1834 Ventures, an early-stage venture capital firm, has launched its first $20 million fund to invest in startups founded by Tulane University alumni, faculty, and the broader community involved with Tulane’s initiatives.
The firm has completed a first close of $4.4 million, with 30 investors from 11 states, and has already backed two startups while seeking more opportunities. By leveraging Tulane’s national alumni network, 1834 Ventures aims to enhance Louisiana’s startup ecosystem, diversify the state’s economy, and encourage businesses to relocate to the area.
Although named after the year Tulane was founded, 1834 Ventures operates independently to support innovation within the Tulane community. With over $80 billion in enterprise value from alumni-led businesses, the fund targets an undercapitalized entrepreneurial pipeline.
Additionally, 1834 Ventures serves as a Louisiana Opportunity Fund in partnership with the Louisiana Economic Development Corporation, benefiting from a public-to-private capital match through the U.S. Treasury’s State Small Business Credit Initiative.
KEY QUOTES:
“With the Louisiana Opportunity Funds we’re not just growing our economy — we’re crafting an ecosystem that will bring our best and brightest back to Louisiana. By pairing capital with innovation, we’re ensuring more Louisianans can build their business and their future right here at home.”
Chief Innovation Officer Josh Fleig
“This announcement is an excellent example of how long-anticipated SSBCI resources are now flowing into the market through investments from a venture firm managed right here in New Orleans. One of SSBCI’s greatest successes in Louisiana has been sparking the creation of brand-new venture capital firms, of which 1834 Ventures is now the fourth to launch. Investments like these will help our market reach its full potential, which is why GNO, Inc. has worked hard to ensure investors know how to leverage this opportunity, and that the program truly meets the needs of our market.”
President and CEO of Greater New Orleans Michael Hecht
