By the Numbers
Pool of capital to fund WE Venture
WE Venture is a $30 million public-private partnership to connect New York City-based, women and minority-founded technology startup companies with the venture capital they need to grow and thrive.
Despite the substantial increase in venture capital funding nationally, women and underrepresented minorities represent only a small fraction of the recipients receiving funding.
New York City Economic Development Corporation (NYCEDC) has committed $10 million, alongside $20 million from five venture capital partners, for a total amount of $30 million to be invested over the next five years. Through this initiative, more women and minority entrepreneurs will have access to the capital they need to grow their companies.
The We Venture program will:
- Facilitate investments in NYC startup companies founded by underrepresented groups
- Support job growth and innovation in New York City
- Move the needle toward closing the venture funding gap
WE Venture supports startups that:
- Are founded, owned, or led by women and/or minorities
- Have an NYC-based location
- Are early-stage (ranging from seed stage through Series A)
- Are technology or technology-enabled
WE Venture is an initiative of the Strategic Investments Group (SIG) at NYCEDC. SIG develops customized solutions to help companies lower real estate costs; access capital; and grow, relocate to, or expand within New York City. Whatever your sector or need, SIG will work to help you prosper in New York City.