Founded in 1996 and based in New York, Pennell Venture Partners focuses on investing in business intelligence software, outsourced business services, administrative assistance software, data management and analytical tools, and productivity enhancing software. The firm typically invests in companies based in the New York metro area and seeks to invest $1.5 million in its portfolio companies. It prefers to have a board seat and be the lead investor, but can also participate in syndicates with known co-investors.