What is the NYCEF?

NYCEF is the New York City Entrepreneurial Fund.  The City created the $22 million fund – the first of its kind outside Silicon Valley – to be managed by FirstMark Capital to provide promising New York City-based technology startup companies with early-stage capital. New York City Economic Development Corporation contributed $3 million to establish the fund, and FirstMark Capital, a leading New York City-based venture capital firm, will contribute up to an additional $19 million.

What is the Size of Individual Investments?

Entrepreneurial companies can receive up to $750,000 for the first round of investment. 

How Do I Qualify?

In addition to having a commercially viable business model, companies need to meet the following criteria in order to qualify for the NYC Entrepreneurial Investment Fund:

• the company must have its headquarters in New York City and be subject to corporate taxation as a resident of New York City;
• the company’s most senior executive officer must work primarily in New York City;
• the company must be a “technology” or “technology enabled company”;
• the company must not engage in any illegal activity, or engage in the business of firearms, gambling, alcohol, tobacco, or other lines of businesses that would preclude procurement by the City of New York.

How Do I Apply?

You can submit your inquiry and provide additional information about your venture at www.firstmarkcap.com/firststeps.