Fundraising FoxEmpire State Development – New York Ventures
Venture capitalNew York · Pre-Seed–Series B · 9 people tracked
Also known as Empire State Development
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Investment thesis
New York Ventures is the venture capital division of Empire State Development, New York State's economic development agency, investing in early-stage and growth-phase startups across the state's innovation sectors.
Source: firm website, verified Jul 21, 2026.
Team · 9 people
from public directories
Fund commitments · as a limited partner · 610
as of Mar 2025Private-fund positions this organization discloses in its own public filings and reports — $130.9B committed, $74.1B reported NAV. Returns are this LP's own position, net of fees.
| Fund | Manager | Vintage | Committed | NAV | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|---|---|
| ICG Exelsior SCSp | Intermediate Capital Group | 2021 | $2.6B | $1.4B | — | 1.20x | 0.08x |
| NYSCRF NB Co-Investment Fund II, LLC | NYSCRF NB Co | 2020 | $2B | $2.1B | — | 1.25x | 0.12x |
| Blackrock Fixed Income Opportunities Nero LLC | BlackRock | 2015 | $2B | $46.2M | — | 1.26x | 1.24x |
| Fixed Income Opportunities NB LLC | Fixed Income | 2015 | $1.5B | $360.3M | — | 1.57x | 1.33x |
| Hudson River Fund II, LP | Hudson River | 2001 | $850M | $25.3M | — | 1.55x | 1.52x |
| NYSCRF NB Co-Investment Fund, LLC | NYSCRF NB Co | 2015 | $800M | $621.1M | — | 2.05x | 1.26x |
| B Capital Global Growth IV, L.P. | B Capital | 2024 | $750M | — | — | — | — |
| Brookfield Global Transition Fund, L.P. | Brookfield Asset Management | 2021 | $750M | $526.7M | — | 1.19x | 0.05x |
| Vista Equity Partners Fund VII L.P. | Vista Equity Partners | 2018 | $750M | $801.4M | — | 1.22x | 0.10x |
| Blackstone Capital Partners V LP | The Blackstone Group | 2006 | $675M | $1.5M | — | 1.65x | 1.65x |
| Ares SSG Capital Partners VI, LP | Ares | 2022 | $650M | $551.6M | — | 1.27x | 0.42x |
| Dawson Partners (Empire), LP | Dawson Partners | 2019 | $650M | $592.8M | — | 3.49x | 0.05x |
| Strategic Value Excelsior Fund, LP | Strategic | 2018 | $650M | $638M | — | 1.41x | 0.21x |
| Whitehorse Liquidity Partners (Empire), LP | Whitehorse Liquidity Partners | 2019 | $650M | $456.5M | — | 1.47x | 0.19x |
| Khosla Ventures Excelsior, LP | Khosla Ventures | 2023 | $600M | $322.2M | — | 1.13x | 0.00x |
| KKR 2006 Fund, L.P. | Kohlberg Kravis Roberts | 2006 | $600M | — | — | 1.69x | 1.69x |
| KKR Americas XII | Kohlberg Kravis Roberts | 2016 | $600M | $739.5M | — | 2.15x | 0.91x |
| KLIM Delta Excelsior Fund LP | — | 2023 | $600M | $424.7M | — | 1.16x | 0.00x |
| KLIM Delta HQC3 LP | — | 2023 | $600M | $308.1M | — | 1.02x | 0.00x |
| Bridgepoint Credit Empire SMA SCSp | Bridgepoint | 2018 | $587.6M | $503.1M | — | 1.71x | 0.86x |
| CVC Capital Partners VIII-A LP | CVC Capital Partners | 2021 | $541M | $575.1M | — | 1.14x | 0.01x |
| New York Legacy Venture Capital Fund, LP | — | 2004 | $502.5M | $229M | — | 1.85x | 1.40x |
