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Upstate Capital Weekly Newsletter – 4/20/22

Deals, News & Events for the Upstate Capital Investment Community 


START CONNECTING NOW

Networking is an incredible opportunity to connect with investors, entrepreneurs and other business professionals. Register to attend Venture NY and you’ll receive a registration confirmation email to access Brella through your browser, complete your profile (it takes less than 2 minutes) and start chatting right away! Check out the attendee tab to connect with other registrants before the event on April 27. Get the most out of your time by connecting with other attendees now.


VC + GROWTH

Genius NY is now accepting applications through May 31 for high-growth startups in uncrewed systems, IoT, big data, and robotics. The in-residence accelerator will invest more than $3 million in five finalist companies, including a $1 million grand prize.

Pete Grum, Upstate Capital board member, gives back: Known around Buffalo as the face of Rand Capital for more than 25 years, Pete has also been committed to Horizon Health for 20-plus years helping to save the nonprofit mental-health agency from financial ruin. 

Nextcorps’ Jim Senall on Rochester opportunities: Rochester is on its way to becoming a national hub for technology innovation with the highest potential of any city in America for developing high-tech, high-income jobs.


PRIVATE EQUITY + M&A

Bonadio and Golisano grow Upstate NY broadband infrastructure: Greenlight was founded in 2011 and purchased by Paychex founder Tom Golisano and Impact Capital’s Tom Bonadio in 2018. The CEO and founder, Mark Murphy said that Golisano and Bonadio were instrumental in helping to expand the company, growing from 18 to 160 employees prior to the recent acquisition by Oak Hill Capital Partners.

PE Firm buys Albany-based aerospace company: MTI Instruments is the third bolt-on acquisition for Branford Castle Partners’ portfolio company, Vitrek. The acquisition expands Vitrek’s electronic test and measurement products and adds MTI’s market-leading jet engine balancing systems, signal generators and precision metrology devices. Vitrek and MCI work with blue-chip aerospace, defense, semiconductor and renewable energy customers globally.

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