Venture Capital New Orleans
Venture Capital Funding in New Orleans
Venture capital funds have filled a financing gap for start ups and small businesses in New Orleans. One of these venture capital funds is actually a non profit venture fund to help with economic development in the New Orleans area. The New Orleans Startup is funded by the Greater New Orleans Inc, a group that helps develop the still struggling city.
The New Orleans Startup fund is being spearheaded by Greater New Orleans Inc., a regional economic development group in southeastern Louisiana. Officials say it
currently stands at $3.9 million and the target size is $7 million. The fund consists of private, state and federal funds.
Qualifying companies must be located within the 10-parish New Orleans region and must demonstrate a clear plan to grow revenue to $20 million to $50 million annually within five to seven years.
Companies that qualify could get $25,000 to $250,000 from the fund. The fund also will provided technical assistance to qualifying companies. Source
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