Louisiana SSBCI venture capital, Growth Fund direct and Seed Capital funds

The Growth Fund invests directly

The Growth Fund provides $250,000 to $1 million in dilutive capital on a 1:1 basis, matching every dollar of private capital raised with a dollar of state investment. Applicants must secure the private match within 90 days of the investment close, so the match is a deadline rather than an aspiration.

It targets Louisiana-based C corporations, or companies able to convert to that structure, with scalable business models and revenue. It describes itself as industry agnostic while excluding lifestyle businesses, and it invests at seed to Series A.

The instruments are specific. The fund invests through convertible notes or priced equity and does not accept SAFEs. It describes a 4 to 6 week diligence process, with capital deployment possible in as little as a week after approval.

Seed Capital reaches companies through approved funds

The Seed Capital Program provides financing through approved Louisiana-based program participants rather than investing directly. Those participants provide private financing through seed-stage investments into start-ups and early-stage small businesses.

Eligible companies must be authorized to conduct business in Louisiana with a Louisiana office and have 500 employees or fewer, with emphasis on very small businesses and socially and economically disadvantaged individuals. A start-up is defined as a business in the early stages of operations, meaning less than three years.

Because the capital sits with the participants, the application process varies by fund, and a company interested in an investment contacts a participating provider rather than the state.

The two programs are at different points in their cycles

As of the research date, the Louisiana Growth Fund page carries a heading stating that it is now accepting applications. That statement belongs to the Growth Fund specifically, and the page shows no date of its own, so treat it as true as of the date in the Sources and currency block rather than as a standing fact.

The Seed Capital Program states that it is not accepting applications for new funds at this time. That is narrower than it first reads: it concerns funds applying to become participants, not companies seeking investment from participants already approved. A company can still approach a participating fund while that is true.

Prepare for whichever route applies

• Whether the request is direct to the Growth Fund or to an approved Seed Capital participant.
• Louisiana incorporation and office, and for the Growth Fund the C corporation structure or a path to it.
• The private capital being matched, and whether it can close inside the 90-day window.
• The instrument, since the Growth Fund takes convertible notes or priced equity and not SAFEs.
• Headcount against the 500-employee ceiling, and any very small business or disadvantaged ownership status.