CAPITAL. CONNECTIONS. COMMITMENT.

MESSAGE FROM EXCELL

Welcome to Excell’s first progress report to the community.

Over the last 12 years Excell has been a leader in driving transformational change to Upstate New York’s innovation ecosystem.

In addition to investing $12 million in 59 startups, Excell was proud to be the only venture capital firm selected to manage New York State’s pilot MWBE venture fund for high-tech certified minority and women-owned businesses.

As a result of Excell’s efforts, the companies in Excell’s portfolio have created over 430 new jobs and have attracted over $400 million in follow-on funding after Excell’s investment.

Excell would like to acknowledge the critical role that both New York State and the Federal government have played in developing the ecosystem in Upstate. Gov. Andrew Cuomo and New York State’s Empire State Development Corporation, in particular, have been instrumental in making Upstate more competitive by providing the necessary funding to drive innovation.

We believe that every win for an Excell portfolio company is a win for all of Upstate New York.

We look forward to continuing to work with our partners to invest in innovation, create new jobs and strengthen the Upstate economy.

Theresa Mazzullo Rami Katz CEO COO

www.excellny.com | (585) 458-7333 2

ECONOMIC IMPACT

Excell has attracted more than 30X in follow-on funds. An effective measure of success, these funds are re-invested into the regional economy.

ATTRACTING CAPITAL

Full-time jobs430

New patents198

Annual payroll and subcontracting

> $30 million

Average salary$65,247

Venture Capital 56%Grants 31%Debt 13%

Excell has been a steady growth engine for the regional economy.

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2013 2014 2015 2016 2017 2018

Follow-on funding ($millions)

$242$276 $293

$324$357

$405

INDUSTRY STRENGTH

DID YOU KNOW?

Excell was the only fund chosen to manage Gov. Andrew Cuomo’s $2 million MWBE Investment Fund to provide seed financing to certified minority and women-owned business enterprises.

Approximately 30 percent of Excell’s portfolio representsminority and women-owned businesses.

Excell has invested in

startups across multiple industries.

The lifesciences, i.e. medical devices, biotech,

and the energy sectors have attracted the most

investment so far.

Left to right: Rami Katz, Excell; Gov. Andrew Cuomo; Marty Strenczewilk, Splyce; Mike Molaire, Molecular Glasses; Theresa Mazzullo, Excell; Sandra Turner, Viggi Corp., and Richard Feldman, University of Rochester

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Biotech/Pharma12%

Healthcare Services3%

Consumer Products2%

Electronics7%

Business Services10%

Industrial/Energy22%

IT/Software16%

Medical Device & Equipment28%

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Through its analyst program, Excell works with the University of Rochester, Rochester Institute of Technology, Syracuse University and Cornell University to train the next generation of venture analysts. This program’s strength is that it brings graduate students from different universities, cultures and disciplines together. These analysts train for three months and then work for approximately a year supporting portfolio ventures and leading due-diligence efforts.

Jose D. Otero, MBA MIS and Finance

“With the support of management and diversity that Excell holds, thiscompany provides exceptional competitive advantage and career value to professionals.”

Etana Elegbe, PhDBiomedical Engineering

“My Excell experience strongly influenced my business experience and gave me the exposure and opportunity to work in strategy and corporate development.”

David Bernstein Economics

and Medicine

“My Excell experience provided me with an invaluable opportunity to gain ‘real world’business experience.”

BUILDING FUTURE LEADERS

DEAL FLOW

TRACK RECORD

TOTAL INVESTMENTS 59NUMBER OF EXITS 10 COMPANIES DISSOLVED

15ACTIVE PORTFOLIO COMPANIES

32

GROWING SECTORSLife Sciences, Industrial/Energy, Fintech, IT/Software

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Albany

Buffalo

Canandaigua

Geneva

Ithaca

NYC

Rochester

Syracuse

Robust deal flow demonstrates the

growth of new and disruptive technologies

in Upstate New York.

REGIONAL SUPPORT

“Excell plays a central role in the region’s innovation ecosystem by providing critical early stage support to the ideas, technologies, and entrepreneurial talent that is emerging from our research institutions and is transforming these opportunities into regional economic growth.”

-Peter RobinsonChief Operating Officer, University of Rochester Medical Center

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CAPITAL. CONNECTIONS. COMMITMENT.

www.excellny.com

EXCELL PORTFOLIO COMPANIES

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