The following is a summary of the Fund’s investments. For more detail on a particular investment, click on the link to the right.
download portfolio brochure (PDF 103K)
 |
| Harlem Lanes |
Website |
harlemlanes.com |
Sector Group |
Retail and Tourism |
Fund Representative |
Jeffrey Gural (Newmark Knight Frank) |
Description |
The Fund provided financing for, Harlem Lanes a start-up African-American/women-owned, 24-lane bowling facility located at 126th Street and Adam Clayton Powell Boulevard, around the corner from the Apollo Theater. Similar to other top-grossing bowling facilities, Harlem Lanes has a restaurant, sports bar, arcade, pro shop, and party rooms catering to individuals, families, and corporations. |
 |
| FeedRoom |
Website |
thefeedroom.com |
Sector Group |
Media and Entertainment |
Fund
Relationships |
Bear Stearns’ Constellation Ventures, Warburg Pincus |
Description |
The FeedRoom provides broadband video solutions allowing companies to communicate more effectively to customers, the media, and its employees. It produces and delivers video content online and builds subscription video services. |
 |
| Greenpoint Manufacturing and Design Center (GMDC) |
Website |
www.gmdconline.org |
Sector Group |
Retail and Tourism |
Fund Relationship |
Sovereign Bank |
Description |
Greenpoint Manufacturing and Design Center (GMDC), a non-profit real estate developer, is renovating a 72,000 square foot industrial building at 221 McKibbin Street in East Williamsburg, Brooklyn to provide small and mid-sized units for light manufacturing and artisanal tenants. Until the late 1990s, the building housed a furniture manufacturing operation that employed between 100 and 120 people. Most of the furniture company’s production and employment has moved to Asia. GMDC’s mission is to help retain manufacturing jobs in the city, and this project will create renovated space at reasonable prices for approximately 25 businesses employing more than 100 people. The project also creates an affordable option for small manufacturers/artisans that are being displaced due to the rezoning of more than 180 blocks in Greenpoint/Williamsburg from industrial to residential.
The Investment Fund’s loan is bridging grants from the Brooklyn Borough President’s office and from the NYC Council Industrial Acquisition Write-Down program, a City Council program established to help mitigate the impact of the Greenpoint/Williamsburg rezoning on industrial businesses. Sovereign Bank is providing the balance of the construction and permanent financing. |
 |
| DataSynapse |
| Sector Group |
Information Technology |
| Description |
With over 50 installations worldwide, DataSynapse continues to deliver significant value to its clients, measuring consistent improvement in areas such as scale, quality of service, speed, cost and competitive advantage. The company's grid computing software has allowed users to: accelerate time-to-market for deploying applications by 60%; experience up to 10 times greater throughput and capacity with no new hardware; generate 25-50 times greater application time-to-results; decrease transaction costs by 90% and reduce go-forward hardware requirements by 30%.
DataSynapse was one of the first grid computing companies to be based in New York. Through its investment in DataSynapse, the Fund supports New York City's competitive advantage in developing technology-based solutions that improve the efficiency and productivity of key industries such as financial services.
Rick Stowe, former partner of Welsh, Carson, Anderson and Stowe, is the fund's liaison to DataSynapse.
<<previous
|
 |
| Creditex |
Website |
creditex.com |
Sector Group |
Information Technology |
Fund
Representative |
|
Description |
Founded in 1999, Creditex is an Internet-based platform for the credit derivatives market. Primary products and services include electronic trading platform for credit derivatives; single name credit default swap brokerage; structured products; credit derivatives data sales; and credit derivatives research and analytics. The company has offices in New York, London and Singapore.
|
 |
| NANIRX Therapeutics, Inc. (NANIRX) |
Website |
www.nanirx-pharma.com |
Sector Group |
Health Care & Sciences |
|
Fund
Relationship |
NGN Capital |
Description |
An early-stage, pre-clinical bio-pharmaceutical company focused on developing technology to enhance the efficacy of existing monoclonal antibody drugs, as well as immuno-therapeutics targeted at treating breast cancer, Hepatitis C and other chronic infectious diseases. The company’s core technology is based on twenty-five years of research by Dr. David Cohen, who was co-chair of the Office of AIDS Research of the National Institutes of Health's HIV vaccine development committee, which in the mid-1990s had oversight over the development of worldwide HIV vaccine trials.
