“Impact Capital 2” is Now Accepting Applications
ROCHESTER, N.Y. (June 27, 2023) – The Impact Capital investor team (Thomas Bonadio, Theresa Mazzullo, Rami Katz, and Scott Friedman) seek to invest in growing companies operating in Upstate N.Y. and throughout the state. The Impact team has announced the formation of a new investment fund, “Impact Capital 2,” and is now accepting applications from companies across the region seeking financial backing to support growth and profitability.
The announcement of this fund follows the success of the firm’s inaugural Impact Capital investment initiative launched in 2018, which raised over $20M in capital for 11 companies across New York State and subsequently helped create more than 11,000 jobs statewide. Notable beneficiaries of the introductory funding campaign included Greenlight Networks, CypherWorx, Viridi Parente, and NeuroGenesis.
“Upstate New York Companies have a need for growth capital in industries like healthcare, energy, environmental, cybersecurity, and more. Impact Capital was founded to be a part of that positive change by helping growing businesses reach their full potential,” said Thomas Bonadio, founder of Impact Capital. “Impact Capital 1 looks like a success for our investors and we look forward to continuing to support changemaking ideas and the availability of new jobs, services and resources across our region through our new fund, Impact Capital 2.”
Growing companies that apply for funding will be assessed through a thorough review process, including a formal business screening, written pitch submission, and finally, an in-person presentation to investors. Impact Capital investors will be placed on the boards of winning businesses and will support their leadership teams in establishing and executing strategic goals.
“The funding we received from Impact Capital 1 in 2018 was critical in driving forward our mission to connect more communities through reliable access to internet,” said Mark Murphy, CEO at Greenlight Networks, which Impact Capital successfully exited at 8.5 times their original investment in 2022. “Not only did their investment allow us to grow our team and realize our goals, but the strategic direction provided by their advisors was invaluable in elevating our business to the next level.”
The firm is in the process of filing for a state matching grant to reach its $15M funding goal for Impact Capital 2.
Entrepreneurs and business leaders eager to take advantage of this funding opportunity can submit an application via https://www.impactcapitalny.com/pitch-us.
ABOUT IMPACT CAPITAL
Founded in 2017, Impact Capital is a venture capital firm that seeks to invest in growing companies operating in Upstate N.Y. that have entered the market and are looking to fund their growth.
