Sector Advisory Boards and Volunteers

The Partnership Fund has three Advisory Boards: Energy and InfrastructureHealth Care and Retail & Tourism. Our Advisory Board structure enables us to engage senior business executives in the Partnership Fund’s mission of job creation and economic development for the city of New York.

Advisory Board members are top industry experts drawn from the Partnership for NYC’s extensive network of business leaders. Members volunteer their time and institutional resources to conduct due diligence on investments, monitor and support portfolio companies in targeted areas and to discuss general industry trends and investment theses.

Energy and Infrastructure

The Partnership Fund has been one of the most active investors in the city in sustainable energy technology companies.  We have successfully exited all five of our investments:

  • CPower, Inc., which offered demand response and other energy management services, was acquired by Constellation Energy in 2010
  • EnergyHub (Brooklyn-based) which developed a home energy management system was acquired by Alarm.com in 2013
  • Loans to Solar Energy Systems Holdings, Inc. (Brooklyn-based) and US Energy (Queens-based) were repaid in full
  • OwnEnergy, Inc. (Brooklyn based), a developer of community wind projects, was acquired by EDF Renewable Energy in 2015

We are currently focused on investments in larger scale projects to improve the city’s sustainability infrastructure. In 2015, we invested in NYC Bike Share to support the expansion of this affordable, healthy and eco-friendly transportation alternative into under-served areas of the city in Brooklyn, Queens, and Harlem.

Health Care

The Partnership Fund’s goals with respect to its health care investments are:

  • Catalyzing the growth of jobs and economic activity in two new sectors:
    • Digital Health — leverages the size of the city’s health care delivery system
    • Life Sciences — leverages the extensive, world class biomedical research at the city’s universities
  • Supporting non-profits that develop new models to address the health care needs of New Yorkers, while creating jobs

Current programs include:

  • New York Digital Health Accelerator — a program for growth stage digital health companies where each tech company receives mentorship and feedback from senior tech and clinical executives at major New York health care organizations.  Run in partnership with New York eHealth Collaborative, an affiliate of the NYS Department of Health.

Past programs include:

  • BioAccelerate NYC Prize —  Funding for proof-of-concept biomedical research and early stage life science companies in NYC
  • NYC Tech Connect —  A public-private partnership funded jointly by the Partnership Fund for New York City and the New York City Council with a  mission is to foster the development of a stronger entrepreneurial ecosystem in NYC in the hard sciences (including bioscience, engineering, and material science).

Our current investments which have already resulted in the creation of 8,000 new jobs include:

Past investments have included — Active Health Management (a healthcare information service provider sold to Aetna), Biomedical Research Alliance of New York, c3i, Intra-Cellular Therapies, Quality Health, Royal Health Care (a management services organization launched by two inner city hospitals) and Seaview Senior Living Center (assisted living center in Staten Island).

LIFE SCIENCES INITIATIVE
The Partnership Fund has committed $40 million to New York City’s life sciences sector. In partnership with New York City, New York State and the major academic medical centers, we have spearheaded a public-private partnership to make targeted investments necessary to catalyze the development of a commercial bioscience sector in NYC.  Starting with a market demand study that the Fund released in 2001, the Fund and the City focused initially on raising visibility around the depth and strength of the City’s biomedical research, with the goal of attracting a private developer to build badly-needed wet lab space. Currently there are two commercial bioscience developments underway:

  • Alexandria Center for Life Sciences — In Joining New York State and New York City, the Partnership Fund made a $15 million commitment to the Alexandria Center to help fund this state-of-the-art commercial laboratory complex to further spur biomedical innovation in the city. Capitalizing on the Center’s proximity to the city’s renowned academic, clinical and research institutions and its top-tier entrepreneurial talent and investment capital, early tenants include leading pharmaceutical companies Eli Lilly, Pfizer, and Roche.
  • BioBAT —  up to 500,000 SF of wet lab/biomanufacturing space at the city-owned Brooklyn Army Terminal.  The initial 60,000 SF opened and is geared to early-stage companies.

In June 2016, we released a report which finds that New York’s life sciences industry is uniquely positioned for explosive growth. “New York’s Next Big Industry: Commercial Life Sciences“, which was produced with the help of KPMG, contrasts the strength of the city’s research institutions and top scientists with its relatively small number of start-up companies, venture capital investments, and jobs in life sciences. It calls for public and private actions to develop the facilities and funding needed to capture the economic benefits of New York’s research and clinical assets.

