator Innovate NY Fund has made 3 investments. Their latest investment was in Loupe as part of their Series B on September 9, 2015.
SCP Buffalo Incubator Innovate NY Fund Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
|---|---|---|---|---|---|---|
9/22/2015 | Series B | Loupe | $1.5M | Yes | 1 | |
8/10/2015 | Series A - II | |||||
2/4/2014 | Seed VC |
Date | 9/22/2015 | 8/10/2015 | 2/4/2014 |
|---|---|---|---|
Round | Series B | Series A - II | Seed VC |
Company | Loupe | ||
Amount | $1.5M | ||
New? | Yes | ||
Co-Investors | |||
Sources | 1 |
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