SOSV, a venture capital firm that runs the IndieBio development program for early-stage startups in the growing life sciences sector, has signed a 10-year lease for 24,814 square feet of office, laboratory and conference space at Seven Penn Plaza. The property is owned and managed by The Feil Organization.
SOSV will occupy the entire ninth floor of the iconic building for its life sciences program, IndieBio. Construction plans call for the buildout of a BSL-2 laboratory, offices, and conference and event space for startups and researchers supported by the firm. SOSV was recently awarded a $25 million grant from the New York State Development Corporation to expand the life sciences sector in New York.
Earlier this year, the prestigious Savills Tech Cities Index ranked New York first among 30 cities worldwide due to its vast talent pool, extensive transportation infrastructure, and abundance of venture capital for startups. Many tech companies have opted to locate offices in the Flatiron District, which neighbors Seven Penn Plaza.
SOSV is a global venture capital firm that operates early-stage startup development programs: HAX (Shenzhen/Newark/Tokyo/San Francisco) for hardtech, IndieBio (San Francisco and New York) for life sciences, and cross-border internet programs in Shanghai, Taipei, and Boston. The five programs help launch 135 new startups each year with pre-seed investment, expert coaching, and a deep community of mentors. SOSV has more than $1 billion in assets under management, and startups amongst its high-flying portfolio include Notco, Opentrons, Upside Foods, MycoWorks and BitMEX.
SOSV also recently announced plans to establish a major facility in Newark, New Jersey for the HAX startup program.
