Impact Capital announces multi-million-dollar fund to support New York businesses

Andrea Deckert//June 27, 2023//

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Pittsford-based Impact Capital has announced the formation of a new investment fund, Impact Capital 2, with plans to invest up to $15 million in New York-based companies.

The firm – which is now accepting applications – is in the process of filing for a state matching grant to reach its funding goal for Impact Capital 2.

The announcement of the fund follows the success of the firm’s inaugural Impact Capital investment initiative launched in 2018, which raised over $20 million in capital for 11 companies across New York 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.

Thomas Bonadio, Impact Capital’s founder, said upstate New York companies have a need for growth capital in industries such as healthcare, energy, environmental and cybersecurity.

“Impact Capital was founded to be a part of that positive change by helping growing businesses reach their full potential,” Bonadio said. “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 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.

Entrepreneurs and business leaders can submit an application at https://www.impactcapitalny.com/pitch-us.

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