The New York City Economic Development Corporation (NYCEDC) announced that the NYC Catalyst Fund (NYCCF) has completed deployment of its $40 million in capital, approving investments with eleven fund managers dedicated to social impact, inclusive entrepreneurship, and high-growth sectors such as life sciences, technology, and the green economy. The capital is expected to catalyze over $280 million of follow-on investment into 140 New York City-based companies.
Launched in 2023, NYCCF is an impact investment program designed to deliver measurable social and environmental outcomes while generating financial returns. The program prioritizes fund managers committed to building a presence in New York City and advancing economic opportunities across diverse communities.
NYCEDC President and CEO Andrew Kimball said the fund reflects the city’s innovative approach to economic development. “This investment is supporting hundreds of jobs and generating millions of dollars for New York City,” he said. “NYC Catalyst Fund has demonstrated our ability to be innovative with our investing programs, and we look forward to building on this program’s success.”
The eleven selected fund managers include Antler, Avante Capital Partners, Candide Group, Harlem Capital, HCAP Partners, Maycomb Capital, MetaProp, nvp capital, Open Opportunity Fund, Rethink Education, and Turning Rock Partners. Collectively, these firms bring expertise in venture capital, private credit, and mission-aligned debt financing, with a strong track record of investing in underserved communities and diverse founders.
The Catalyst Fund is already channeling investment into New York City’s growth industries. Partner funds have backed AI startups such as Amulet and PensarAI, climate tech companies like Demex, and health technology innovators including Zeph. These investments align with the city’s broader goals, including building a workforce of 400,000 green economy jobs by 2040 and cementing New York’s role as a global hub for applied AI.
Through these commitments, NYCCF positions New York City at the forefront of impact-driven investment, linking capital deployment with long-term economic growth and inclusive development.
