The New Orleans BioFund has fully disbursed its initial pool of funding for small businesses, providing growth capital to 15 emerging companies in Greater New Orleans. The BioFund has now allocated $3 million to emerging businesses since late 2012 that have grown to more than 85 FTE employees in Southeast Louisiana. The fund is now transitioning to a micro-venture capital model in which startups can receive either equity or debt funding to support business growth. These new capital offerings will include equity investments, convertible debt instruments, and short-term loans.
