Notice Details

New York City Economic Development Corporation (“NYCEDC”) is issuing a Request for Applications (“RFA”) to seek applications from investment fund managers (each, a “Fund Manager”) that are raising capital for an investment fund (each, an “Investment Fund”) with objectives that align with the NYC Catalyst Fund II (the “Program”).

The goals of the Program include fueling economic development in New York City, achieving NYCEDC’s broader impact, and generating income for NYCEDC. NYCEDC expects to allocate $25 million to the Program and make commitments up to $5 million to each Investment Fund selected by the Program. Additional funding may be allocated to the Program at the discretion of NYCEDC.

NYCEDC is interested in funds that have a well-articulated financial return strategy, a demonstrated commitment to New York City, and a strategy that aligns with at least one of the below impact areas:

1. Diverse Entrepreneurship: The Fund Manager must demonstrate an investment strategy for the Investment Fund that is focused on investing in underrepresented founders and their businesses.
2. Economic Mobility: The Fund Manager must demonstrate an investment strategy for the Investment Fund that is focused on closing income and wealth gaps through, but not limited to, small business financing, workforce and business development, education, and/or alternative wealth creation pathways.
3. Innovation Sectors: The Fund Manager must demonstrate an investment strategy for the Investment Fund that is focused on high-growth, innovative industries that are integral to New York City’s economic growth and the creation of high-quality local jobs.

 

NYCEDC plans to select Fund Managers based on factors stated in the selection criteria section of the RFA, which include, but are not limited to: the qualifications and reputation of the Fund Manager and the investment team, the Investment Fund’s investment and impact strategy, the Investment Fund’s proposed financial terms, and the Fund Manager’s investment track record.

It is the policy of NYCEDC to comply with all federal, state and New York City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status, and other protected categories and to take affirmative action in working with contracting parties to ensure certified Minority and Women-owned Business Enterprises (“M/WBEs”) share in the economic opportunities generated by NYCEDC’s projects and initiatives.

Companies that have been certified with the New York City Department of Small Business Services as M/WBEs are strongly encouraged to respond. To learn more about M/WBE certification and NYCEDC’s M/WBE program, please visit http://edc.nyc/opportunity-mwdbe. 

Fund Managers will have multiple opportunities to submit questions and/or request clarifications from NYCEDC. Questions regarding the subject matter of the RFA should be directed to NYCCF@edc.nyc. The first round of questions must be submitted no later than 5:00 p.m. ET on  Friday, January 2, 2026.  Responses to the first round of questions will be posted by Friday, January 16, 2026, to https://edc.nyc/rfps. The final round of questions must be submitted no later than 5:00 p.m. ET on Friday, December 1, 2028. Responses to the final round of questions will be posted by Friday, December 15, 2028, to https://edc.nyc/rfps. Please see the RFA for details about subsequent question round deadlines. Technical questions pertaining to downloading and submitting proposals may be directed to RFPRequest@edc.nyc, while the RFA is outstanding. 

To download a copy of the RFA please visit https://edc.nyc/rfps. FIRST ROUND RESPONSES ARE DUE NO LATER THAN 4:00 p.m. ET on Friday, January 30, 2026. Subsequent round responses are outlined in the rolling submissions deadlines section of the RFA. The RFA will remain open until Tuesday, January 2, 2029, or until all funding is depleted, whichever occurs first. Applications will be evaluated on an ongoing basis as they are received. Please click the link in the “Deadlines” section of this project’s web page to electronically upload a proposal for this solicitation. Please upload your application in a zip file with your company name and RFA title.