In-State Private Equity Investment Program

This program invests in private equity funds that target technology-based startups and established businesses in the State seeking expansion capital. The program generates solid returns for the State pension fund and the one million members, retirees and beneficiaries who depend on it. As an added bonus, it spurs private sector investments and jobs—upstate and downstate—by investing in businesses that want to expand here.

Company Profiles

Healthify: New Tech Firm Helps Improve Healthcare

Movable Ink: This Tech Firm Knows When “You’ve Got Mail” 

Southern Tier Brewing Company: An Upstate Success Story

Voxy: Want to learn English? Try Voxy.

Since 2007, Comptroller DiNapoli has doubled the capital committed to this program.

  • Approximately 10 percent internal rate of return on fully exited investments.
  • Over $1.1 billion returned to the Fund on $715 million exited investments in 215 companies.
  • $1.3 billion invested in 439 New York State companies.
  • $10.5 billion has been invested between the Fund and other private equity firms, including $5.2 billion in upstate New York companies.

2017 Investing in New York [PDF]


Frank McEvoy
Phone: (518) 473-6089
Email: [email protected]