NANIRX is currently headquartered in the Audubon Business & Technology Center (Columbia University’s incubator) in Washington Heights. |
 |
| CPower |
Website |
www.CPower.com |
Sector Group |
Cleantech |
|
Fund
Relationships |
Expansion Capital Partners,
Bessemer Venture Partners |
Description |
In September 2007, NYCIF participated in a $17 Series A Preferred financing round for CPower that was led by Expansion Capital Partners, LLC with co-investors Bessemer Venture Partners, as well as Schneider Electric Ventures and Vantania Holdings. CPower is a leading strategic energy asset management firm whose marketplace innovations have produced millions in energy savings for its large industrial, commercial and residential customers. The Company offers demand management and strategic energy asset management services and helps its clients gain greater control over energy expenditures and generate new sources of revenue. CPower is headquartered in Lower Manhattan. |
 |
| DataSynapse |
Website |
datasynapse.com |
Sector Group |
Information Technology |
Fund Representative |
Rick Stowe (Health Enterprise Partners) |
Description |
Develops grid-computing software enabling enterprise applications in the financial services, government, energy, and industrial sectors to be run on a shared computing infrastructure.
The company’s product has the potential to improve the efficiency and productivity of key New York industries while eliminating costly investment in additional computer capacity. Headquartered in New York, the company’s European headquarters are in London and Asian headquarters are in Tokyo.
|
 |
| Outside.in |
Website |
www.outside.in |
Sector Group |
Media & Communications |
Fund Representatives |
Union Square Ventures |
Description |
Brooklyn-based digital media company that aggregates content from thousands of media sources around the country. The Company is an online resource for those interested in sharing and accessing neighborhood news and local knowledge. Outside.in helps its website visitors discover people, places and conversations in their communities by offering geographically targeted online media and blog content searchable by city, town, zip code, street or address. Local information can be browsed by popular subcategories such as arts and entertainment, bars and clubs, real estate and shopping, and stories can be tracked by topic or neighborhood popularity. Outside.in currently archives more than one million geo-targeted pages from around the web and tracks over 4,000 bloggers and traditional media sources. |
 |
| Orchestria |
Website |
orchestria.com |
Sector Group |
Information Technology |
Fund Relationships |
RRE Ventures, Constellation Ventures |
Description |
An enterprise software company that provides solutions to monitor and manage electronic communications to ensure companies are in compliance with regulatory and corporate guidelines. |
 |
| Independence Care System |
Website |
icsny.org |
Sector Group |
Health Care and Sciences |
Fund Representative |
Jeffrey Krauss (Psilos Group) |
Description |
As the health care and home care industries consolidate in response to cost controls and competitive pressures, small home care providers and the most needy populations are in danger of being left behind. To address both issues, a nonprofit organization named Independence Care System was established to provide managed health and home care to severely disabled, low income patients. In order to meet New York State standards to open their business, however, ICS came to the Investment Fund for financial assistance with reserves and working capital. The Fund has provided both a "soft" loan and business assistance to the organization.
ICS has enrolled over 1,100 members and created over 1,500 home health care aid and administrative positions. The sponsor of ICS is the South Bronx Home Care Cooperative, a provider of home attendant services that is owned by more than 400 workers – most of them women who were former welfare recipients.
|
 |
| Right Track Recording |
| Sector Group |
Media and Entertainment |
| Description |
The main orchestral room (which measures 4,400 square feet with 35-foot ceilings) will be able to accommodate up to 100 musicians. The new studio also contains 4 large isolation booths and a state-of-the-art control room (1,000 square feet with 16-foot ceilings). Right Track's expansion not only provides the important additional infrastructure needed to support the City's film, theater and music industries, but is also expected to produce approximately 100 full-time equivalent jobs for musicians, recording engineers and producers.
