Seeking NYS Companies Only
Eastern NY Angels is seeking entrepreneurs who are interested in obtaining early stage funding for their company. Please review the criteria described in the investor process.
Entrepreneurs, click here to submit or update your business plan.
ENYA’s primary goal is to provide seed funding and mentorship to early stage companies while creating jobs in the Eastern Region of New York State commonly known as Tech Valley and delivering a reasonable return on investment for its members.
The Eastern NY Angels can trace its roots back to 2001 when four local entrepreneurs formed the Tech Valley Angel Network or TVAN as it was known. TVAN was an affiliation of high net-worth individuals who met monthly to review potential investments in early stage companies in the Tech Valley.
In 2005 CEG assumed administrative responsibility for the operation of TVAN from the original founders. They were no longer in a position to administer the fund so they stepped away leaving that responsibility to the Center for Economic Growth. CEG continued to run the fund however the number of active investors continued to decline. By late 2009 TVAN was no longer making investments as a group. At that point it became obvious that a change was needed. After having invested over $1.7MM into 20 companies since its inception, TVAN was disbanded in early 2010.
The remaining members of TVAN decided to work with CEG to refocus the organization from a “supper club” model to a fully managed Angel fund creating the Eastern NY Angels. With the assistance of CEG the Eastern NY Angels or ENYA was founded in August 2010.
ENYA is a member managed fund organized as a Delaware LLC. The fund is composed of Limited Partners or Members who are the investors. There is a five person Management Committee that directs the activities of the fund. Companies seeking funding are invited to “pitch” to the membership at monthly meetings. The average investment is $150,000.
Investors in our fund come from all walks of life. They are businessmen and women who have experience, time and money to invest in early stage companies. They activly participate in our investments as mentors, advisors, board members and in some instances even employees of the companies we invest in. The strength of our fund is in the diversity and depth of experience that our investors bring to the table.