NOLA Angel Network, Spring 2023

Message from NOLAAN Chairman

Following a record-breaking 2022 investing year, the NO/LA Angel Network entered 2023 with significant momentum. In 2022 members of the Network invested a record $3.3 Million in 14 companies and enjoyed 2 liquidity events. Since its inception NO/LAAN members have invested $17 Million in 87 investing rounds in 44 companies (more than 1/2 going into Louisiana companies) and a total impact of over $150 million. To date in 2023 NO/LAAN Members have invested $1.4MM in 3 companies.

Amidst market and economic uncertainty NO/LAAN deal flow remains very robust with NO/LAAN seeing an investment opportunity just about every day. Many of the better deals we see are syndicated to NO/LAAN by other Angel groups across the country. NO/LAAN, with over 130 members, is one of the largest Angel investing groups in America. Our large investor base and national reputation attracts quality investment opportunities for our members and, through syndication, allows us to tap substantial out of state funding for local companies. These are two critical components necessary to grow a vibrant entrepreneurial economy.

Mike Eckert 

Board Chairman

New Orleans Entrepreneur Week

On Monday, March 27th, NO/LAAN led an Angel Investor Panel at The SHOP

as part of Idea Village's New Orleans Entrepeneur Week. Over 40 people attended the discussion, audience Q&A, and networking event to help kick off a week of celebrating and supporting GNO's start-up ecosystem!

Recent investments

One of NOLAAN’s investments looks like it is literally ready to take off!


Adranos solid rocket motors, built and tested in Mississippi, use a proprietary fuel that releases significantly more energy per unit weight of fuel than traditional rocket fuels. NOLAAN members invested in Andranos last summer.

Xeno Biosciences

Xeno Biosciences is a clinical-stage company led by an experienced team, dedicated to developing transformational therapies for metabolic diseases. XEN-101 is a first-in-class oral formulation, engineered to produce weight loss by mimicking the microbiome changes induced by gastric bypass surgery. 

NuvOx Pharma

NuvOx Pharma is a clinical stage pharmaceutical company developing a drug that improves the flow of oxygen from lungs to blood and from blood to tissue. Phase Ib/II clinical trials in stroke and oncology demonstrated safety and evidence of efficacy, and the company is preparing to run a trial in COVID-19 patients with Acute Hypoxemic Respiratory Failure (AHRF).


Matriark Foods is boldly changing food systems for the benefit of future generations. Matriark Foods upcycles farm surplus and fresh-cut remnants into healthy, delicious, low sodium vegetable products for schools, hospitals, food banks and other foodservice. 

NOLAAN Investment Stats

Total Capital Invested


Number Companies Invested


Number Investing Rounds


Average Round Size


Largest Round


Committee Reports

NOLAAN Membership Update:

Chairman: Daryl Schloz ( 217-415-3664

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

We have started various initiatives for growing membership including recruiting Northshore members, increasing the diversity of our membership, improving access for virtual members, and making it easier and more rewarding for current members to introduce new potential members to us.

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

PR & Marketing Update:

Chair: Byron LeBlanc ( 504-343-5703

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

Committee member Mark Mayer spearheaded the develop of a long-range marketing plan with elements—including earned and social media, newsletter, and speakers program to address various internal and external constituencies.

Implementation of this plan begins with this quarterly newsletter and will continue to phase in during the rest of the year. 

Public Policy Update:

Co-Chairs: Scott Whittaker ( 504-593-0836

                  Byron LeBlanc ( ) 504-343-5703

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

In advance of the legislative session, NOLAAN has been actively engaged with LED, GNO Inc and other Angel groups around the State to ensure the extension of Angel Tax Credits. In coalition of Angel groups around the State, we have hired a lobbyist, met with legislators, and have draft bills in the Senate and House. We are contacting other legislators around the State to explain the bill and encourage as many co-authors as possible.  If any members know legislators or would like to help in this effort, please contact either Scott or Byron. 

Sponsorship Update:

Chairman: Rick Mekdessie (

Purpose: Our mission is to expand NO/LAAN’s sponsorship-base into new categories, in hopes of generating new revenue for NO/LAAN and more value for our Sponsors.

We have been setting goals and making sponsor-recruitment plans, including asking NO/LAAN Members if they can help us identify or make soft-connections for us to potential sponsors. We will be launching a sponsorship campaign in April with a goal to recruit within various new categories.

If members are aware of any potential sponsors or leads, please share their contact information or send an email introduction to our Sponsorship Committee Chair Rick Mekdessie.

Below are our sponsors.

Please support them with your business

as they have supported NO/LAAN.

Data Management Update:

Chairman: Alison Hartman (

(Libby Favrot, Joe Lagarde, and Rick Mekdessie)

Purpose of committee: Consolidate and streamline data management and reporting.

Our first priority is updating and reconciling the information in Seraf. This is a great tool for investors, but it’s only as good as the data entered. Once data cleanup is complete we have plans for training in Seraf to review member, deal, and pipeline data to determine the best course of action. Feel free to send questions about your data.

Member Calendar Events

Screening Session

Member Meeting


Registration Links

April 11

April 20



May 9

May 18




June 29



Contact Us

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

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