<<previous
|
|
| Intra-Cellular Therapies, Inc. |
Website
|
intracellulartherapies.com |
Sector Group
|
Health Care and Sciences |
Fund
Relationship
|
Alafi Capital |
Description
|
A biopharmaceutical company
focused on the development of novel drugs for the treatment of
schizophrenia, depression, Parkinson’s and Alzheimer’s
diseases. The company’s core technology is based on the
scientific work of Dr. Paul Greengard, a Nobel-prize winning
scientist at New York’s Rockefeller University. In June 2007, the company initiated Phase I clinical trials for a series of compounds focused on the treatment of schizophrenia and sleep disorders.
Intra-Cellular Therapies is currently headquartered in the Audubon
Technology Park (Columbia University’s incubator) in Washington
Heights.
|
 |
| Solar Energy Systems Holding, Inc. |
Website |
www.solaresystems.com |
Sector Group |
Cleantech |
Fund Representatives |
John Cavalier (Credit Suisse) and Gary Krellenstein (JPMorgan Chase)
|
Description |
Brooklyn-based, Solar Energy Systems Holding, Inc. is a renewable energy company that specializes in the design and installation of solar electric or photovoltaic (“PV”) systems. The Company’s broad range of services includes: site assessment, system and electrical design, structural analysis, equipment procurement, installation, maintenance and monitoring. The Company also assists in obtaining permits, connecting with existing utilities and securing financing and tax benefits. The Company focuses on the commercial and industrial markets, including small-to-medium sized manufacturing and industrial companies.
|
 |
| TAKKLE |
Website |
www.takkle.com |
Sector Group |
Media and Entertainment |
Fund Representative |
Jean-Philippe Maheu (Chief Digital Officer - North America, Ogilvy & Mather Worldwide) |
Description |
TAKKLE is an online social networking website for high school athletes to share photos, videos and achievements with other athletes, friends/family and college recruiters. TAKKLE provides tools such as “TAKKLE Sheet” which is a one-page snapshot of an athlete’s stats and personal information that can be sent to any college coach. It also provides tools for coaches to communicate efficiently and confidentially with team members, scouts and players including game and practice schedules.
|
 |
| C3i |
Website |
c3i-inc.com |
Sector Group |
Information Technology |
Fund Representative |
Bret Pearlman, Elevation Partners |
Description |
Founded in 1993, C3i is a provider of Internet-enabled Customer Relationship Management (CRM) services, with particular focus on the pharmaceutical industry. In partnership with Siebel Systems, C3i delivers the services a company requires to deploy and manage its CRM solution. C3i has offices in New Jersey, India and Europe. |
 |
| Broadway Digital Entertainment |
| Sector Group |
Media and Entertainment Sector |
| Description |
Broadway is one of New York City’s pre-eminent cultural assets and a magnet for the talent that makes this a world center for theater, film and television. Broadway Digital Entertainment is propagating the “Broadway brand” through digitizing and distribution of Broadway theatrical productions.
BDE’s Broadway Theatre Archive is the world’s largest collection of Broadway plays adapted for television. The Broadway Theatre Archive is the most extensive catalogue of Broadway plays and great works of literature produced for television over the past five decades. Numbering more than 320 classics, the library features many landmark performances including Jason Robard Jr.’s Hickey in The Iceman Cometh and Dame Judith Anderson’s Medea. |
 |
| The First 30 Days |
Website |
www.first30days.com |
Sector Group |
Media and Entertainment |
Fund Relationship |
Hearst Interactive Media |
Description |
First30Days is a media company focused on giving people advice and inspiration as they face life changes, including career (e.g. starting a new job), health/wellness (e.g. facing a major illness, weight loss), personal finance (e.g. buying a new home), and family (e.g. getting married, divorced, being a new mom). Through its interactive website, First30Days provides information, support, and community to those in the midst of life changes, transitions, and decisions. There are currently over 50 life changes featured, with more in the works. In addition to research and commentary from life change experts, the site provides change-specific newsfeeds, interviews, discussion boards and inspirational daily emails. While First30Days has launched its brand on the web, the company’s future growth plans include extending the brand from the Internet to books, mobile devices, television, radio, magazines, and newspapers.
