Private Equity Firm Closes First Deal and Moves to New Orleans

Tulane graduate and entrepreneur Brian Isern co-founder Sibling Capital less than a year ago with sister Dr. Sandra Coufal. The private equity firm based in Rancho Santa Fe, CA is now moving its home base to New Orleans into the New Orleans BioInnovation Center.

Sibling Capital participated in Relypsa’s $80 million Series C funding transaction along with companies OrbiMed Advisors, 5AM Ventures, New Leaf Venture Partners, Sprout Group, Delphi Ventures and Mediphase Venture Partners. The financing deal has set the company up for investment in areas of chemistry, medicine and material sciences.

Isern, who is also the Vice President of Sibling Capital, said, “We think New Orleans is almost a mini Silicon Valley. It’s a hotbed for a lot of things right now.”

On Wednesday, Sibling Capital announced its first financing through its first fund, Sibling Capital Fund I. The siblings are looking to invest in the New Orleans biotech and entrepreneurial community and have their eyes on five companies that they are currently researching for potential future investments.

Unlike most private equity firms, Sibling Capital raises a separate pool venture for each investment instead of grouping them together. This allows wealthy investors to see step-by-step where their money is going.

“In evaluating investment opportunities, it became apparent to me that I had to diversify our portfolio into a venture capital strategy which could provide a sound return in an otherwise stagnant and volatile economy. Sibling Capital presented a sophisticated and convincing option with its first financing opportunity,” said Jim Givan, investor in Sibling Capital.

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