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March 2023 was a historic month due to the collapse of Silicon Valley Bank and the turmoil that ensued following. Many New York Angel members worked closely with founders to address their financial exposure and operational plans. Despite all this, NYA members continued investing and expanding our connections across industries.
In this month's newsletter, NYA Member John Younger shares an analysis of the past 12 years of NYA investments. During this period, NYA total dollars invested increased over 3x. Also, deals have attracted increased participation from NYA as the number of members investing per deal has increased over 2x, sometimes with more than 10 members investing.
Read on to learn more about Jason Klein's perspective on why AI needs a "Prime Directive," Elaine Gilde's story as one of NYA's founding members, and more about NYA members and founders.
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New York Angels members have invested over $160k in March.
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MARCH INVESTMENT HIGHLIGHTS
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OMNIPLY
This past month, NYA members invested in a bridge round in Omniply, a leader in developing flexible electronics. Omniply makes thin-film electronic device (such as sensors, displays, memory) on flexible substrates technology, which appears to be truly transformational in how flexible displays (everything from phones to laptops to large TV screens) are manufactured. Bill Pertusi and Edward Levine led this follow-on round at a slightly higher valuation. When NYA members made their first investment in Omniply, members were attracted to the founders' strong connections in the display industry, which is critical in their ability to deliver superior costs and effectiveness in a very large market with few large players.
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CYNOMI
NYA Members recently invested in Cynomi, led by Edith Simchi-Levi and Stephen Snyder. The Cynomi platform fuses proprietary AI algorithms, modeled after the world’s best CISOs to deliver a full vCISO operations dashboard, including everything a vCISO needs to assess the posture and risk level of each client and mitigate the gaps. Steve first met the Cynomi founders at Temple University where MBA students completed their capstone project assisting the company in developing a marketing plan. Steve was impressed with the CEO, David Primor, because he was articulate, intelligent, personable and adaptable. His background as a scientist in CERN drove his ability to address the gaping hole in the cybersecurity world - SMBs. David clearly defined a significant target market that could afford moderate support in the vCISO space and worked with MSP's to establish credibility and scale the business.
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COMPANY NEWS
SEAL IT
Medcura is leveraging its breakthrough technology in bleeding management to launch a new product, specifically engineered for pet healthcare. Seal It is an easy to apply, fast acting, pain-free wound care gel that stops bleeding on contact and seals open wounds. It acts like an invisible bandage, covering and sealing wounds while creating an impermeable barrier to dirt, bugs and other foreign substances that may otherwise enter the wound.
Read About Medcura's Technology
Learn More About Seal It
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COMPANY NEWS
KASISTO
Portfolio banking technology company Kasisto, has recently announced a partnership with LinkLive, a unified communications company, to support financial institutions facing challenges on three fronts: staffing shortages, high customer expectations and the potential for a recession. Kasisto's KAI technology and LinkLive AI capabilities will expand digital customer service features and is expected to deliver $70m in savings for their clients.
Read More
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MEMBER PERSPECTIVES
12 YEARS OF NEW YORK ANGELS INVESTMENTS IN 6 CHARTS
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NYA member John Younger recently conducted an analysis of New York Angels' investment history, focusing on the post-financial crisis period from 2010 onward. The analysis highlights total activity and means of investment, how the organization’s members work together and alone, NYA’s contribution to deal size and leadership, and industries of interest. In the past 12 years, NYA has made 427 investments ranging in size from just over $2,000 to $9.2 million in a single round.
Read Synopsis
Download Full Report
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As one of the original 20 members of New York Angels, Elaine Gilde has had a huge impact on the organization. For the past eight years, Elaine served as a New York Angels Board Member. She also led the NYA membership committee and strategic initiatives, including administering NYA's sidecar investment funds. Elaine shares her story as one of the first two female New York Angels members, her memorable experience investing in CloudFrame, her four exits in 2022 and how the landscape has changed for women over the past decades.
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MEMBER PERSPECTIVES
THE "PRIME DIRECTIVE" FOR AI
Jason Klein
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As AI continues to rapidly evolve, NYA member Jason Klein addresses why the industry needs a "Prime Directive" to create simple, clear, enforceable guardrails for the industry. Jason recommends how "No Killing, No Lies, No Deception" should be the bedrock of the design of any generative AI system.
Read Blog
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MEMBER PERSPECTIVES
INNOVATION & IP
Ray Farrell
NYA Member Ray E. Farrell discussed with NYA the importance of intellectual property and how early-stage companies successfully use patents, trademarks, copyrights, and trade secrets. In this video from his talk, Ray shows why its critical to have both ownership and inventorship in patents.
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COMMUNITY CONNECTIONS
NEW YORK VENTURES
Silvia Garcia Codony
Silvia Garcia Codony, Vice President of NY Ventures - Empire State Development joined NYA Members in our March Forum. Silvia shared how the state has invested $135M to a direct investment venture capital fund that offers to match up to $250k. Every New York company that is raising seed funding should consider applying to the program.
Learn More About Funding Opportunities
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UPCOMING MEMBER MEETINGS
Investment Forum (Hybrid):
• April 17th (9:30 AM - 1:30 PM)
May Screening (Virtual):
• May 3rd (9:30 AM - 1:30 PM)
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FOUNDER DEADLINES
May 3rd Screening Application:
• Due April 12th
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