press release (PDF: 82k)
|
![]() |
| Aabco Sheet Metal Company |
Website |
|
Sector Group |
Retail and Tourism |
Fund
Relationship |
Tom Pergola (J.P. Morgan Chase) and
Lowell W. Robinson |
Description |
Founded in 1976, Aabco Sheet Metal Company is a manufacturer and installer of heating, ventilation and air conditioning ("HVAC") systems. NYCIF's investment supports a manufacturing company located in an outer borough that employs approximately 136 people. |
 |
| Vault.com |
Website |
Vault.com |
Sector Group |
Media and Entertainment |
Fund Relationships |
|
Description |
A media company that concentrates in both print and Internet channels on information related to careers and the human resources industry.
Vault provides career information for more than 30 professional industries and focuses on investment banking, law, consulting and media firms, all strongholds in the New York market.
|
 |
| Trey Whitfield School |
Website |
nysed.gov |
Sector Group |
Retail and Tourism |
Fund Representative |
Guy Metcalfe (Morgan Stanley) |
Description |
Trey Whitfield School in East New York in Brooklyn has been an oasis of excellence in education and character building for its students since 1983. After operating out of leased, prefabricated buildings on the grounds of a local church, the school in 2004 purchased a five-story, 60,000 SF building, which is located at 48 Williams Street in East New York. Civic Capital Corporation provided a bridge loan to Trey Whitfield School alongside a permanent financing from a local commercial bank to enable the school to purchase and renovate the new building.
The new facility provides a needed anchor for children and their families in one of the more distressed neighborhoods of the city. The school is not only able expand its enrollment, but now has space for a library, auditorium/lunch room, computer room and athletic facilities, which could not be accommodated in the previous facilities. One of the floors has been leased by the local YMCA, which offers after-school programs for the broader East New York Community.
In 2005, Trey Whitfield School was awarded an Honorable Mention for Unique Community Impact at the Brooklyn Chamber of Commerce’s 2005 Building Brooklyn Awards. |
 |
| SchoolNet |
Website |
schoolnet.com |
Sector Group |
Information Technology |
Fund Relationships |
Sanjay Swani (Welsh, Carson, Anderson & Stowe) and David Gibbs (J.P. Morgan Chase) |
Description |
An enterprise solutions software company servicing K-12 school districts and schools. SchoolNet’s software e nables school districts and schools to obtain, integrate, and analyze student performance data across districts, schools, classrooms, as well as individual students on a real time basis. The company’s management tools help schools improve academic achievement.
|
 |
| Right Track Recording |
| Sector Group |
Media and Entertainment |
| Description |
With the ever-changing entertainment industry and the introduction of new technology within the recording industry, state-of-the-art facilities are essential to maintaining New York's competitive position with other centers of film scoring, such as Los Angeles, Nashville and London.
Right Track Recording LLC, founded by CEO Simon Andrews in 1976, is one of New York City's foremost music recording studios. A world-class facility located in the heart of Manhattan's music district, Right Track provides recording facilities to an eclectic variety of music genres, from classical and jazz, to hip-hop and R&B, to Rock and Pop. With financing from the Fund and Fleet Bank, Right Track has expanded its operations with the construction of an orchestral-size recording facility in midtown Manhattan. Located on West 38th Street in one of the most rapidly developing areas in the City, this 10,000 square foot state-of-the-art facility will be available primarily to record film scores, Broadway musical soundtracks and various other large-scale recording projects.
