“While we’re always excited about funding new companies for the first time, the theme of Q3 investments was definitely the strong performance that netted our follow-on funding into a half dozen of our portfolio companies.” Marnie LaVigne, president and CEO of Launch NY, said in a release. “On top of that we closed on seven […]
“While we’re always excited about funding new companies for the first time, the theme of Q3 investments was definitely the strong performance that netted our follow-on funding into a half dozen of our portfolio companies.” Marnie LaVigne, president and CEO of Launch NY, said in a release. “On top of that we closed on seven Investor Network deals from our pool of over 150 accredited investors who wanted to join our #InvestLocal activity.”
Launch NY’s nonprofit Seed Fund and for-profit LP Fund provided follow-on investments of $530,000 in total for existing portfolio companies that included Promptous of Syracuse and Antithesis Foods of Ithaca.
Promptous is a prepaid dental-benefit services company for small and medium businesses that require flexibility, simplicity, and affordability.
Antithesis Foods is a food technology company that creates better food by editing characteristics such as texture, taste, and nutritional aspects, and offering healthy, crunchy snack foods like “Grabanzos.”
Besides the companies in Syracuse and Ithaca, one business in Rochester and three in Buffalo also received follow-on investments.
In addition, Launch NY also noted a Rochester firm that received initial investments of $50,000 in total through its nonprofit Seed Fund and for-profit LP Fund:
That company, Iryss of Rochester, is a fintech company providing transparency to fees that investors incur through their investment accounts, while connecting users to vetted financial advisors who can provide similar solutions, but at a reduced cost.
Besides its headquarters in Buffalo, Launch NY also has co-locations with partner organizations in Syracuse, Binghamton, Ithaca, and Rochester. Since 2012, it has helped more than 1,272 companies, per its release.