New Orleans, LA, July 25, 2019 --(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 2018.
Louisiana companies raised a total of $191,290,356 in 24 deals in 2018. The total capital raised increased by over $65 million from 2017, making 2018 the year with the highest level of capital raised by Louisiana companies since Cara Stone started the report in 2011.
“2018 was a huge year for venture capital in Louisiana,” said Mark Graffagnini, Managing Partner at Cara Stone. “Between seeing Louisiana’s first tech company go public and having a record level of venture capital investment in the state, Louisiana companies continue to shine in their hard work, creativity, and level of entrepreneurship.”
The report, released July 22, 2019, 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. This trend emerged after 2015, the year in which the program was set to sunset.
Cara Stone has been active in the venture and angel capital space sense 2018 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/louisiana-data
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 has established itself as one of the leading capital markets law firms in the U.S. In 2018, Cara Stone 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. Cara Stone has offices in New Orleans, Chicago, Lafayette, and Los Angeles. 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. Visit carastone.com to learn more.