Software M&A Firm Isis Capital To Relocate To New Orleans

Isis Capital Management LLC, a Connecticut investment firm led by Louisiana native Ron Bienvenu, is moving its headquarters and its two software portfolio companies to New Orleans next month, according to a report by the The Times-Picayune.

Isis Capital buys struggling enterprise software companies, restructures them, and then sells or merges the companies.  Bienvenu’s business model is to target companies under $20 million in revenue and generate at least 50 percent of their revenue from “maintenance” fees.

Isis is also moving its two portfolio companies, Process Software and alqeumyiQ Demand Data Analytics, to New Orleans early this month.  Bienvenue has been involved in over 50 public and private M&A transactions and has raised over $250 million in various financings, ranging from venture capital to senior secured debt.

As part of the move, Isis is also launching the Louisiana Buyout Fund.  The fund is raising money to be used to purchase software companies that would then be moved to Louisiana.  Isis put up the first $7 million with the hopes to grow to $25 million by the end of the year.

The Digital Media Tax credit program is the reason Isis and its companies decided to make the move to Louisiana.  TheTimes-Picayune reports that Bienvenu took Louisiana’s offer to Florida, Texas, Alabama, Massachusetts, California, and  Connecticut to see if any of the states could match it. When they could not, he decided to relocate to New Orleans.   This is the same program that the state used to lure Electronic Arts and Gameloft, and BitRaider to Louisiana.