by Nihal Mehta
It’s been seven days since Eniac Ventures hosted 300 co-investors in our office as part of New York Tech Week, and I’m still buzzing.
Part of that, of course, is just the relief of putting on a successful event (and let me give another huge thank you to everyone on the Eniac team who made it happen!). But the party, and the incredible energy that we all felt throughout Tech Week, solidified my sense that the NYC has reached a real critical mass — not just of amazing startups and founders, but investors who can back them.
Put simply, founders no longer have to fly across the country to pitch investors on Sand Hill Road.
Many of them will still make the trek, of course. But there’s a thriving ecosystem of firms in New York City ready to write them checks, as well as a growing number of West Coast firms opening offices here — and I was excited to see so many of their faces in one place last week.
Naturally, we want Eniac to become an even more important part of that ecosystem. While we invest across the country, and occasionally internationally, New York tech is a big priority for us.
In fact, all four of Eniac’s co-founders and general partners are now based in the city. We’ve opened a 4,400 square foot office in SoHo, and it’s used not just by the Eniac team, but many of our portfolio companies when they need desk space. We’ve opened it up to host a few other events for the whole New York tech community, and we’re planning even more in 2023.
Last year, New York-area startups raised a record $52 billion in venture funding. But I’m confident that’s just the beginning.