White Papers

May 2009
"Venture Capital & Seed Activity in NYS:  Statistics for Upstate and Downstate, Part II of a Two-Part Series".
In this sequel report, we again address the important issue of venture capital (VC) investing in NYS. However, here we take a deep dive into one primary data source, i.e., the raw data on www.pwcmoneytree.com for both the Upstate and Downstate regions. We have created a data base for every venture deal reported to the National Venture Capital Association (NVCA) for a four-year period from January 2005 through and including December 2008 (2005-2008). We take a close look at the distribution of capital among the metro regions from Buffalo to Long Island and how capital is invested by development stage. Data on the number of deals by development stage paints a picture of the level of VC activity in each region.

February 2009
"Venture Capital & Seed Activity in NYS:  Perception, Reality, and Unrealized Potential, Part 1 of a Two-Part Series".
This report tells a story about venture capital activity in New York State, particularly at the seed stage, and the unrealized potential in leveraging the incredible amount of research and development that is being generated at pre-eminent universities across the region. There are many misperceptions and misunderstandings about these matters among our state, regional, and local community stakeholders. Rather than discuss these issues anecdotally, we have elected to provide a significant amount of data in this white paper to paint the picture of what is really happening here in NYS.

February 2005, Updated March 2007
"Before the Negotiations:  What Entrepreneurs Need to Know about Seed and Early Stage Venture Capital".
This paper is recommended for entrepreneuers who have an investable business case but who have never been through the venture investing process.  An entrepreneur familiar with the concepts and terminology explained therein should be more comfortable and effective in any negotiation process with a VC.  Community stakeholders who are interested in learning more about venture capital might also benefit from a quick read-through.

Excell Partners, Inc.
222 West Ridge Road, Suite 156-1
Rochester, NY, 14615
(585) 458-SEED (7333)