Fri, 25 August 2023
On this episode of Investor Connect, Hall welcomes Anthony Santaro (Venture Capital Associate) & Somak Chattopadhyay (Founder and managing Partner) at Armory Square Ventures.
Located in Syracuse, New York, USA, Armory Square Ventures provides the first round of institutional capital for companies targeting the largest industries across New York State and select emerging cities across the Northeast. They are actively involved in all aspects of company growth—from recruiting senior talent, customers, and co-investors to providing general management support.
Armory Square Ventures was launched in 2014 and they consider themselves fortunate to be backed by the region’s most respected institutions, corporations, and foundations. They recognize startups need far more than capital to survive, scale, and thrive. They help their startups elevate their operations to generate outsize returns.
Somak Chattopadhyay has been operating and investing in early-stage startups in New York State and other emerging venture regions since 1999. Before launching ASV in 2014, he was a partner at Tribeca Venture Partners (formerly Greenhill SAVP, “Tribeca”), where he was instrumental in nearly every investment of its first fund and helped launch its second fund. As a venture capitalist at Edison Ventures, Somak sourced and evaluated investments in the tech-enabled service sectors managed deal flow referral networks, and identified emerging growth companies in under-venture-invested regions across the Northeast.
Anthony is a member of the investment team at Armory Square Ventures. His responsibilities include sourcing new deals, analyzing potential opportunities, and supporting the firm’s portfolio companies. Prior to ASV, Anthony was an analyst at Wells Fargo's investment bank in New York City. He is also on the board of directors for the Young Citizens Committee for New York City, a non-profit that aids low-income New Yorkers in improving their neighborhoods. Anthony is a graduate of Johns Hopkins University.
Somak highlights the parallels between venture capital and the hospitality industry, emphasizing the importance of providing exceptional experiences. Anthony shares his interest in marrying his venture capital experience with his family's history in the trucking space, highlighting the potential for innovative solutions in this area. Both guests share the significance of optimism in entrepreneurship and investing, and discuss the value of strong syndicates for supporting startups.
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Music courtesy of Bensound.