Louisiana Fund I

About The Fund

Louisiana Fund I is an early-stage venture capital fund managed by Joseph F. Lovett and Richard Babb, specializing in identifying investment opportunities that originate from research universities and organizations within Louisiana. The state's universities invest over $500 million annually on research in fields that align with the fund's interests. Their investment focus includes life sciences such as pharmaceuticals, biotechnology, agritechnology, information technology, and other high-tech areas with potential for substantial venture capital returns. The fund addresses the financing gap for early-stage high-tech companies in Louisiana, which are often underserved by sporadic investments from high net worth individuals and neglected by out-of-state funds that prefer late-stage companies requiring larger equity and debt financing. By making targeted investments, Louisiana Fund I aims to prevent the loss of promising local startups that might otherwise struggle for funding or relocate. Their portfolio companies range from medical devices, such as an implantable treatment for epilepsy and a catheter with oxygen sensing technology, to IT solutions like a cloud-based business platform. Other investments include innovative oncolytic cancer therapeutics, compact micro-tube heat exchangers for thermal management, valve repair implants for aortic insufficiency, and platforms for patient-friendly access to medical records. The team's significant experience in venture capital and financial management positions them to close the early-stage investment gap and provide right-sized investments that enable innovators to build successful companies. They maintain a strategy focused on commercial technologies with an emphasis on ventures that have ties to Louisiana, reflecting a commitment to bolstering the state's economic growth through traditional venture capital efforts.