New Investors Join Syndicate, Board Members Appointed
SEATTLE AND NEW YORK – Sept. 29, 2015 – Accelerator Corporation, a leading life science investment and management firm, today announced that it has secured an additional $11.7 million in new investment commitments, bringing the final Accelerator IV closing to an oversubscribed $62.8 million. This final closing includes new strategic investments from AbbVie, WuXi PharmaTech, and Watson Fund. These new investors join the previously announced Accelerator IV syndicate, which includes Alexandria Venture Investments, ARCH Venture Partners, Eli Lilly and Company, Harris & Harris Group, Inc., Johnson & Johnson Innovation – JJDC, Inc., The Partnership Fund for New York City, Pfizer Venture Investments and WRF Capital.
The Partnership for New York City and New York Magazine convened a reception and panel discussion on how the convergence of the interests of Wall Street and Silicon Alley are redefining the economy of New York. The event was hosted by Partnership Co-Chair Philippe Dauman at Viacom. The panel featured Partnership members Chad Dickerson, the CEO of Etsy, Inc., Gary Cohn, President and COO of Goldman Sachs & Co., Jon Oringer, Founder and CEO of Shutterstock, Inc., Kevin Ryan, Chairman and Founder of GILT, Business Insider, MongoDB and Zola, and Bob Greifeld, CEO of the NASDAQ OMX Group, Inc. The panel was moderated by New York Magazine Contributing Editor Annie Lowrey. Read More →
Business Supports the Mayor’s Capital Commitment to Add Routes in Areas of City Lacking Public Transit
Wylde: Utilization of Waterways to Supplement and Enhance Mass Transit System is Long Overdue
The Partnership for New York City, which represents the city’s largest private sector employers and business leaders, today endorsed Mayor Bill de Blasio’s five-borough ferry service plan. The Partnership has long argued for expanded ferry service as an efficient and cost-effective way to expand and improve access and mobility in the city, particularly in rapidly developing waterfront communities that are underserved by the current system. The Partnership supports the mayor’s capital commitment and plan to add routes in areas of the city currently lacking other public transit options.
“Governors Christie and Cuomo are to be congratulated for committing to partner with the federal government in development of the new Gateway tunnel under the Hudson. There are a lot of big transportation infrastructure needs in the region, but none is more important for businesses and commuters on both sides of the river than Gateway. The private sector will join with government in development and financing of this project that is essential to the economic future of the region.”
Accelerator Provides Capital Boost and High-Profile Mentoring to Healthcare Technology Startups
A select group of six innovative healthcare startups were chosen today to participate in the third annual New York Digital Health Accelerator (NYDHA), a four-month program run by the Partnership Fund for New York City (Partnership Fund) and the New York eHealth Collaborative (NYeC). The program supports growth-stage digital health companies that are developing cutting-edge technology products for healthcare providers and patients in the areas of care coordination, patient engagement, and workflow improvement. The tech companies will have the unique opportunity to obtain direct access to major customers, such as healthcare organizations and insurance companies, and receive product feedback from senior-level executives representing seventeen leading healthcare providers in New York State.
Partnership Fund portfolio company OwnEnergy — a Brooklyn-based clean energy company — was recently acquired by EDF Renewable Energy, a global leader in renewable energy. The Partnership Fund invested in this early stage company in February 2008 to support the growth of NYC’s clean tech industry. OwnEnergy has since developed a portfolio of mid-sized, locally owned wind farms through its innovative local partner business model.
“The Partnership applauds the decision by Judge Katherine Polk Failla that the federal and state governments, not the city, are the appropriate regulators of the financial industry. Local politics should be kept out of business regulation and, when it comes to the financial sector, city government lacks the infrastructure and the expertise to accomplish that. On the other hand, the banking industry has been and will continue to be responsive to voluntary initiatives to work with the city and its communities to ensure that the goals of the Responsible Banking Act are realized. That should be the focus of the de Blasio Administration’s response to this ruling.”