Venture Capital Programs for NYC Entrepreneurs

New York City and New York State have spent the last several years building a funding ecosystem for the people who live and work here. Part of it is venture capital. Public programs write equity checks to early-stage companies, and they invest in the fund managers who back those companies. Alongside them sit private equity, private credit and some of the largest public pension funds in the country, all with a stated interest in New York businesses and New York investors.

Most residents have never heard of these programs. That is the gap this guide is meant to close. If you are building a company in New York, or building an investment firm that backs companies like yours, here is what exists, who qualifies and where to apply.

The state: NY Ventures

NY Ventures is the venture arm of Empire State Development, the state's economic development agency. It is deploying more than $300 million, much of it from the federal State Small Business Credit Initiative. The programs fall into two groups: money for founders and money for fund managers.

Money for founders

Pre-Seed and Seed Matching Fund. The state invests $50,000 to $250,000 in equity, and you match it with at least $1 of qualified private investment for every $1 the state puts in. To qualify, you should be a pre-seed or seed-stage technology company that has raised $2 million or less in dilutive funding before the current round. The state prefers a C-corp with headquarters and at least one C-suite employee in New York, registered to do business in the state and in good standing. Priority sectors include advanced manufacturing, agricultural tech, climate tech, consumer products, data/SaaS/AI, fintech, healthcare, life sciences and medical devices. The program also says it focuses on underserved geographies and on socially and economically disadvantaged founders.

To apply, use the NY Ventures application portal. You will need your lead investor, term sheet, cap table and proof of private funds raised. Read the FAQ first, and check the program page for weekly office hours.

Innovation Venture Capital Fund. A fund of $135 million or more that invests in venture-backable startups from seed through Series B. Details are on the NY Ventures page.

Money for fund managers

Emerging and Regional Partner Program Fund. This is a $102 million fund of funds. NY Ventures matches the private capital you raise, which makes the state an anchor investor in your fund. You qualify if you are raising Fund I, II or III, or you are a regional manager, and you can show you can raise at least $8 million. Program dollars cannot exceed 25% of the other committed capital in your fund. You need the resources and intent to invest in New York companies in technology or high-growth sectors. Applications are accepted on a rolling basis as funds permit, and the Request for Applications is on the program page.

Community and Regional Partner Fund. This is for accelerators, venture studios and incubators. It offers up to $5 million in matching funds from a $52 million pool, at a 1:1 match to private capital. You should have a record of growing and de-risking early-stage companies, a strong network and a way to track and report outcomes. See the program page for the Request for Applications.

The city: NYC Catalyst Fund

The New York City Economic Development Corporation runs its own fund of funds. The NYC Catalyst Fund launched in 2023 with $40 million and has been approved to invest in eleven fund managers. NYCEDC expects it to draw more than $280 million into roughly 140 New York City companies. The city is aiming for market-rate returns alongside measurable impact and local job growth.

Catalyst Fund II followed with $25 million, expected to catalyze more than $125 million. It makes commitments of up to $5 million per manager, invested in private credit and private equity funds. Managers need at least three years of experience running a similar vehicle, a return strategy that generates income for NYCEDC, and a focus on underrepresented founders and on innovation sectors that create good local jobs.

Applications go through the Request for Applications on the City Record. The RFA lists rolling deadlines, so confirm it is still open before you build a submission.

The big checks: public pensions

The largest pools of capital are the state and city pension funds, and both run emerging manager programs.

The New York State Common Retirement Fund's Emerging Manager Program invests in newer, smaller and diverse firms, either directly or through program partners that do the due diligence and recommend managers. It reports $11.6 billion committed. The fund holds an annual Emerging Manager and MWBE Conference, which is the most direct way to meet the team and its partners.

The NYC Comptroller's Emerging Manager Program covers public markets, private equity, real estate, hedge funds and opportunistic fixed income. Several of its programs generally look for managers with under $2 billion in assets. The Comptroller's office asks managers to contact the investment staff and the asset class head with marketing materials, a PPM and a short fund overview.

In February 2026, both comptrollers and other public plans held the second annual Emerging Managers Week. If you are raising a fund, watch for the next one.

What to do with this

The point of all of this is access. New York has built a layered system: direct investment for founders, anchor capital for the funds that back them, and pension money for managers who grow into it. Each layer is designed with New York residents and New York companies in mind.

Founders can ask any investor they pitch whether the fund has a state or city commitment. Those funds have a mandate to invest in New York companies, and many are set up to back founders who get overlooked.

Emerging managers can see a path. A matched commitment from NY Ventures or NYCEDC can help you reach a first close, and a pension relationship built early can follow you from Fund I to Fund III.

Programs change, so confirm current terms on each linked page before you apply. If you want help getting an application together, Startup Advisory Group can walk through it with you at startupadvisorygroup.co/meet.

Looking for non-equity options? See our guides to NYC loan programs and New York pitch competitions, or browse the full Funding Opportunities directory.