next >>
|
 |
| Regulatory DataCorp |
Website |
regulatorydatacorp.com |
Sector Group |
Information Technology |
Fund Relationship |
Goldman Sachs |
Description |
Regulatory DataCorp has created an extensive database of publicly available information that can be used to perform automated due diligence aimed at uncovering money laundering, fraud and terrorism-related activities. |
 |
| PartSearch Technologies |
Website |
partsearch.com |
Sector Group |
Information Technology |
Fund Relationship |
Enhanced Capital Partners, CSFB/NYSCRF New York Co-Investment Program Fund |
Description |
PartSearch Technologies Inc., founded in 2001, is an online provider of replacement parts to retailers, manufacturers and service providers in the consumer durable goods market. |
 |
| Oasis Children's Services |
Website |
oasischildren.com |
Sector Group |
Retail and Tourism |
Fund Representative |
Mahmoud Mamdani (Morgan Stanley) |
Description |
A for-profit, Brooklyn-based education company that provides affordable summer enrichment and after-school programs for children ages 4-13 in the New York metro area. In underserved areas, such as Brownsville and East New York, Oasis provides free summer programs that are underwritten by government funding.
|
 |
| OwnEnergy, Inc. ("OE") |
Website |
www.ownenergy.net |
Sector Group |
Cleantech |
Fund Relationship |
Contour Venture Partners |
Description |
Brooklyn-headquartered OwnEnergy is focused on developing a portfolio of mid-sized, locally owned wind farms enabling landowners and communities to build and profit directly from their own local wind farms. OE encourages its local partners to take an active role in local aspects of development, while OE retains primary responsibility for site prospecting, turbine procurement, financing and construction management of locally owned wind farms. Using this approach, OE provides partial ownership and more income to landowners than a typical wind land lease, and allows landowners to remain actively involved in the wind business on their land. The majority of the company's permanent job growth will take place in NYC. The investment is part of NYCIF's strategic goal of supporting the expansion of the cleantech industry in the city.
|
 |
| ImageSpan |
Website |
www.imagespan.com |
Sector Group |
Media & Communications |
Fund Representatives |
Bertelsmann Digital Media and Greycroft Partners |
Description |
ImageSpan provides automated content licensing and settlement services for all types of digital content including photos and videos. Built for the Web 2.0 world of mashups and projects with multiple copyright holders, ImageSpan’s Web-based LicenseStream platform streamlines the process of content acquisition and syndication to dramatically lower costs, speed the time to market for all types of digital content, enable faster development of advertising campaigns and other media creations, and expand revenue opportunities. The Company operates as a managed service. ImageSpan’s technology can also cost effectively integrate with existing digital asset management systems. The Company’s employees are split evenly between NYC and the Bay Area, with the majority of the technology team based in NYC. |
 |
| Common Ground Community |
Website |
www.commonground.org |
Sector Group |
Retail and Tourism |
|
Fund
Relationship |
Deutsche Bank |
Description |
Common Ground Community ("CGC"), one of the largest developers and managers of supportive housing in New York City, has committed to provide an additional 3,000 units over the next 10 years as part of the Bloomberg Administration’s goal of 12,000 new units. In recent years, however, Common Ground has found itself at a disadvantage when competing with for-profit developers for sites that are appropriate for its low income housing facilities. CGC has lost several attractive sites to private developers that had access to more flexible financing.
In mid-2006 several financial institutions and foundations, led by Deutsche Bank and including the New City Investment Fund, came together to create an innovative revolving credit facility that will provide CGC capital for acquisition and pre-development expenses. This capital will allow CGC to be more opportunistic in acquiring potential development sites and to shorten the development cycle by almost 12 months.
Since its inception in 1990, CGC has developed and currently manages seven buildings that house over 1,700 people in permanent and temporary residences in Manhattan. CGC’s first project was The Times Square Hotel in midtown. |
| |
| American Bank Note Building (“ABN”) |
Website |
www.thebanknotenyc.com
|
Sector Group |
Retail and Tourism |
|
Fund
Relationship |
Taconic Investment Partners, Denham Wolf Real Estate Services |
Description |
The Fund provided mezzanine debt to Taconic Investment Partners and Denham Wolf Real Estate Services as part of a financing package that supports the purchase and redevelopment of a historic 405,000 SF, three building facility located in the Hunts Point section of the South Bronx. The development team plans to create an office center for arts organizations, design firms, and nonprofit and community groups. A retail food market also is planned.
