New York City Economic Development Corporation (NYCEDC)

About the fund

The NYC Catalyst Fund aims to catalyze local economic growth and inclusion by investing $40 million in approximately 10–15 fund managers aligned with its impact and financial objectives. Through commitments of $1–7 million each, the fund focuses on supporting VC and credit funds that back Black, Indigenous, People of Color, and women entrepreneurs, invest in LMI communities, and drive innovation in sectors such as life sciences, tech, and climate. By mid-2025, more than half the fund had been committed, with recent investments in fund managers such as Harlem Capital, Maycomb Capital, Open Opportunity Fund, and Avante Capital Partners, supporting a new wave of diverse, impact-driven NYC startups.