Louisiana Private Companies Raise Over $215 Million in Venture Capital in 2022, the Highest Level Recorded by Cara Stone’s Louisiana Venture and Angel Capital Report
Cara Stone, LLP (“Cara Stone”) the nation’s fastest growing capital markets law firm released the Louisiana Venture and Angel Capital Report (“Report”) which shows that Louisiana companies raised a record level of venture capital in 2022. Louisiana companies raised a total of over $215,000,000 across 34 venture capital deals in 2022.
New Orleans, LA, August 17, 2023 --(PR.com)-- Cara Stone, LLP (“Cara Stone”) the nation’s fastest growing capital markets law firm released the Louisiana Venture and Angel Capital Report (“Report”) which shows that Louisiana companies raised a record level of venture capital in 2022.
Louisiana companies raised a total of over $215,000,000 across 34 venture capital deals in 2022. This followed a historically low year for venture capital raised in Louisiana in 2021. The Report shows venture capital decreasing during the Covid 19 pandemic. 2022’s numbers show a strong recovery with deal volume climbing dramatically to the highest number the state has seen in the reporting period.
“The last few years have been really exciting for Louisiana companies,” said Mark Graffagnini, Managing Partner at Cara Stone. “We saw two highly publicized tech related exits, several large private exits, and a huge recovery from the Covid-19 slow down.”
The report, released August 15, 2022, also examines the state’s Angel Investor Tax Credit Program (“AITC”), which businesses can obtain if designated as a Louisiana Entrepreneurial Business by Louisiana Economic Development. The number of angel investment deals under the AITC Program declined for the last three consecutive years. In each of the last three years, the total number of companies applying to receive tax credits for deals under the program was less than in 2011, the partial year in which the AITC Program was renewed.
“The AITC program has put new incentives in place to incentivize investment and help tailor the program to early-stage companies,” said Graffagnini. “These changes are something we are going to be watching for next year. We hope to see a significant increase in the program with the new incentives.”
Cara Stone has been active in the venture and angel capital space sense 2016 and continues to be a leader in the entrepreneurial ecosystem. This year, the report is available as an interactive map, allowing this community to explore the impact of venture capital in Louisiana across cities and industries. Sign up to get the Louisiana Venture and Angel Capital Report at carastone.com/louisianareport
About Cara Stone: Cara Stone, LLP (“Cara Stone”) is widely considered to be a top law firm in the realm of angel and venture capital and private equity. The firm is a leading capital markets law firms in the U.S. Cara Stone has lead approximately $1 billion worth of private equity transactions including one of the largest going public deals for a non-Silicon Valley tech company in 2018. The firm is seeking to expand to emerging capital markets to help those ecosystems develop stronger entrepreneurial systems and to continue to help the best companies in the small and mid-sized markets find capital, grow, and exit. Follow Cara Stone on Instagram (@CaraStone,LLP) or visit us at carastone.com to learn more.
Louisiana companies raised a total of over $215,000,000 across 34 venture capital deals in 2022. This followed a historically low year for venture capital raised in Louisiana in 2021. The Report shows venture capital decreasing during the Covid 19 pandemic. 2022’s numbers show a strong recovery with deal volume climbing dramatically to the highest number the state has seen in the reporting period.
“The last few years have been really exciting for Louisiana companies,” said Mark Graffagnini, Managing Partner at Cara Stone. “We saw two highly publicized tech related exits, several large private exits, and a huge recovery from the Covid-19 slow down.”
The report, released August 15, 2022, also examines the state’s Angel Investor Tax Credit Program (“AITC”), which businesses can obtain if designated as a Louisiana Entrepreneurial Business by Louisiana Economic Development. The number of angel investment deals under the AITC Program declined for the last three consecutive years. In each of the last three years, the total number of companies applying to receive tax credits for deals under the program was less than in 2011, the partial year in which the AITC Program was renewed.
“The AITC program has put new incentives in place to incentivize investment and help tailor the program to early-stage companies,” said Graffagnini. “These changes are something we are going to be watching for next year. We hope to see a significant increase in the program with the new incentives.”
Cara Stone has been active in the venture and angel capital space sense 2016 and continues to be a leader in the entrepreneurial ecosystem. This year, the report is available as an interactive map, allowing this community to explore the impact of venture capital in Louisiana across cities and industries. Sign up to get the Louisiana Venture and Angel Capital Report at carastone.com/louisianareport
About Cara Stone: Cara Stone, LLP (“Cara Stone”) is widely considered to be a top law firm in the realm of angel and venture capital and private equity. The firm is a leading capital markets law firms in the U.S. Cara Stone has lead approximately $1 billion worth of private equity transactions including one of the largest going public deals for a non-Silicon Valley tech company in 2018. The firm is seeking to expand to emerging capital markets to help those ecosystems develop stronger entrepreneurial systems and to continue to help the best companies in the small and mid-sized markets find capital, grow, and exit. Follow Cara Stone on Instagram (@CaraStone,LLP) or visit us at carastone.com to learn more.
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Cara Stone, LLP
Claire Tilmont
504-265-9955
carastone.com
Claire Tilmont
504-265-9955
carastone.com
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