Graffagnini + Associates, a local law firm in New Orleans, released the second, Louisiana Venture & Angel Capital Report, the first of which was released last March to help Louisiana measure private investment into businesses throughout the state.
“Louisiana companies raised a record amount of capital in 2013, showing signs that the trend in larger financings continues forLouisiana,” said Mark Graffagnini of Graffagnini + Associates. “The second release of the Louisiana Venture and Angel Capital Report continues to provide the only data-driven, publicly sourced information that has been plugged into a comprehensive report on Louisiana angel and venture capital. This year’s report details even more trends that serve as a basis to gauge the private investment environment in Louisiana.”
“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 Graffagnini. “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.”
Statistics were pulled from Louisiana Economic Development (LED). Graffagnini said the report found that companies are closing on a significant amount of capital investment, with over $61 million in deal activity in 2013.
Contributing researcher Sam Peake said, “The data indicates an evolving investment ecosystem in Louisiana. Incubators, accelerators, and universities are driving new growth through their business support and research and development, while larger companies are finding Louisiana attractive through incentive programs. If these trends continue, we will see increased entrepreneurship and economic development in Louisiana.”
“We’re excited about the continued entrepreneurial spirit we see in Louisiana, and we think the numbers indicate an expanding and maturing capital market,” said Graffagnini.
For more information visit graffagninilaw.com.