Graffagnini + Associates, a local law firm in New Orleans, released a new report towards the end of Entrepreneur Week, Louisiana Venture & Angel Capital Report. The report “shows a significant amount of money flowing into later-stage entrepreneurial projects in the state, providing necessary capital for the entrepreneurial community to not only gain a firm foothold, but to sustain growth.”
“Those of us who deal with business owners and investors have recognized for some time that Louisiana’s business community is growing and attracting lots of attention,” said Mark Graffagnini of Graffagnini + Associates, which released the study. “The Louisiana Venture and Angel Capital Report marks the first time, however, that real-time, data-driven, publicly sourced information has been plugged into a comprehensive report.”
Back in March 2012, Time said a new culture of entrepreneurship is taking root in Louisiana. Additionally, Bloomberg, Forbes, and NBC News agreed New Orleans is the fastest growing city in the United States. These findings are further confirmed by the Graffagnini report. “Our report found that companies are closing on a significant amount of capital investment,” said Graffagnini. “If one includes investments made by those other than ‘professional venture capitalists’ the number of risk capital investment deals in Louisiana is growing and shows the emergence of a risk capital community in Louisiana and national interest from professional investors outside of Louisiana.”
“We’re excited about the spark of entrepreneurial spirit we see in Louisiana, and we think the numbers are impressive,” said Graffagnini.
The firm is planning to issue a regular report, covering topics such as:
- Most active Angel and Venture Capital activity in Louisiana
- Most active investment areas by industry
- Deal terms
For more information visit graffagninilaw.com.