Request for Qualifications (RFQL) 4150 Co-Investment Fund Investor Qualification requests information from investors that wish to “qualify” as a co-investor for companies seeking funds through Program Opportunity Notice (PON) PON 4150 Co-Investment Fund. The accompanying PON 4150 Co-Investment Fund will offer $6 million initially, to make matching investments directly in companies with investors which are qualified through this RFQL. NYSERDA’s goal is to mobilize more early-stage capital in the clean energy space by providing matching investments in promising clean energy companies alongside experienced and successful investors.
The Co-Investment Fund will make non-dilutive matching investments directly in companies ranging from $150,000 to up to $500,000 based on a minimum 2:1 ratio of qualifying private capital investment to NYSERDA dollars. NYSERDA’s Co-Investment Fund will be open to eligible companies defined as any clean energy company based in New York State, or a non-New York State clean energy company with a demonstrated benefit to New York State, that has raised less than $20 million in private capital from investors prior to close of the subject investment. NYSERDA’s investment will be structured as a non-dilutive grant with a recoupment provision, it will not follow the investment terms agreed to by the “qualified investor” and/or other co-investor(s) in the round. Eligible companies must apply for PON 4150 Co-Investment Fund within six months of closing a qualifying investment, defined as an investment round which includes participation from an investor which has been previously qualified by NYSERDA under this RFQL.