The New York City Investment Fund, a venture capital fund that has invested $110 million in New York-centric enterprises over the past decade, has appointed four executives to its Board of Directors:
Patrick J. Foye Chairman, Downstate, Empire State Development Corporation Jonathan N. Grayer, Chairman & CEO, Kaplan, Inc. Kevin P. Ryan, Chief Executive Officer, AlleyCorp LLC (and Chairman of this publication) Fred Wilson, Managing General Partner, Union Square VenturesAccording to NYCIF president Maria Gotsch, the board serves as the fund’s investment committee: They review and approve all investments and set the Fund’s strategic direction. The Fund’s new board members join such NYC finance luminaries as Henry Kravis (KKR) and Stephen Schwarzman (Blackstone).
NYCIF seeks to invest in ventures that are “likely to generate benefits for New York City and its communities. Priorities include job creation, revitalization of distressed areas and innovative ideas or products that position New York at the cutting edge of growth sector industries.”