After nearly a decade of focusing on industrials in Silicon Valley, Eclipse Ventures has finally expanded its reach to the East Coast. The firm has opened its second office in New York’s trendy Soho neighborhood, marking a significant milestone in its growth trajectory.
A Growing Presence in the East Coast
Kaitlyn Glancy, a partner at Eclipse who joined the company last year after eight years at Flexport, attributed the decision to expand to New York to the pandemic-driven shift in focus towards legacy industries like supply chain and transportation. "The pandemic made people wake up to the issues in these sectors," she said. "Since then, we’ve seen a noticeable rise in companies looking to fix these problems."
Glancy pointed out that the East Coast, particularly New York, has a rich history of industrial innovation. "When I meet with founders, they often mention their family’s legacy and current events like broken supply chains and transportation systems," she noted.
Setting Up Shop in New York
Eclipse’s new office in Soho will not only serve as a hub for its East Coast operations but also provide a local presence for the companies it has already backed. The firm has invested in several startups on the East Coast, including Augury and Reframe Systems.
Augury, a machine health diagnostic company that Eclipse backed in 2015, was last valued at $1 billion in 2021. Reframe Systems, based in Massachusetts, built a microfactory to produce small sustainable homes. Glancy emphasized that having an office in New York will enable the firm to tap into this growing ecosystem and support more startups.
Benefits of Expanding to New York
In addition to accessing a talented pool of entrepreneurs and innovators, Eclipse’s new office will also provide easier access to Washington, D.C., which is becoming increasingly important as the firm invests more in defense tech. "We’re seeing founders and success in our existing portfolio companies in this industrial space," Glancy said. "Let’s go double down!"
A Growing Trend in New York
Eclipse isn’t the only venture capital firm expanding its presence in New York this year. Index Ventures recently told TechCrunch that they are looking to add multiple new people to their office, which has been impacted by the loss of Paris Heymann, one of the firm’s founding partners.
According to PitchBook data, New York startups raised $5.6 billion across 406 deals in Q3 2024, solidifying its position as the second-largest startup ecosystem in the U.S.
Eclipse’s Commitment to Investing in New York
Glancy emphasized that Eclipse is actively seeking new companies on the East Coast and wants to be at the center of gravity for industrial innovation. "We want everybody who’s playing in that industrial space to be working with us, having conversations with us, or building around us," she said.
A Strong Industrial Ecosystem
The East Coast, particularly New York, has a rich history of industrial innovation and entrepreneurship. Eclipse’s decision to expand its presence in the region reflects the growing interest in this sector.
As the firm continues to invest in startups on the East Coast, it will likely play a significant role in shaping the future of industry and innovation in the region.
About Eclipse Ventures
Eclipse Ventures is a venture capital firm that focuses on industrials, with a portfolio that includes companies like Augury and Reframe Systems. With its new office in Soho, Eclipse is expanding its reach to support more startups on the East Coast.
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