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Boot64 Ventures is a venture capital fund established in 2023, headquartered in Metairie, Louisiana, with a mission to support early-stage entrepreneurs in the state. The fund was created to address the funding gap for startups in Louisiana, particularly those founded by veterans, socially and economically disadvantaged individuals, and rural residents. Boot64 Ventures aims to create jobs and stimulate the local economy by investing in innovative small businesses.
The fund, known as Magnolia Fund I, has a total size of $10 million, which includes $5 million raised from private investors and $5 million from the State Small Business Credit Initiative (SSBCI) through Louisiana Economic Development. This fund is notable for being the first in Louisiana to complete all SSBCI program requirements and begin deploying capital, marking a significant milestone for the state's startup ecosystem.
Currently, Boot64 Ventures manages a portfolio of 30 companies across various sectors, including healthcare, consumer products, logistics, AI, biotech, fintech, SaaS, energy, climate, and frontier technologies. The firm emphasizes hands-on assistance, providing entrepreneurs with resources for market research, product development, and business planning to ensure their success.
Boot64 Ventures focuses on investing in early-stage startups located in Louisiana, specifically targeting pre-seed and seed stages. The firm seeks to provide not only financial support but also hands-on assistance to help entrepreneurs navigate the challenges of starting and growing their businesses. The sectors of interest include healthcare, consumer products, logistics, artificial intelligence, biotechnology, fintech, software as a service (SaaS), energy, climate, and frontier technologies.
The fund's investment strategy emphasizes supporting founders who are veterans, socially and economically disadvantaged individuals, and those from rural areas. Boot64 Ventures looks for entrepreneurs who have demonstrated a capacity for capital efficiency, often valuing those who have successfully leveraged grant funding into marketable products. The firm typically invests in companies that can show measurable economic impact in Louisiana, particularly in terms of job creation.
Boot64 Ventures aims to deploy an average check size of approximately $150,000 to $200,000, although specific check sizes are not publicly disclosed. The firm is committed to fostering a supportive environment for its portfolio companies, offering guidance in areas such as market research, product development, and management structure.
Boot64 Ventures has built a diverse portfolio of 30 companies across various sectors. Notable portfolio companies include:
This portfolio reflects Boot64 Ventures' commitment to supporting a wide range of industries, with a particular focus on companies that can drive economic growth in Louisiana.
John Roberts III — Managing Partner. John has a background as a former convenience store owner and has transitioned into entrepreneurship and investment. He is committed to supporting local startups and has experience as an angel investor.
Mickal Adler — General Partner. Mickal is a local attorney and entrepreneur, with family ties to Adler's Jewelers, a well-known institution in New Orleans. His legal expertise complements the firm's investment strategy.
Branson — Analyst. Branson supports the investment team with research and analysis, contributing to the firm's decision-making process.
Both John and Mickal are first-time fund managers, bringing fresh perspectives to the venture capital landscape in Louisiana. Their involvement in the National Venture Capital Association (NVCA) and the Jefferson Chamber of Commerce further enhances their credibility and network within the industry.
To pitch to Boot64 Ventures, founders should submit their proposals through the firm's website at boot64.com. The pitch deck should include a clear overview of the business model, market analysis, financial projections, and the team behind the startup. Boot64 Ventures values concise and well-structured presentations that effectively communicate the startup's vision and potential.
While specific response times are not publicly disclosed, founders can expect a thorough review process. Boot64 Ventures encourages warm introductions, particularly from trusted sources within the Louisiana startup ecosystem, to enhance the chances of securing a meeting.
In May 2024, Boot64 Ventures announced the closing of its Magnolia Fund I at $10 million, marking a significant milestone for the firm. This fund is the first in Louisiana to receive and deploy capital from the State Small Business Credit Initiative (SSBCI), which aims to support local entrepreneurs.
As of mid-2024, Boot64 Ventures has deployed $1.5 million across 10 companies, with an additional five checks pending, totaling approximately $900,000. The firm is targeting its 35th investment by the end of 2024 or early 2025, reflecting its commitment to supporting the growth of Louisiana startups.
Boot64 Ventures has been featured in various media outlets, including NVCA member spotlights and coverage by NOLA.com and Biz New Orleans, highlighting its role in enhancing the Louisiana startup ecosystem.
What are Boot64 Ventures' investment criteria?
Boot64 Ventures invests in early-stage startups located in Louisiana, particularly those founded by veterans, socially and economically disadvantaged individuals, and rural residents. The firm focuses on sectors such as healthcare, consumer products, logistics, AI, biotech, fintech, SaaS, energy, climate, and frontier technologies.
How can I apply or pitch to Boot64 Ventures?
Founders can pitch their ideas through the Boot64 Ventures website at boot64.com. The application process typically involves submitting a business plan and financial projections.
What makes Boot64 Ventures different from other investors?
Boot64 Ventures emphasizes hands-on support in addition to funding. The firm provides assistance with market research, product development, business planning, and management structure to ensure entrepreneurs have the resources they need to succeed.
What is the geographic scope of Boot64 Ventures?
The firm exclusively invests in startups based in Louisiana, with a mandate that at least 90% of investments must demonstrate measurable economic impact in the state.
What is the typical fund size and check size?
Boot64 Ventures has a total fund size of $10 million, with an implied average check size of approximately $150,000 to $200,000 based on deployment data.
What is Boot64 Ventures' post-investment involvement?
Boot64 Ventures remains actively involved with its portfolio companies, providing ongoing support in areas such as market research, product development, and business planning to help ensure their success.
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