New Orleans Startup Fund

What New Orleans Startup Fund does

The New Orleans Startup Fund (NOSF) is a 501(c)(3) nonprofit evergreen seed investment fund headquartered at 1100 Poydras Street, Suite 3475 in New Orleans, Louisiana. Founded in 2010 and originally incubated by Greater New Orleans, Inc. (GNO, Inc.), NOSF deploys $25,000 to $100,000 seed checks into early-stage ventures headquartered in the 10-parish Greater New Orleans region that have demonstrated proof-of-concept and initial revenue. The fund combines capital deployment with structured mentorship, business-plan evaluation, financial modeling review, due diligence support, and post-investment Board Member engagement, then connects portfolio companies to its network of angel investors and regional VC funds (Gulf South Angels, LA.IO Growth Fund, Propeller Impact Fund) to complete $250K-$1M growth rounds.

The fund's economics are non-traditional: as an evergreen vehicle, all profits from portfolio exits and follow-on rounds are reinvested back into the fund rather than returned to limited partners, creating permanent patient capital for the regional ecosystem. NOSF's capital base is supplemented by foundation grants (W.K. Kellogg, RosaMary, Verizon, Mary Freeman Wisdom, U.S. Economic Development Foundation) and federal EDA grants, most recently a combined $1.95M EDA award in October 2022 that scaled both the fund's technology entrepreneurship mandate and a Propeller-led inclusive entrepreneurship initiative. Notable portfolio outcomes include Levelset's $500M exit to Procore in October 2021 (the largest VC-backed exit in Louisiana history), CultureConnect's acquisition by Axiell in September 2020, and Resilia's $8M Series A in 2020. The 2023 Impact Report claims portfolio companies have collectively raised $194.5M+ in venture capital, created 740+ full-time and 166+ part-time jobs, generated $77.8M in revenue in 2022, and achieve a $1:$74 NOSF-invested-to-follow-on-raised multiplier.

The fund is governed by a Board chaired by Matt Wisdom (CEO of TurboSquid) with CEO Jimmy Roussel and CIO Blake J. Stanfill, Sr. leading a 1-10 person staff. NOSF also runs the PowerMoves.NOLA initiative (launched 2014) supporting minority-owned businesses and has built one of the largest portfolios of women and people of color-owned technology companies in the southeastern U.S., with 43% minority-owned, 29% woman-owned, and 40% social-impact-designated portfolio composition per its 2023 Impact Report.

Name

New Orleans Startup Fund

Legal name

New Orleans Startup Fund

Website

https://neworleansstartupfund.org

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

The New Orleans Startup Fund is a 501(c)(3) nonprofit evergreen seed fund that invests $25,000-$100,000 plus mentorship into early-stage ventures across the 10-parish Greater New Orleans region, serving as Louisiana's most active seed-stage investor with a focus on inclusive entrepreneurship.

Ownership category

akta.pro rank

Product category

Seed-stage Venture Capital

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Emerging Managers / Seeding Platforms (FSAHAKAI)

akta.pro secondary industry

SDG / Thematic Sustainable Investment Funds (FSANAJAN)

Keywords

• Seed capital investment
• Nonprofit venture fund
• Early-stage startup funding
• Entrepreneurship ecosystem development
• Evergreen seed fund

Headquarters

HQ city

New Orleans

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Returns (Evergreen Model): NOSF operates as an evergreen fund where all profits from portfolio company exits and returns are reinvested back into the fund to support future investments. This differs from traditional venture funds that return capital to limited partners.
2. Grant Funding: Public and private grant funding from government sources including the U.S. Economic Development Administration (EDA) and foundation support from organizations like the W.K. Kellogg Foundation, RosaMary Foundation, and others.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

The New Orleans Startup Fund (NOSF) is a nonprofit 501(c)(3) evergreen seed fund that provides seed capital investments of typically $25,000 to $100,000 to early-stage ventures in the 10-parish Greater New Orleans region. Beyond capital, NOSF provides mentorship, business plan evaluation, financial modeling review, due diligence support, and introductions to angel investors and early-stage venture capital firms to help portfolio companies become venture-ready.

