Upstate Deals and Doings – April 11, 2018
Deals, news and events for the investment community across Upstate New York.
Published online and emailed to members every other week.
upstate capital awards!
Last week, over 200 guests joined us at the 2nd Annual Celebration in Rochester NY. The event highlighted the most interesting investments across New York State over the past year in seed, venture and private equity. Over 50 companies and individuals were nominated in 6 categories. See the winners and check out the photos!
- Anellotech, a Pearl River-based developer of proprietary thermal catalytic biomass conversion technology, received investment from Suntory Group for $15 million.
- UltraCell Insulation, a Buffalo-based producer of cellulose-based insulation material, raised $1.58M of venture funds from an undisclosed source.
- Mavis Tire, a Millwood-based distributer and dealer of discounted tires, was acquired by Express Oil via its financial sponsors Golden Gate Capital, Carousel Capital, GoldPoint Partners, Golub Capital BDC, Hartford Investment Management Company and Twin Bridge Capital Partners.
- Kohlberg & Company, a Mount Kisco-based private equity investment services company sold an undisclosed stake in the company to Blackstone Alternative Asset Management.
*Have a deal you'd like to share? Submit your deal here.
- Fotokite, a Switzerland-based company that developed a kite-like drone with the ability to fly 24/7, won the $1M grand prize in the Genius NY business competition Monday, April 9, 2018.
- ACV Auctions Inc., a Buffalo-based web platform that allows car dealers to quickly buy and sell wholesale vehicles through live auctions, achieved a major milestone in March with more than 5,000 vehicles sold online and over $35M in vehicles sold.
Upstate capital events
- April 26 - Albany - Managing Risk and Strategic Growth - Upstate Capital and the Center for Economic Growth are co-hosting an event on April 26th in Troy for startups and growth-oriented companies. Explore best practices and lessons learned in launching, scaling and managing risks for startups and established companies. Participants include successful company executives who've had exits, investors, entrepreneurs and business leaders from across the region. Register here.
- April 27 - Albany - 9th Annual New York State Business Plan Competition- Approximately 120 teams hailing from across New York State will vie for 18 prizes up to $25k. More information here.
- May 2 - Buffalo - Upstate Capital Reception following the Bright Buffalo Niagara Entrepreneur Expo program for Upstate Capital members and invited guests. Bright Buffalo Niagara is an annual event where high-tech companies from Buffalo pitch to potential investors, and University of Buffalo showcases its connections between innovation and industry. Register here.
- May 4 - Binghamton - Southern Tier Startup Summit - a celebration of entrepreneurship and its impact on the greater community. We will showcase companies in the Business Incubation and Clean Energy programs, and provide several events, speaker series, workshops, and networking opportunities. Register here.
- June 13 - Hudson Valley - Planning for the Future: Perpetuation + Succession. Capital has teamed up with Community Foundations of the Hudson Valley to host an event to bring together members of the business and entrepreneurial communities from across New York to discuss family business perpetuation and succession planning in the Hudson Valley. Event is by invitation only.
- April 26 - New York City - Demo Day with Quake Capital - Join MicroEra Power and other startups present at the Quake Capital Spring 2018 Demo Day.
- May 2 - Bright Buffalo Niagara Entrepreneur Expo is an annual event for high-tech companies from Buffalo pitch to potential investors and University of Buffalo showcases its connections between innovation and industry.
- May 18 - Albany - KeyBank's Annual Key4Women Forum - a nationwide community of entrepreneurial and executive business women brought together by KeyBank to help them thrive.
- May 23-25 - Cooperstown - NYSEDC 2018 Annual Meeting, The Evolution of the Economic Developer. In a 21st Century Economy, the term “economic development” has grown to have a variety of meanings. Gone are the days of just trying to attract a company with economic incentives, building a facility, and creating jobs.
- June 11 - Albany - NYEDC 2018 Basic Economic Development Course. The Basic Economic Development Course (BEDC) provides an introduction to the concepts and practices of a broad economic development program. Through classroom instruction, peer learning, and case studies, the New York BEDC offers an immersive and comprehensive educational experience in economic development fundamentals.
- June 28 - Rochester - Luminate's Light Tomorrow with Today, an exciting Demo Day event in the Big Tent of the Xerox Rochester International Jazz Festival! All 10 finalist companies will be pitching their optics, photonics, and imaging startups, and one team will be awarded $1 million in follow-on funding from the Empire State Development's Finger Lakes Forward initiative.