Upstate Biotech Ventures Launch

This July 16, 2024 partner release records the launch and capital structure of Upstate Biotech Ventures, a seed fund managed by Excell Partners for Upstate-affiliated startups and small businesses.

• The fund launched with $6 million: $3 million from Empire State Development and $3 million from Upstate Medical University through the SUNY Research Foundation.
• Excell Partners manages the fund.
• The stated target was nearly 20 companies with investments from $100,000 to $1 million.
• The fund focuses on research and technology innovation and connects to CNYBAC and the regional life-sciences ecosystem.

• The release does not provide current deployment totals, portfolio companies, application mechanics, or exact security terms.
• Venture investments imply equity or equity-like economics, but the instrument for each investment remains unknown.

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