The NO/LA Angel Network (NO/LAAN) is one of the fastest growing angel networks in the country. The Network has announced investments totaling more than $1 million in four Louisiana startups since the beginning of the year, including CyberReef Solutions, MobileQubes, SmartPak and Bioceptive.
Founded only two years ago, they now have 120 investing members. Members have made 11 investments in six companies for a total of $3.2 million since launching in October 2014.
“Our members are heavily engaged in mentorship of entrepreneurs through a number of incubators, accelerators and universities. We’re providing the “human capital” of knowledge, support and coaching, beyond our financial capital, to help entrepreneurs bring their ideas to fruition,” said Eckert.
Last year, the network primarily focused on technologies that complement the region’s core competencies and technology trends, including energy, water management, healthcare, biotech digital media, and Internet/SaaS/cloud enterprise solutions.
For the remainder of 2016, NO/LAAN will continue to deepen its relationship with Louisiana’s early-stage ecosystem. The Network is conducting due diligence on two others companies which may lead to further investments.
“The entrepreneurial explosion that is occurring in New Orleans and in other parts of Louisiana continues to drive a great need for early stage capital,” said Mike Eckert, chairman of NO/LAAN. “By attracting other angel investing entities into the NO/LA Angel Network, and by creating the sidecar fund we’re able to aggregate resources to support our state’s dynamic entrepreneurial ecosystem and to do our part to help it become successful.