“The Fund” is a Woman and Minority Business Owners Investment Fund. Up to $2 million equity investment fund that will support innovation, job creation, and high-growth entrepreneurship throughout New York State (“NYS”). The objective is to invest in early-stage NYS certified Minority-Owned Business Enterprises (“MBEs”) and Women-Owned Business Enterprises (“WBEs”); and Minority- and Women- Owned Business Enterprises (“MWBEs”) that are in emerging technologies and have a proprietary or differentiated product or service.
Investments of up to $500,000 per company for general technology companies (up to $750,000 per company for life-sciences companies) will be made. Private matching funds through additional direct investment or co-investment from other investors at a rate of 2:1 is required.
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