Launch New York has announced the first four investments in startups from its new limited partner fund.
The for-profit fund invested in EagleHawk, ShrubBucket, Ecolectro and Willow. Launch New York declined to say how much was invested in each company because the organization is still fundraising.
The new fund works in tandem with Launch New York's seed fund, which has been built as a nonprofit fund through donations and grants.
"By introducing the new LP Fund, we created a way to effectively double the capital we have available to local startups, and investors have an opportunity to earn a profit while doing good in a community they hold near and dear," said Marnie LaVigne, Launch New York's president and CEO.