Excell Partners Inc. in Rochester tied for 20th on a trade publication list of the most active seed-stage investors in the first six months of this year. Excell Partners, with five deals, tied with 10 other seed and angel investment firms, rankings compiled by Pitchbook Data Inc. show. "We believe the entrepreneurial climate in Upstate New York is on the rise," said Excell Partners CEO Theresa Mazzullo in a statement. "We see increasing opportunities for start-up companies to attract more venture capital to this region."
Excell Partners is an affiliate of the University of Rochester, and one of seven participants in Gov. Andrew Cuomo's Innovate New York Fund. It is a $45 million seed-stage equity fund that invests in high-technology, high-growth companies. It is supported with state funding of $35 million and $10 million from Goldman Sachs.
Seattle-based PitchBook is a research firm for private equity and venture capital.