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New Louisiana angel investor group open to funding life sciences startups around the country

Like beignets? Then throw your hat, perhaps, in the ring to get an investment from the New Louisiana Angel Fund. The new fund has raised $1.5 million from 27 investors, according to a regulatory filing, and could raise up to $2.5 million – though it’s not disclosing exactly how much.   This pooling of cash isn’t specifically directed towards healthcare […]

Like beignets? Then throw your hat, perhaps, in the ring to get an investment from the New Louisiana Angel Fund.

The new fund has raised $1.5 million from 27 investors, according to a regulatory filing, and could raise up to $2.5 million – though it’s not disclosing exactly how much.

 

This pooling of cash isn’t specifically directed towards healthcare investment, but welcomes applicants in the life sciences field. It’s being managed, after all, by the Biomedical Research Foundation of Northwest Louisiana. More than 30 percent of the startup opportunities have been in the health sciences arena, said David Smith, executive director of the foundation’s entrepreneurial acceleration program.

You don’t have to be based in Louisiana to apply. The fund ultimately expects to seed startups with $250,000 to $1 million, he said.

“We’ve done our first close, and we’re going to have a second close pretty soon,” Smith said.