| Apollo Excelsior, LP | Apollo | 2022 | $500M | $426.4M | — | 1.15x | 0.44x |
| Blackstone Capital Partners VII LP | The Blackstone Group | 2016 | $500M | $427.1M | — | 1.69x | 0.90x |
| Blackstone Capital Partners VIII LP | The Blackstone Group | 2021 | $500M | $462.2M | — | 1.25x | 0.19x |
| Blackstone Tactical Opportunites Fund - N, LP | The Blackstone Group | 2013 | $500M | $15.5M | — | 1.18x | 1.13x |
| Brookfield Infrastructure Fund IV, L.P. | Brookfield Asset Management | 2019 | $500M | $556.2M | — | 1.51x | 0.41x |
| Global Infrastructure Partners IV | GIP | 2018 | $500M | $518M | — | 1.25x | 0.08x |
| Hellman & Friedman Capital Partners X, L.P. | Hellman & Friedman | 2021 | $500M | $517M | — | 1.17x | 0.12x |
| IFM Global Infrastructure (US), L.P. | IFM Investors | 2012 | $500M | $1.1B | — | 1.81x | 0.27x |
| KKR GLobal Infrastructure Fund IV, (USD) SCSp | Kohlberg Kravis Roberts | 2021 | $500M | $499.7M | — | 1.22x | 0.07x |
| KKR North America Fund XIV | Kohlberg Kravis Roberts | 2025 | $500M | — | — | — | — |
| NYSCRF NB Co-Investment Fund III, LLC | NYSCRF NB Co | 2024 | $500M | $62M | — | 1.00x | 0.00x |
| Oaktree Opportunities Fund Xb | Oaktree | 2018 | $500M | $464.4M | — | 1.69x | 0.45x |
| TPG GP Solutions (A), L.P. | TPG | 2024 | $500M | $139.2M | — | 1.28x | 0.00x |
| Vista Co-Invest Fund 2018-2, LP | Vista Equity Partners | 2019 | $500M | $658.5M | — | 1.08x | 0.02x |
| Vista Credit Partners III, LP | Vista Equity Partners | 2020 | $500M | $473.9M | — | 1.26x | 0.32x |
| Vista Equity Partners Perennial | Avista | 2020 | $500M | $588.8M | — | 1.57x | 0.09x |
| VISTA EQUITY PARTNERS VI, L.P. | Avista | 2016 | $500M | $488.5M | — | 2.05x | 1.27x |
| Apollo Investment Fund IX | Apollo | 2018 | $480M | $465.1M | — | 1.55x | 0.55x |
| New York Legacy Emerging Fund, LP | — | 2004 | $462.9M | $22.1M | — | 1.34x | 1.29x |
| EQT INFRASTRUCTURE VI (NO.2) USD SCSP | EQT | 2023 | $450M | $126.6M | — | 0.96x | 0.03x |
| TA XV, L.P. | TA Associates | 2025 | $450M | $48M | — | 0.89x | 0.00x |
| TA XIV, L.P. | TA Associates | 2021 | $410M | $439.6M | — | 1.13x | 0.04x |
| Access/NY European Middle Market Buyout Fund, LP | Access Capital Partners | 2005 | $405.7M | $562.6K | — | 1.26x | 1.26x |
| Apollo Investment Fund VIII | Apollo | 2013 | $400M | $102.1M | — | 1.42x | 1.17x |
| Apollo Natural Resources Partners II, LP | Apollo | 2015 | $400M | $80.5M | — | 1.26x | 1.06x |
| Blackstone Renewables Supplemental Account-N,LP | The Blackstone Group | 2019 | $400M | $237.8M | — | 1.18x | 0.00x |
| Blackstone Tactical Opportunities Fund II - N, LP | The Blackstone Group | 2015 | $400M | $91.5M | — | 0.54x | 0.33x |
| Blackstone Tactical Opportunities Fund III - N, LP | The Blackstone Group | 2020 | $400M | $406.8M | — | 1.99x | 0.69x |
| Brookfield Capital Partners Fund IV | Brookfield Asset Management | 2015 | $400M | $170.2M | — | 2.41x | 2.04x |
