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New Orleans Business Leaders Launch Venture Capital Fund

Monday, December 06, 2010

Excerpt of story provided by The Times-Picayune
Written by Jaquetta White


Hoping to attract and grow entrepreneurial talent in the New Orleans area by supplying hard-to-find early stage capital, a group of New Orleans business leaders in partnership with GNO Inc. on Monday launched an evergreen venture capital fund.

Two years in the making, the New Orleans Startup Fund, a 501(c)(3) non-profit, has plans to provide almost $4 million in venture capital to "high growth potential" startup businesses or ideas headquartered in the 10-parish New Orleans metro area that GNO Inc. services. The fund raised the money through a mix of private, state and federal funds...

...The fund is modeled after venture funds around the country, including the JumpStart program in Cleveland...

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