Buffalo, N.Y., – For the fifth year in a row, Launch New York (Launch NY), Upstate New York’s first and only venture development organization to provide pro bono mentoring and capital access to high-growth startups across the 27 westernmost counties of the state, is receiving support from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund.

This year’s $225,000 CDFI Fund award is allocated to Launch NY’s nonprofit Seed Fund. The Seed Fund is designed to support investments in startups in what is known as an “evergreen cycle,” which recycles returns to the fund and continues providing capital to new ventures in the future. It’s fueled by grants and donations and offers $25,000 to $100,000 in investment capital to companies that meet Launch NY’s criteria.