The NO/LA Angel Network is one of the largest and most active angel-investing groups in America. With 132 members, during the second quarter and first half of 2023 the Network saw investment activity unprecedented in its 9-year history and deployed a record-breaking amount of capital. Through June of this year NO/LAAN received 161 investment opportunities, just about one per day. As NO/LAAN’s deal process vetted the most promising of these, by the end of this month its Members will have invested $2.9 Million year to date in 12 companies, both record mid-year numbers for NO/LAAN, and remarkable given the lethargy in early stage capital markets across the country.
On an exciting note, during the first half of 2023 two companies in which NO/LAAN Members had invested incurred exits/liquidity events, which brought attractive returns to the investors in these. One of which was Adranos which was featured both in the Wall St Journal as well as CNBC.
Also in Q2 NO/LAAN saw the initial closing of its second side-car fund, The Pelican Angel Fund II, which is now actively investing alongside the Network.
NO/LAAN’s Public Policy Team, in conjunction with other angel groups in Louisiana worked with legislatures to extend the 25% and 35% Louisiana Angel Tax Credit through 2030, an attractive incentive for investors to support early stage entrepreneurs.
On the community service front, fifteen Members of NO/LAAN are participating as mentors in the Loyola University of New Orleans’ LaunchU entrepreneur development program.
All in all a very positive first half of 2023 for NO/LAAN.