Excell Partners


Rochester, NY


Build to Scale Program

Capital Challenge


Project Name

Upstate NY Capital Gap Angel Fund


Award Amount

Federal Share

Local Match




This EDA investment will support Excell Partners’ (Excell) efforts to organize its 70 angel co-investors into a $10 million - $15 million regional fund called “Upstate NY Capital Gap Angel Fund,” which is designed to meet the unmet demand for equity investments between $250,000 and $1 million. This fund will support ventures in high-growth, high-tech sectors, such as optics/photonics, energy and life sciences, with an additional focus on firms in rural communities that provide employment opportunities. Excell also manages a successful fund dedicated to investing in Minority/Women-owned Business Enterprises and seeks to adapt that model to facilitate capital access in rural areas and low-to-moderate income communities.