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The Venture Codex

New York Ventures

New York, NY, United States

Overview

New York Ventures is dedicated to encouraging innovation and fueling economic growth in communities across the State. This venture capital investment arm of Empire State Development is one of New York State's business resources and innovation investments, including the Governor's START-UP NY program, Innovation Hot Spots, the Regional Economic Development Councils, the Centers of Advanced Technology and Centers of Excellence networks, and the SUNY 2020 Initiative.

Total investments
42
Lead investments
4
Investments · 12mo
5
Active investors
3
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Investment portfolio

  • FesariusTherapeutics

    Participated · Series A · Jun 2026

    FesariusTherapeutics is a commercial-stage medical technology company headquartered in New York whose flagship product, DermiSphere™, is the first hydrogel Dermal Regeneration Template (hDRT) cleared by the FDA (510(k) clearance in January 2025). DermiSphere™ features a patented dual-density collagen microarchitecture intended to facilitate cellular integration and vascularization to support wound healing. The device is commercially active across multiple U.S. hospital systems and the company reports growing clinical momentum. Fesarius plans to pursue Breakthrough Device Designation, expanded reimbursement pathways, and a pivotal clinical trial supporting a OneStep procedure and future label expansion. The company will use proceeds from its $20 million Series A to accelerate commercial infrastructure and expand its national direct sales coverage. The financing included strategic and institutional investors, signaling validation from both corporate and specialty-society backers.

  • CREW Carbon

    Participated · Series A · May 2026

    CREW Carbon offers a process intensification solution for wastewater treatment that uses strategically-sourced alkaline minerals to optimize pH and alkalinity, improving biological performance, settleability, and plant capacity while permanently sequestering CO2. Since beginning commercial operations in 2024, CREW has deployed at nearly 10 facilities across the U.S. and Europe and secured long-term RFPs with utilities. The company has captured over 2,000 tons of CO2 and secured more than $33 million in carbon removal offtake agreements, delivering verified carbon removal credits to corporate buyers. CREW has developed proprietary measurement, reporting, and verification (MRV) capabilities and is developing a scalable analytics platform to provide operational insights and process optimization. Financial and strategic support from the Series A will be used to scale deployments, expand customer engagements, and add key hires in wastewater process, technology, supply chain, and business development.

  • Fathom Therapeutics

    Participated · Series A · Apr 2026

    Fathom Therapeutics develops Microcosmos, a drug design engine that uses proprietary physics-based algorithms and AI to simulate protein dynamics at atomic resolution and enable generative design of small molecules. The platform reportedly accelerates modeling of protein dynamics by 10,000x without compromising accuracy and produces data intended to translate quantum mechanical calculations to measurable cellular outcomes. Microcosmos has guided discovery and optimization across multiple target classes and modalities, including rapid generation of novel degraders that are being optimized for clinical advancement. Fathom has an active internal pipeline, multiple external discovery partnerships, and its lead program has progressed into animal efficacy studies. The company was founded by researchers behind the Anton supercomputer and widely used protein–drug binding software, and its leadership team has collectively advanced 19 drugs to the clinic, including seven FDA-approved medicines. Fathom is headquartered in New York and maintains a second office in Boston.

  • CryoBio

    Participated · Seed · Feb 2026

    CryoBio is an ag-biotech spin-out from Marble (founded in 2025) that engineers naturally occurring “hyperactive” antifreeze proteins into a sprayable, food-safe frost-protection product for specialty crops. Late-spring freezes cause as much as $30 billion in annual agricultural losses in North America and Europe, and current countermeasures—such as candles or helicopter down-washing—are costly and outdated. In controlled trials, CryoBio-treated plants survived up to ten times longer before freezing than untreated controls, delivering superior protection at a fraction of existing costs. The company is initially targeting apple and grape growers in the U.S. mid-Atlantic region and is expanding operations in New York to support upcoming on-farm pilots. CryoBio’s leadership includes CEO and serial entrepreneur Murli Manohar, PhD, CTO and ag-tech veteran Luis Marquez, and founding scientist Abe Pressman, PhD. The recent $1.3 million pre-seed financing gives the company its first external capital, moving it from lab validation to field trials.

  • Excelsior Sciences

    Participated · Grant · Dec 2025

    Excelsior Sciences is building a new form of machine-executable chemistry in which modular, synthesis-friendly “smart bloccs” enable rapid iterative carbon-carbon bond construction that AI can readily design, make and test in closed-loop workflows. This approach aims to shorten drug-discovery timelines, seamlessly bridge discovery and scale-up chemistry, and support the reshoring of pharmaceutical manufacturing to the United States. The company’s platform produces purified compounds fast enough to feed data-hungry algorithms, promising breakthroughs not only in therapeutics but also in materials science and other sectors. Spun out of Deerfield Management and operating from custom laboratory space at Cure in New York City, Excelsior couples proven automated synthesis expertise with advanced AI to generate rich datasets and novel molecular insights. Future plans include expanding its internal small-molecule pipeline and forging partnerships across multiple industries to commercialize the technology. To fund these initiatives the company secured $95 million in new capital, consisting of a $70 million Series A equity round and a $25 million grant.

Team