Finance

Jed Morey and the art of the publishing pivot

By GREGORY ZELLER // New York Financial Press, we hardly knew ye. But founder Jed Morey knew enough, at least, to clearly envision the best destiny for his startup alternative-news website – and it wasn’t reporting day-old deals and spinning market coverage just like everyone else. That would never do for Morey, the self-styled publisher of the Long Island Press and head of a namesake marketing/journalism empire with a reputation for the unconventional. So the…

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First Niagara said to be exploring sale

Buffalo’s First Niagara Financial Group Inc. is exploring a sale of the firm to suitors that include New York Community Bancorp, Toronto-Dominion Bank and Huntington Bancshares, according to DealReporter. According to the news site’s sources, First Niagara has hired JPMorgan Chase & Co. to advise on a possible sale or other strategic moves. FN has a market value of about $3.18 billion, based on the number of shares outstanding at the end of the second quarter. The company has…


The Debrief: David Calone, Jove Equity Partners

Chief executive of Setauket investment firm Jove Equity Partners, founder of the Long Island Emerging Technologies Fund, chairman of the Suffolk County Planning Commission, candidate for the U.S. House of Representatives … and that’s when he’s not running a Colorado-based healthcare company recently ranked among the nation’s fastest-growing firms. It’s fair to say David Calone has a full plate – but nurturing Long Island’s innovation economy remains a top priority. In his words: BUSY MUCH?…


With Topspin round, Codagenix steps on the gas

By GREGORY ZELLER // Last year, when local venture firm Topspin chipped in on a $100,000 infusion for Stony Brook-based biotech Codagenix, it gave the startup a fairly clear idea of what to do with the money. “We had suggested to them that they needed to tighten up some aspects of their clinical data, and in fact they used the money to do just that,” said Steve Winick, Topspin’s managing director. “The tests came out…


BDS Capital raising up to $40M for new tech fund

By GREGORY ZELLER //  BDS Capital Management is doubling down on technology with a second venture fund that will invest between $25 million and $40 million, largely in Long Island startups. The fund, BDS Venture Fund II, follows a $6.5 million pool that backed Huntington-based eGifter and former Hicksville startup ProSeeder Technologies, as well as tech startups in New York City, Boston, Detroit and the left coast. “I would like to invest more on Long…


Riverhead in line for state housing support

The state announced $141 million in support for affordable housing projects, including $5.4 million for a planned Riverhead development. The Finger Lakes region (six total awards for $26.5 million) will receive the largest amount of funding, followed by the Southern Tier (four awards, $21.1 million) and the Mid-Hudson region (four awards, $17.8 million). The most individual awards are going to New York City (nine awards, $16.7 million). The aid includes low-interest loans, grants and tax…


Leah Busque

State launches women-focused investment fund

New York State is unwrapping a $2 million investment fund to support minority- and women-owned business enterprises. The MWBE Investment Fund, managed by Rochester-based venture capital firm Excell Partners, will provide early-stage financing to certified minority- and women-owned startups, with a particular focus on high-tech ventures, according to a statement from Gov. Andrew Cuomo’s office. The “first-of-its-kind investment fund” will be a big help to a “vitally important part of the state’s economy,” the governor…