| Brookfield Capital Partners V,L.P. | Brookfield Asset Management | 2019 | $400M | $564.2M | — | 1.68x | 0.37x |
| Ellington Empire Fund, LLC | Ellington Management Group | 2022 | $400M | $418.6M | — | 1.06x | 0.14x |
| Green Equity Investors VIII, L.P. | Green | 2020 | $400M | $507.3M | — | 1.48x | 0.14x |
| Hamilton Lane NY Israel Fund, LP | Hamilton Lane | 2017 | $400M | $546.1M | — | 1.65x | 0.25x |
| KKR Global Infrastructure Investors III | Kohlberg Kravis Roberts | 2018 | $400M | $349.5M | — | 1.47x | 0.56x |
| KKR Infrastructure Investors Fund III, LP | Kohlberg Kravis Roberts | 2018 | $400M | $408.4M | — | 1.44x | 0.31x |
| KKR North America Fund XIII | Kohlberg Kravis Roberts | 2021 | $400M | $361.9M | — | 1.22x | 0.02x |
| NYSCRF Transition Annex Fund, LP | NYSCRF Transition Annex | 2019 | $400M | $207.2M | — | 1.38x | 0.17x |
| Pantheon Real Assets Strategic Opportunities | Pantheon Ventures | 2017 | $400M | $222.5M | — | 1.37x | 0.73x |
| RRJ Capital Master Fund III | RRJ | 2015 | $400M | $130.1M | — | 1.22x | 0.90x |
| Thoma Bravo Fund XII | Thoma Bravo | 2016 | $400M | $420.1M | — | 2.19x | 1.23x |
| Thoma Bravo Fund XIII | Thoma Bravo | 2018 | $400M | $492.3M | — | 1.95x | 0.95x |
| Thoma Bravo Fund XV | Thoma Bravo | 2022 | $400M | $435.4M | — | 1.36x | 0.00x |
| THOMA BRAVO XIV LP | Thoma Bravo | 2020 | $400M | $443M | — | 1.25x | 0.23x |
| Vista Equity Partners Fund V | Vista Equity Partners | 2014 | $400M | $349.1M | — | 2.15x | 1.46x |
| Vista Equity Partners Fund VIII | Vista Equity Partners | 2022 | $400M | $209.7M | — | 1.18x | 0.01x |
| Vista Foundation Fund III | Vista Equity Partners | 2016 | $400M | $342.9M | — | 1.92x | 1.19x |
| CVC Capital Partners IX L.P. | CVC Capital Partners | 2023 | $389.5M | $58.6M | — | 1.00x | 0.00x |
| Strategic Co-Investment Partners, LP | Strategic | 2006 | $380.6M | — | — | 1.38x | 1.38x |
| CVC Capital Partners VII, LP | CVC Capital Partners | 2017 | $378.7M | $497.2M | — | 2.01x | 0.81x |
| PIMCO Specialty Finance Income Fund Onshore Feeder, L.P. | PIMCO Europe | 2023 | $375M | $204.5M | — | 1.11x | 0.02x |
| Empire Opportunistic Secondary Fund LP | — | 2024 | $360M | $463.8M | — | 1.54x | 0.00x |
| Affinity Asia Pacific Fund V, L.P. | Affinity Asia Pacific | 2018 | $350M | $227.2M | — | 1.22x | 0.30x |
| Apollo Excelsior PE Co-Invest, LP | Apollo | 2023 | $350M | $201.8M | — | 1.12x | 0.09x |
| Apollo Investment Fund VI LP | Apollo | 2006 | $350M | $6M | — | 1.48x | 1.47x |
| Apollo Investment Fund VII LP | Apollo | 2008 | $350M | — | — | 1.67x | 1.67x |
| Apollo Investment Fund X | Apollo | 2022 | $350M | $124.9M | — | 1.17x | 0.17x |
| B Capital Growth Fund III, LP | B Capital | 2022 | $350M | $286.1M | — | 1.08x | 0.05x |
| Blackstone Green Private Credit Fund III, LP | The Blackstone Group | 2023 | $350M | $71.5M | — | 1.09x | 0.26x |
| Carlyle/Riverstone Global Energy and Power Fund II | Carlyle Group | 2003 | $350M | — | — | 1.29x | 1.29x |
