The Louisiana Venture and Angel Capital Report was first released by Mark Graffagnini in 2012 when he began compiling Angel Investor Tax Credit information to determine the number of stage businesses obtaining angel and venture capital financing.
Graffagnini is now at Cara Stone, the law firm that released the 2017 report earlier today. “Louisiana companies raised a record amount of capital in 2016, showing signs that the trend in larger financings continues for Louisiana,” shared Graffagnini. ““The Report continues to serve as the benchmark by which venture and angel capital deal activity is measured in the state and policy is formed in Louisiana.”
The data-driven analysis of the venture and angel capital market shows that Louisiana companies raised over $145 million in 34 deals last year. However, the number of companies and total volume of deals has fluctuated since 2011 and declined in 2016 compared to prior years, according the the report.
“Although Louisiana must do more to encourage the people with the right experience to form venture capital funds in the state, Louisiana companies are accessing impressive amounts of capital, both from in-state investors and out-of-state investors.” said Graffagnini.
One of the notable funding announcements from 2016 came from zlien, a New Orleans-based startup that raised $5 million in growth equity in a round led by Altos Ventures. Be Well Nutrition, makers of the lifestyle beverage ICONIC PROTEIN, also raised funding, a $1 million capital announced last June.
To download the full report, click here.
