About the Partnership Fund
Founded by Henry Kravis in 1996 and capitalized by New York’s leaders of business and finance, The Partnership Fund’s mission is to mobilize our investors’ resources — their money, time and influence — to create jobs, spur new business creation and to expand opportunities to participate in the economy to all of the city’s residents and neighborhoods. Learn more about our investment objectives.
The Fund is an “evergreen” fund — realized gains are continuously reinvested in deserving projects. Since inception, the Partnership Fund has invested in excess of $135 million in over 150 exemplary projects. Our exited and current portfolio companies have and continue to make meaningful impact on local economic growth.
The Partnership Fund engages the city’s business leaders to identify and support promising entrepreneurs in both the for-profit and non-profit sectors. Hundreds of business leaders volunteer their time annually on our sector advisory boards, investment evaluation teams and as judges and mentors in Partnership Fund sponsored programs.
The Partnership Fund invests exclusively in New York City based ventures – both for-profit and non-profit –with an overall job creation priority. Learn about our investment criteria and proposal requirements. Our strategic investment areas are:
Seeding Future Growth: Investing to spur growth in new & emerging tech and innovation sectors in NYC. Current focus includes the fintech, health IT, life sciences and digital manufacturing sectors. $43 million invested since inception.
Expanding Opportunities: Investing to increase economic opportunity for under-served populations and communities and to support minority and women entrepreneurs. $66.5 million invested since inception.
Promoting Public Sector Innovation: Investing to leverage private sector resources and expertise, in partnership with City and State government, to support innovation, infrastructure and sustainability. $26 million invested since inception.
Recognizing the need to spur financial technology innovation in New York City, the Partnership Fund and Accenture launched the annual FinTech Innovation Lab in 2010 to support early and growth stage companies developing cutting edge technology products for the financial services industry. Participants, chosen through a rigorous application process, are paired with leading financial services firms who provide product refinement guidance, beta testing and deployment. They also receive mentorship from highly successful fintech entrepreneurs and have the opportunity to present their companies to potential investors. Graduates to date have raised nearly $75 million in follow on funding.
FinTech Bank Participants: Ally Financial, American Express, Bank of America, Barclays, Capital One, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Guardian Life, JPMorgan Chase, Morgan Stanley, New York Life, UBS, Wells Fargo
FinTech Supporting VC Firms: Bain Capital Ventures, Canaan Partners , Contour Venture Partners, Firstmark Capital, Nyca Partners, Rho Ventures, RRE Ventures, Warburg Pincus
The New York Digital Health Accelerator is an annual program run by the Partnership Fund and the New York eHealth Collaborative (an affiliate of NYS Department of Health) for early- and mid-stage digital health companies developing cutting edge IT solutions in care coordination, patient engagement, analytics and message alerts. The program works to catalyze the growth of jobs and economic activity in the health IT Sector, leveraging the size of the city’s health care delivery system and the $1+B investment by NY State in health IT infrastructure. Through a competitive process, the senior leadership at 23 major hospitals across New York State selects the participants. Each receives $100,000 in funding from an investor syndicate and is paired with hospital executives (who lead product pilots and provide customer feedback) and with a mentor from the investor syndicate. Participants are also provided priority access to the Statewide Health Information Network of New York (SHIN-NY).
NYDHA Participating Hospitals: Aetna, Central NY Health Home Network, Community Healthcare Network, FEGS Health and Human Services System, Greater Buffalo United Accountable Healthcare Network, Hospital for Special Surgery, Hudson River Healthcare, Maimonides Medical Center, MediSys, Memorial Sloan Kettering Cancer Center, Montefiore Medical Center, Mount Sinai Medical Center, NYC Health and Hospitals Corporation, New York Hospital Queens, New York-Presbyterian Hospital, North Shore LIJ Health System, NYU Langone Medical Center, Onondaga Case Management Services, Stony Brook Medicine, United Health Services, Unity Health System, Visiting Nurse Service of New York, Winthrop University Hospital
NYDHA Investors: Baxter Ventures, Deerfield Management Company, Milestone Venture Partners, New Leaf Venture Partners, Partnership Fund for New York City, Safeguard Scientifics
NYDHA Strategic Sponsors: Genentech (A Member of the Roche Group), Infor, Merck Global Health Innovation Fund
NYDHA Industry Sponsors: Pfizer
NYDHA Additional Sponsors: Alexandria Center ™ for Life Science – New York City, Empire State Development, Hughes Hubbard
The NY Fashion Lab is an accelerator program that is the result of a collaboration between the Partnership Fund for New York City, Springboard Enterprises and major fashion retailers, focused on targeting early and growth stage companies that have developed innovations at the intersection of fashion, retail and technology. Program participants will receive unprecedented feedback from major fashion retailers along with the change to refine and beta test their innovations in New York City over the course of the 12-week program.
NYFTL Founding Members: Alex and Ani, ANN INC., The Estee Lauder Companies Inc., J. Crew, KATE SPADE & COMPANY, Li & Fung, Macy’s, Ralph Lauren Corporation
The BioAccelerate program aims to increase the number of biomedical commercial spin outs coming out of New York’s world class academic institutions and to spur business and job creation in the bioscience sector. Filling a critical funding gap in NYC, the program invests in proof-of-concept research (in the form of a grant with participation) and also makes equity investments to help early stage companies.
NYC Seed is a unique public-private partnership initiative which supports seed-stage tech entrepreneurs in New York City. Funding and mentoring from notable entrepreneurs and venture capitalists are provided to help companies move from idea to product, fostering the next generation of NYC tech companies. NYC Seed is a partnership between the Partnership Fund, ITAC, Empire State Development and Polytechnic Institute of NYU.
NYC Seed Partners: ITAC, Empire State Development, Polytechnic Institute of NYU