Members of the Partnership Fund’s Health Care Advisory Board:

  • Orlan Boston
    Ernst & Young LLP
  • Noel Brown
    Cantor Fitzgerald & Co.
  • Philippe Chambon
    New Leaf Venture Partners
  • Jon R. Cohen, M.D.
    Quest Diagnostics
  • Barbara Dalton (Chair)
    Pfizer Inc.
  • Howard Fillit
    Alzheimer's Drug Discovery Foundation
  • W. Robert Friedman, Jr.
    Dresner Partners
  • Carl Gordon
    OrbiMed Advisors LLC
  • Anders Hove
    Venrock
  • Rachna Khosla
    Amgen
  • Jeffrey M. Krauss
    PPC Entreprises
  • Joel S. Marcus
    Alexandria Real Estate Equities, Inc.
  • Sharon Mates
    Intra-Cellular Therapies
  • Matthew McAskin
    Evercore Partners
  • Michael McIvor
    Banc of America Securities LLC
  • Lillian Oshva
    New York University Medical Center
  • Todd Pietri
    Milestone Venture Partners
  • Greg Plowman
    ImClone Systems Incorporated
  • Dennis Purcell
    Aisling Capital
  • Amit Rakhit, MD
    Ovid Therapeutics
  • Carlo Rizzuto
    Versant Ventures
  • Erik Schulz
    Medidata Solutions
  • Robert A. Silverman
    F. Hoffmann - La Roche Ltd
  • William Slattery
    Deerfield
  • Geoff Smith
    Digitalis Ventures
  • Bryan Spielman
    Seven Bridges
  • Richard H. Stowe
    Health Enterprise Partners
  • Sean Traynor
    Welsh, Carson, Anderson & Stowe
  • Martin Vogelbaum
    Celgene Corporation

Retail and Tourism

Supporting businesses and non-profits that create jobs for New York’s working and middle class and that bring new economic activity to low income and distressed neighborhoods is an important priority for the Fund.  We have a particular interest in food processing businesses which are capitalizing on growing consumer interest for locally produced food while  providing training and a good career path for entry level workers.

Current food processing investments include:  Hot Bread KitchenKings County Distillery, and Red Rabbit

Current community investments also include:  American Prison Data Systems, Grameen America (Queens), and Shapeways (Long Island City, Queens)

Past non-profit community investments include: Common Ground Community, The Doe Fund (Williamsburg facility), Therapy and Learning Center (Sunset Park), and Trey Whitfield School (Brooklyn)

Investments made to spur new economic activity in low income neighborhoods include:  American Bank Note Building (in the Bronx), Applebee’s Neighborhood Grill Bar (in Bedford-Stuyvesant), Bien Cuit (in Sunset Park, Brooklyn), Dinosaur Bar-B-Que (in Harlem), Greenpoint Manufacturing & Design Center (in Crown Heights), Harbor Experience Companies (in Red Hook), Harlem Lanes (in Harlem), and  Oasis Children’s Services (programs in Bedford-Stuyvesant, East New York and Harlem)

Advisors include:

  • Mark Aaron
    Tiffany & Co.
  • David Barr
    Warburg Pincus
  • Pamela Baxter
    LVMH
  • Cheryl Boyer
    Lodging Advisors
  • Pauline Brown
  • Paul Charron
    Warburg Pincus
  • Mary Anne Citrino
    The Blackstone Group
  • Andrew Conway
    Credit Suisse
  • Dino Fusco
    Goldman Sachs
  • Glenn Goldstein
    Related
  • Peter Hennessy
    Cassidy Turley
  • Evan Janovic
  • Don Jones
    Verite Captial
  • Patti Lee
    Macy's
  • Tarrus Richardson
    IMB Development Corporation
  • Renee Roen
    Estee Lauder
  • Guy Metcalfe
    Morgan Stanley
  • Mitchell Modell
    Modell's Sporting Goods
  • Robert Negron, Sr.
    Luxe Club One
  • Christine Nevin
    Con Ed Solutions
  • Robert Selsam
  • Greg Shaia
    Macquarie Capital
  • Robert Stillman
    CB Richard Ellis
  • James Y. Wohn
    Capital One Bank