The upgraded facility will attract new businesses and organizations that can create jobs and bring new economic activity to this low-income area of the South Bronx. The building also has the potential to serve as an anchor to encourage further redevelopment in the immediate vicinity while providing a more reasonably priced office or performance space option for creative and nonprofit organizations that are getting priced out of the Manhattan market.
The Fund will also make available additional debt financing to assist ABN tenants to fund tenant improvements and/or the expansion of their operations, with preference given to nonprofit tenants.
|
 |
| New York Water Taxi |
Website |
nywatertaxi.com |
Sector Group |
Retail and Tourism |
Fund Representatives |
Michael Lobdell (XL Global Services), Tom Carley (Bank of America), Fred Arnold, Megan Findley (BCG) |
Description |
New York Water Taxi ("NYWT") provides scheduled commuter ferry service to Lower Manhattan from other parts of Manhattan, Queens and Brooklyn, as well as Southern New Jersey. It also connects tourists and locals to neighborhoods, parks and cultural attractions along the West Side, Lower Manhattan and Downtown Brooklyn waterfronts. One cannot miss the Water Taxi in New York Harbor. They have the bright-yellow catamarans sporting black-and-white checks.
Providing growth capital to Water Taxi helps support the City's strategy of increasing water-based transportation options for commuters and tourists. |
 |
| New York Orthopedic Technologies, LLC |
Website |
|
Sector Group |
Health Care and Sciences |
Fund Manager |
|
Description |
A key driver of New York City’s success in developing a vibrant local bioscience cluster will be its ability to retain and grow bioscience companies and to leverage the City’s existing strengths in research and finance. In May 2005, New York Orthopedic Technologies (NYOT) was established to bring together the industry knowledge, expertise, investment experience and capital of its partners with the objective of accelerating the commercial development of disruptive orthopedics-related technologies (including spine, knee and biologics) with large-scale market potential.
NYOT is a three-year collaborative partnership among HSS Ventures (a subsidiary of Hospital for Special Surgery), New Leaf Ventures (formerly Sprout Group), Venrock Associates, NYCIF and Alexandria Real Estate Equities. NYOT seeks to identify and provide seed funding for early stage orthopedic technologies, many of which will likely emerge from the City’s academic and medical research institutions. NYOT also intends to screen technologies from across the U.S. and abroad to identify those with the highest potential for clinical success and expects to invest in 2-3 technologies per year. |
 |
| Marketing Technology Solutions |
Website |
mateso.com |
Sector Group |
Media and Entertainment |
Fund Representative |
Seth Alpert (AdMedia Partners) |
Description |
A marketing services company that employs web-based services to help pharmaceutical and consumer packaged goods companies grow sales by acquiring high-value customers and measuring the effectiveness of their promotional campaigns.
|
 |
| Yellow Jacket |
Website |
www.yellowjacketsoftware.com |
Sector Group |
Information Technology |
Fund Representative |
Contour Venture Partners |
Description |
YellowJacket is a financial technology firm that streamlines, supports and enhances over-the-counter (OTC) energy trading. Its bilateral electronic trading platform, YJ ENERGY, allows its clients to immediately identify and execute lucrative trade opportunities with real-time communication and negotiation tools, RFQ distribution and consolidated, real-time access to proprietary OTC market data. Powered by a global network that includes market makers, investors, hedge funds, utilities and more, YellowJacket preserves the privacy and relationships the OTC markets require while allowing energy trading desks to collaborate, analyze deals and execute trades more efficiently, accurately and profitably.
|
 |
| 7thOnline |
|
Website |
7thonline.com |
Sector Group |
Retail and Tourism |
Fund Representative |
Phil Bleser (J.P. Morgan Chase) |
Description |
A web-based merchandising technology that improves communication between vendors and retailers during the procurement process. 7th Online’s tools facilitate retailers’ orders with vendors, which helps vendors produce product more efficiently.
The apparel industry is important to New York City’s economy and 7th Online offers an opportunity to further enhance the retail sector. |
|