Fall 2023

Message from the Chairman

During the 3rd Quarter of 2023 the NO/LA Angel Network saw continued record-breaking deal flow, investment activity and membership growth.

Year to date in 2023 NO/LAAN Members have invested $3.3 Million in 15 companies. An interesting driver of this is the large number of follow-on financing rounds being raised by NO/LAAN portfolio companies. Certain of these are bridge rounds reflecting general tight capital market conditions and companies waiting for these conditions to improve before they raise larger rounds.

As a point info, during market periods when many follow-on rounds prevail, which generally are less risky than earlier investing rounds, less capital is available for companies raising first-time rounds. This follow-on intense deal pattern is continuing into the Q4 2023 and will likely continue into 2024.  

Also, during Q3 2023 NO/LAAN’s second fund, The Pelican Angel Fund II, formally launched and has already invested in four companies: Renibus Therapeutics, BioAeshtetics, Healionics and LIMBER Prosthetics, interestingly all healthcare companies.

We are pleased and honored that the South Mississippi Angel Fund has joined NO/LAAN, reflecting NO/LAAN’s continued expansion throughout the Gulf Coast Region from its New Orleans roots.

In Q3 fifteen NO/LAAN Members participated as volunteer mentors in Loyola University’s LaunchU entrepreneur program, to which in aggregate they provided several hundred hours of time and service to our community. We are looking forward to seeing NO/LAAN Members and Sponsors at our Annual Investor Conference on November 10th, and with their significant others at the reception the evening before.

Mike Eckert 

Board Chairman

Upcoming Investment

LIMBER is a medical technology company creating the next generation of functional and accessible prosthetic devices.

LIMBER gives prosthetists the tools to efficiently create comfortable prosthetic limbs, through their digital workflow and advanced manufacturing. Their prosthetic devices can be tailored specifically to each individual’s needs, through scanning the amputee’s limb and then manufacturing a personalized prosthetic through the use of 3D printers. 

Portfolio Company Update

Portfolio company, NuvOx achieved the Gold Level recognition on the Pepperdine Graziadio Business School's sixth annual Most Fundable Companies® List. NuvOx Therapeutics competed against over 3,000 of early-stage US companies to be named one of 17 companies in total.

Portfolio Diversification

NO/LAAN is an industry agnostic angel network open to exploring and partnering with businesses in any field or sector. The diversity of our portfolio is illustrated by the chart below. 

Current Investment Stats

Total Capital Invested

$18.6 M

Number Companies Invested


Number of Investing Rounds


Committee Reports

Membership Update:

Chairman: Daryl Schloz - Daryl@Schloz.com

Purpose: We want to grow our membership in Louisiana and around the country

We are pleased that we have increased our membership by 11 members and 1 fund so far this year. These new members are from Louisiana and other states as well. We continue to pursue various initiatives for growing membership locally and in other areas and making virtual access seamless.

Getting recommendations for perspective new members from our current members continues to be our best source of growth.

So if you have any potential new members, we ask that you provide us contact information to reach out to them.

Public Policy Update:

Co-Chairs: Scott Whittaker - swhittaker@stonepigman.com

  Byron LeBlanc - brnblb@gmail.com

Purpose: Coordinate with Economic Development organizations and other Angel groups to defend and enhance legislation effecting Angel investments, in particular the Angel Tax Credit. 

After the successful passage of legislation extending and enhancing the Louisiana Angel Investor Tax Credit (LAITC) this summer, NOLAAN hosted a breakfast with Senator Pat Connick in appreciation for his support and introduction of a bill at our request to extend the LAITC.

The Committee has Also been keeping an eye on the elections. After the elections, the Committee will recommence its outreach efforts, to educate legislators about the importance and the benefits of angel investors and the LAITC to Louisiana.

If any members have contacts with legislators, or would just like to help in the future efforts of the Public Policy Committee, please contact either Scott or Byron.

Sponsorship Update:

Chairman: Rick Mekdessie - rickmekdessie@gmail.com

Purpose: Our aim is to attract additional sponsors to support NO/LAAN, offering them valuable investment insights and worthwhile returns for their backing.

Building on the achievements of our last gathering, we are delighted to unveil the upcoming NO/LAAN Angel Investor Conference and the associated sponsorship possibilities!

Click here to learn more about Sponsorship Opportunities for these events!

Please reserve Thursday, November 9th on your calendar and plan to join us at the Calcasieu restaurant on Tchoupitoulas Street-- significant others are welcome to attend! This event serves as an excellent platform for participants to network, exchange ideas, and build relationships with fellow investors.

The main conference session is slated for November 10th at Gallier Hall on St. Charles Avenue. It will include special presentations by Dr Ron Weisman, Stanford

University, Chairman Angel Capital Association and Jeffrey Schwartz, Director of Economic Development, City of New Orleans, as well updates from four exciting portfolio companies from industries as diverse as rocket motors, biotech and pet care.

Attendees can anticipate in-depth information on investment trends, discover fresh investment opportunities, and receive updates on our past investment ventures.

Conference Flyer

Speaker Agenda


Public Relations Update:

Chairman: Byron LeBlanc - brnblb@gmail.com

Purpose: Raise brand awareness for NOLAAN and the value of Angel Investing to the start up ecosystem in Louisiana and Central Gulf Coast.

As NOLAAN continues to grow, our deal flow and members contributions to the

entrepreneurial ecosystem are also accelerating. As a volunteer organization we need help from you. If there are activities NOLAAN members are participating in, or you think they would be interested in, please let Libby or me know. If possible, send pictures as well.

Please support our sponsors with your business

as they have supported NO/LAAN

Member Calendar Events

Upcoming Member Meetings

October 26th - Registration Link

December 14th - Registration Link

Contact Us

This is a NOLAAN publication and any comments or questions should be sent to Libby Favrot, Managing Director, at libby@nolaangelnetwork.org

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