Product overview

The New Orleans Startup Fund (NOSF) is a non-profit 501(c)(3) evergreen seed investment fund that provides seed capital and business assistance to early-stage ventures in the Greater New Orleans region. NOSF does not offer a technology product; rather, it operates as a venture development fund that invests between $25,000 and $100,000 in startups demonstrating proof-of-concept and existing revenue. The fund provides mentorship, introductions to angel investors and early-stage VCs, and operational assistance to help portfolio companies become venture-ready. NOSF has invested in portfolio companies including Resilia (SaaS platform for nonprofits), Levelset (construction payment management software), Mymee (digital health programs), CultureConnect (digital experience platform), and Check/Block Lawncare (mobile app for lawn care operators). The fund also runs PowerMoves.NOLA, an initiative supporting minority-owned businesses through legal, financial, and strategic guidance.

Differentiator

Problem solved

Functional benefit

Products and services

• Seed Capital Investment
• Mentorship and Business Assistance Program
• PowerMoves.NOLA Inclusive Entrepreneurship Initiative

Quantifiable outcome

• For every $1 invested, portfolio companies raise $74 in follow-on capital
• +4 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• PropellercoreStrategic or Co-development Partner · 11 October 2022NOSF partners with Propeller, a local nonprofit, to provide inclusive access to business support and capital for entrepreneurs in socially and environmentally beneficial sectors. The EDA grant scaled up a successful pilot program between the two organizations.
• Greater New Orleans, Inc. (GNO, Inc.)coreStrategic or Co-development PartnerGNO, Inc. helped found NOSF and continues to support the fund's mission to grow companies and strengthen the regional economy. NOSF was originally incubated by Greater New Orleans, Inc.
• The Idea VillagecoreStrategic or Co-development PartnerNOSF collaborates with The Idea Village, a 501(c)(3) nonprofit that identifies and supports potential high-growth entrepreneurs. The Idea Village produces New Orleans Entrepreneur Week (NOEW) and has supported over 13,300 entrepreneurs.
• PowerMoves.NOLAcoreStrategic or Co-development PartnerNOSF initiative launched in 2014 to facilitate an inclusive entrepreneurial ecosystem and help minority-owned businesses scale through legal, financial, and strategic guidance.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• JumpStart Inc. Cleveland-based nonprofit venture development organization explicitly cited in NOSF's history as a model. Provides seed capital, mentorship, and ecosystem support to early-stage ventures in Northeast Ohio — directly comparable structure, mission, and region-of-focus approach.
• Innovation Works: Pittsburgh-based seed-stage investor and one of the most active early-stage funds in the U.S. Explicitly cited as a model for NOSF. Provides seed capital, follow-on funding, and accelerator services to technology startups in southwestern Pennsylvania.
• Rev1 Ventures: Columbus, Ohio-based venture development organization that combines seed investing, startup services, and corporate connections. Operates a similar nonprofit/impact-oriented model with regional economic development goals, closely mirroring NOSF's structure.
• Village Capital: Impact-focused venture capital firm that supports early-stage entrepreneurs solving major social and economic problems. Operates a peer-selected investment model and emphasizes underrepresented founders — closely aligned with NOSF's inclusive entrepreneurship mandate.
• Forward Cities: National nonprofit that supports inclusive entrepreneurial ecosystems in mid-sized U.S. cities, providing capacity building, network support, and technical assistance — directly comparable to NOSF's role in the New Orleans ecosystem.

Emerging players

• Propeller: New Orleans-based nonprofit that supports social impact and environmental entrepreneurs; explicitly named NOSF partner for inclusive entrepreneurship via a joint $750K EDA grant. Comparable mission on impact ventures but smaller investment focus.
• The Idea Village: New Orleans-based 501(c)(3) that identifies and supports high-growth entrepreneurs and runs New Orleans Entrepreneur Week (NOEW). Strategic partner of NOSF with overlapping deal-flow pipeline and ecosystem role.
• gener8tor: National venture fund and accelerator network that runs investment programs in multiple U.S. cities, including programs that have been deployed in Louisiana. Comparable model of regional accelerator plus seed fund partnerships.

Others

• Ewing Marion Kauffman Foundation: Kansas City-based private foundation that is the largest U.S. philanthropy focused on entrepreneurship, funding research, programs, and ecosystem support. Operates a similar place-based entrepreneurship strategy but at national scale, and supports similar models to NOSF.
• Techstars Impact (Techstars Sustainability / Equitech Accelerators): Techstars' accelerator and fund programs that support impact-oriented and inclusive startups, including partnerships with foundations and corporate sponsors. A larger, broader platform that occasionally deploys capital in markets like New Orleans.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/NOLAStartupFund

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Orleans Startup Fund