| Green Equity Investors IX, L.P. | Green | 2023 | $350M | $207.4M | — | 1.12x | 0.03x |
| ISQ Global Infrastructure Fund III (UST), L.P. | I Squared Capital | 2020 | $350M | $293.4M | — | 1.22x | 0.01x |
| ITE Rail Fund, L.P. | Ite Rail | 2024 | $350M | $386.2M | — | 1.10x | 0.00x |
| LCM Partners CO IX, SLP | Lcm | 2023 | $350M | $227.4M | — | 1.18x | 0.03x |
| North Haven Tactical Value Fund II, LP | Morgan Stanley | 2022 | $350M | $186.4M | — | 1.20x | 0.00x |
| Patient Square Equity Partners, LP | Patient Square | 2023 | $350M | $302.9M | — | 1.18x | 0.01x |
| Providence Equity Partners VI | Providence | 2007 | $350M | $1.3M | — | 1.34x | 1.34x |
| PSC EP Discretionary Co-invest III, LP | — | 2023 | $350M | $384.1M | — | 1.43x | 0.00x |
| TPG Growth IV LP | TPG | 2018 | $350M | $377.1M | — | 1.68x | 0.72x |
| Warburg Pincus Private Equity X LP | Warburg Pincus | 2007 | $350M | $7.1M | — | 1.77x | 1.75x |
| The Seventh Cinven Fund | Cinven | 2019 | $346.2M | $409.5M | — | 1.27x | 0.13x |
| Seventh Cinven Fund | Cinven | 2019 | $345.4M | $382.6M | — | 1.19x | 0.00x |
| Domain Excelsior Fund, LP | Domain Associates | 2022 | $325M | $465.2M | — | 12.49x | 0.00x |
| Hellman & Friedman Capital Partners IX | Hellman & Friedman | 2019 | $325M | $512.3M | — | 1.62x | 0.14x |
| EQT Fund IX | EQT | 2021 | $324.6M | $420.4M | — | 1.31x | 0.19x |
| EQT Fund VIII | EQT | 2018 | $324.6M | $343.2M | — | 1.90x | 0.86x |
| Knickerbocker Co-Investment Partners | Knickerbocker Co | 2022 | $324.6M | $220.5M | — | 1.26x | 0.00x |
| Copenhagen Infrastructure V | Copenhagen Infrastructure Partners | 2024 | $324.4M | $72.2M | — | 0.91x | 0.00x |
| Copenhagen Infrastructure V Co-Investment | Copenhagen Infrastructure Partners | — | $324.4M | — | — | — | — |
Largest 100 of 610 disclosed positions. Source: NYSCRF Asset Listing - asset-listing-2025. TVPI = total value / paid-in; DPI = distributions / paid-in.
Frequently asked questions
- What stage does Empire State Development – New York Ventures invest at?
- Empire State Development – New York Ventures invests at the Pre-Seed, Seed, Series A, Series B stages.
- What is Empire State Development – New York Ventures's typical check size?
- Empire State Development – New York Ventures typically writes checks of $500K – $1.5M.
- What sectors does Empire State Development – New York Ventures focus on?
- Empire State Development – New York Ventures focuses on Advanced Manufacturing, AgTech, Biotech, Consumer, Data & Infrastructure, EdTech, Energy, Enterprise Software, Hardware, Medical Devices, New Materials, SaaS.
- Where is Empire State Development – New York Ventures located?
- Empire State Development – New York Ventures is headquartered in New York, US.
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Co-investors · 1
Salesforce Ventures is the corporate venture arm of Salesforce, investing in enterprise technology startups from seed through growth stages since 2009.
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