If there’s any indication of growth for Tech Valley, this is it.
November 20, 2009 | Great PR, Today's Headlines, Venture Capital and All That Jazz
This week’s edition of The Business Review has two front page headlines regarding venture capital coming to the Albany area.¬† DeltaPoint Capital Management LLC has closed on a $50 million fund targeted for companies in New York. The Rochester venture capital firm has already invested $25 million in two Capital Region companies and is eyeing at least two more potential candidates here. This article highlighted more activity in the space using companies like Apprenda as an example for their recent $5 million second round funding from High Peaks Venture Partners in Troy.
Like the latter article mentions, VCs are more likely to further invest in their existing companies amongst their portfolio than take a large risk with a unknown entity or first round funding.  The good news is that the three local venture firms mentioned by The Business Review seem to have deeper pockets than one would expect.
To get a larger second round, often you’ll find that venture companies will double or triple up, as was the case with Apprenda and Baltimore-based New Enterprise Associates.¬† Diversity in your company’s funding has its pros and cons — but most entrepreneurs will say that the added voices to your board are really worth the added capital to see your vision come to fruition.
This is a great feature for The Business Review and a reminder to all of us Capital Region tech geeks that smaller companies will also support the economy here in the short term and our entire Tech Valley existence doesn’t rely on just the IBM, GlobalFoundries and other brick and mortar shops here locally. A flourishing start-up environment means plenty more High Peak Ventures and DeltaPoint’s coming to our area and in turn that means jobs, innovation and a global presence for our area.
Courtesy of The Business Review
Quick info
Located: Office in Glens Falls; headquartered in New Orleans
Founded: 1992
Capital raised: $1 billion total; $88 million targeted for NYS companies
Some investments:
Golden Goal Youth Soccer & Lacrosse Tournament Park, Ft. Ann; Monarch Machine Tool Co., Cortland; iCardiac Technologies, Rochester; Kionix, Ithaca; Chapman Instruments Inc., RochesterHigh Peaks Venture Partners
Located: Troy
Founded: 2004
Capital raised: $46 million
Some investments: Apprenda Inc., Clifton Park;
Auterra Inc. (formerly Applied NanoWorks Inc.), Malta; ReQuest Inc., Ballston Spa; SmartPill Corp., Buffalo; Flat World Knowledge Inc., NyackLocated: Albany
Founded: 2000
Capital raised: $100 million
Some investments: Auterra Inc., (formerly Applied NanoWorks Inc.), Malta;
Autotask Inc., East Greenbush; Mechanical Technology Inc. (OTC: MKTY), Colonie; Plug Power Inc. (Nasdaq: PLUG), Latham; CoreSense, Saratoga Springs
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