In February, the New York-based Valmiki Capital Management announced its subsidiary, Valmiki 504, had launched in New Orleans and would be run by Peggy A. Babin, a former associate dean at the A. B. Freeman School of Business at Tulane.
Valmiki 504 is now working on a new joint venture with TOPXIGHT LABS, a technology studio in New York, to launch a new tech incubator in New Orleans called TOPXIGHT LA. This partnership will bring the studio’s product development and company incubation expertise to the New Orleans tech startup ecosystem.
“It is very exciting to see the next step in Valmiki’s investment in the New Orleans entrepreneurial community,” said Quentin L. Messer, Jr., President & CEO of the New Orleans Business Alliance. “TOPXIGHT LA offers a new layer of deep domain expertise for New Orleans entrepreneurs, particularly those involved in knowledge sector industries that are critical to the diversification of our local economy.”
The incubator will be run by Dr. Arun Lakhotia, newly appointed Managing Director and Professor of Computer Science at the University of Louisiana at Lafayette who is currently on sabbatical. He will add development capabilities in the areas of deep machine learning, cybersecurity and data analytics.
“I decided to join the Valmiki/TOPXIGHT group as it gives me a perfect network to commercialize technologies that I have been working on for two decades, by bringing enterprise business expertise and value-added capital on a global scale to the technology developed locally in Louisiana. There is a tremendous amount of IP available in universities in Louisiana that needs partners with truly global connections to create successful startups. With Valmiki 504, I hope to be an instrumental part of a concerted effort to make that a reality,” said Dr. Lakhotia.
The goal of Valmiki 504 is to create centers of globally competitive excellence in Louisiana. Valmiki 504 has been involved in the New Orleans startup scene by launching its two venture capital funds, Valmiki Bayou Partners I & II LP, and through partnering with the coworking space and business incubator Landing Zone.
Negotiations are currently underway for a number of investments through the fund in Louisiana, including Cythereal, a Lafayette based cybersecurity company. Stay tuned for funding announcements and more information about TOPXIGHT LA.