Innovation + Investments
Through its investment arm, the Partnership Fund for New York City, the Partnership has facilitated the growth of New York City’s innovation economy, seeding support for emerging industries until market forces are sufficient to scale them.
Founded by Henry Kravis and capitalized by Partnership member company CEOs and New York’s leaders of business and finance, the Fund invests in entrepreneurs and innovators who contribute to building a more vibrant and inclusive economy.
Sector Development
The expansion of New York City’s innovation economy has benefited from our ability to leverage the resources of the city’s world-class universities, research institutions, philanthropic foundations, financial institutions, and corporations.
Life Sciences
For more than two decades, the Partnership Fund has played a key role in developing New York’s life sciences industry, funding translational research at academic centers and bringing investment together with research, public- and private-sector expertise, and the city’s vast talent pool to support the growth of the sector.
Our 2001 market demand study was the impetus for establishing the Alexandria Center for Life Sciences, addressing the city’s need for commercial lab space. In 2016, a report issued by the Fund incentivized New York City and State to commit over $1.5 billion in public funding, further catalyzing the sector’s growth.
FinTech
The 2008 financial crisis put new pressure on New York City’s standing as a global financial hub. Large banks suddenly lacked budget for internal R&D, and many of their longstanding vendors were unable to keep pace with demand. Recognizing the need for new solutions and a new opportunity for NYC-based startups to provide them, the Partnership Fund collaborated with Accenture to co-found the FinTech Innovation Lab, encouraging large banks to source new technology solutions from the local tech startup community.
Now a global, multi-billion-dollar industry, the program has been critical to establishing — and expanding — New York’s fintech sector. In 2024, NYC-based fintechs raised $6.9 billion in VC funding, 30% more than the $5.3 billion raised by Bay Area fintechs.
Today, with operations in London and Asia-Pacific, the innovation lab model has positioned New York as a leading global fintech center and has been successfully replicated as a blueprint for establishing new industries in urban settings.
public sector innovation
Our public-sector technology innovation labs are aimed at applying new technology to transform the delivery of essential services for all New Yorkers and fostering a culture of innovation at some of New York City’s most important public agencies.
We establish labs in critical sectors where new technology solutions can have the greatest impact. Each year, agency partners identify their most critical challenges, and we invite early- and growth-stage tech companies and entrepreneurs, worldwide, to demonstrate how their tech solutions can address them.
This is technology in the public interest.
Public agencies can discover, assess, and pilot new technology solutions to critical challenges on an expedited basis, and essentially at no cost, helping to foster a culture of innovation and new ways of working that challenge the traditional procurement process.
Innovative tech companies gain exposure to New York City’s public agencies, corporate partners, and investors — and an opportunity to demonstrate their solutions at scale.
Industry leaders get a first look at what some of the world’s most promising tech companies can do.
Every New Yorker benefits from new technologies that contribute to a more livable and resilient city.
Investments
We provide funding and expertise to New York City entrepreneurs and projects aligned with our mission.
As an impact fund, we mobilize the resources of our investors — their capital, expertise, and influence — to accelerate business creation, enable infrastructure, advance technology that serves the public interest, and expand opportunity for all New Yorkers.
Investments Impact
$200M+
invested
184
companies
Since inception, the Partnership Fund has invested more than $200 million in 184 companies, producing solid returns and disproportionate impact for our city.
$94M invested in companies in or serving underserved communities
$56M invested in women- and minority-led businesses
47% invested in NYC's outer boroughs and Upper Manhattan
$42M invested in nonprofits
