NJ Innovation Evergreen Fund is sponsored by New Jersey Economic Development Authority (NJEDA). This program partners with the private sector to raise and invest capital in qualified New Jersey-based early-stage companies.

NJ Innovation Evergreen Fund - NJEDA Unallocated Capital Available: $63,403,550 *Unallocated capital is available for initial and follow-on investment, management fees and organizational expenses and ecosystem system building support as clarified in program regulations. This is to be updated on a quarterly basis per regulations and is current as of 4/22/26.

Innovation can occur anywhere, but it may have the greatest chance of success when born and fostered with the collaboration of interested partners. Entrepreneurship is a primary contributor to job creation and sustainable economic growth. New businesses can create disruptive products and services that launch new markets and spur employment in high-wage industries.

While innovation is frequently associated with early-stage enterprises, few such businesses have the depth of resources of more established corporations necessary to turn their innovative ideas into realized solutions. Proximity and access to funding are key value drivers for the development of an entrepreneurial ecosystem.

Venture capital can serve a critical function to help commercialize, test and scale research and ideas to truly transform the economy and, to attract and retain budding entrepreneurs. The Evergreen Program directly addresses our state’s competitive position in venture capital funding nationally and aims to create the conditions necessary for our entrepreneurs to succeed.

The Evergreen Program forms a platform that partners with the private sector to raise and invest capital in qualified New Jersey-based companies. The Evergreen Program will secure funding and strategic support from the sale of state corporate tax credits in a competitive auction, then partner with private venture capital firms to co-invest the funds in eligible early-stage businesses in New Jersey.

This application of known economic development tools form a novel mechanism intended to create alignment among the resources of New Jersey’s established corporate citizens with professional venture capital investment firms and early-stage businesses in New Jersey.

CGI Technologies & Solutions Comcast Cable Communications Approved Qualified Venture Firms Signet Healthcare Partners Emerald Development Managers Approved Qualified Investments Synchrony Medical LibAirty Princeton Critical Minerals Please click below to learn more about the Evergreen Corporate Auction, or the Evergreen Investment Fund Venture Capital Connections The NJEDA is positioned as a channel to connect diverse, innovative NJ-based entrepreneurs to participating venture program platform investors.

If you would like to share your non-confidential executive summary or presentation deck with venture capital managers listed, please review the firms for mutual fit and email njief@njeda. com with direction to which firms you would like to share your brief materials. Check back often, as the NJEDA works to regularly onboard venture capital managers.

Ensure your contact information is provided in the attachment to enable firms to contact you directly if interested. The NJEDA is not responsible for the views or follow-up action of the venture capital firms listed. Please limit attachment sizes to ensure email delivery.

The list below is inclusive of firm participating in our Venture Fund Investments Programs.

Please reference the following key to delineate each firm’s participation between the two programs: +: Venture Fund Program Partner *: Qualified Venture Firm Covenant Venture Capital LLC * Life Science, Tech/AI Sustainability Creative Ventures Management LLC * Deep Tech companies addressing climate change, labor shortages, rising healthcare costs Edison Partners Management LLC * + FintTech, Healthcare IT, Enterprise Software Emerging Fund Management LLC * ResTech, restaurant and entertainment concepts Data Point Management Co.

LLC* B2B and B2C tech companies Newark Venture Accelerator LLC * + B2B software companies in Supply Chain, HealthTech, Soundscape, Fintech RV3 Management LLC (Rittenhouse) * Healthcare, Pharma IT, Financial Services, HR & general business services Signet Healthcare Management LLC * Pharmaceuticals, diagnostics, medical devices Tech Council Ventures LLC * + General technology, including software, energy, healthcare, advance materials, education, Fintech Vamos Ventures Management Company LLC * Latinx founders in Sustainability, Health & Wellness, Future of Work, Fintech B2B software, data, and technology enabled services companies with a focus on future of work and future of education Enterprise Software, AI / Automation, Sustainability, FinTech Cornucopian Capital Management * Health-tech, Consumer Health, Bio-tech, Food Innovation Incubation and Early-stage to Series A Activate Venture Partners + Digital Health and Applied Business Technology NewSpring Healthcare Partners + Tech-enabled healthcare services and niche clinical providers Innovate Capital Growth + Minority and women-owned businesses Biotechnology and medical technologies Technologies supporting human and planetary health Pre-consensus companies that are often overlooked across all sectors Cannabis-related and general technology GiantLeap Management Company LLC* Mission critical, B2B technologies in the following sectors: Data Infrastructure, Enterprise Services, Artificial Intelligence, and Advanced Engineering.

High-impact deep tech medical device startups Healthcare, specifically Medtech, Life Sciences, HealthTech, and Biotech Services Deep technology with positive societal and environmental impacts Therapeutics, cardiovascular, image guided therapy, ortho/spine and surgery Pre-Seed, Seed and Growth Breakthrough health technologies Therapeutics, Diagnostics Women’s Health, Mental Health, Cardiovascular Health, Health AI, Oncology, Diabetes, Metabolic Health Emerald Development Managers * Health Tech / Bio, Cybersecurity / Enterprise Software, and Materials / Industrial Tech $2 to $7 million initial check Transportation technology Deep tech, semiconductors and hardware, AI-native applications, bio-convergence Novel targets for mental health/Therapeutics and precision neuroscience enabling technology FinTech, InsurTech, Digital Health, and Cybersecurity Two new laws, P.

L. 2023, c. 118 (S3783) and P.

L. 2025 c. 080 (A5795) modified certain aspects of the New Jersey Innovation Evergreen Program (the Evergreen Program), N.

J. S. A.

34:1B-288, et seq. Although the program rules have not yet been updated to reflect the statutory changes, the new laws are in effect as of July 20, 2023 and June 30, 2025, respectively. Please see the Program FAQs for a description of the updates to the Program.

Please be advised: New Jersey State law prohibits most cannabis license and certification holders from receiving or continuing to receive an economic incentive from the NJEDA.

If the applicant, or any person who controls the applicant or owns or controls more than one percent of the stock of the applicant, has applied for or received a license or a certification from the New Jersey Cannabis Regulatory Commission (NJ-CRC), the applicant is ineligible for this program and should not proceed with an application.

If an application is received from an applicant that meets this criteria, the application will be declined and the application fee will not be refunded. Manager – Venture Programs Alexander. Pachman@njeda.

gov Investment Analyst – Venture Programs Senior Product Officer – Venture Programs Kremena. Mironova@njeda. gov