Propeller

This EDA investment will scale up a successful pilot between Propeller and New Orleans Startup Fund (NOSF) seeded through several collaborations aimed at connecting private capital to businesses with high-growth potential in socially and environmentally beneficial sectors. Participants in the Propeller Impact Accelerator received equity investments from Propeller, with NOSF serving as fund manager. Many of these technology-enabled startups have recognized significant scale, attracted follow-on funding, or have been acquired.

That established partnership is the foundation of Creating an Equitable Economy through Equity Investments in New Orleans—an initiative aiming to generate a multimillion-dollar evergreen venture capital fund to facilitate capital access and post-investment support for entrepreneurs from underserved communities. There is a clear need and opportunity for seed capital in the New Orleans region. To rapidly scale and grow, companies need not only additional capital but also additional guidance and expertise. Propeller’s demonstrated expertise in program design and delivery will benefit companies receiving equity investment through the Propeller and NOSF partnership. Through this shared mission of creating prosperity in the region with seed capital and business assistance, companies funded through this project are expected to raise at least $5 for every $1 investment by the fund, thus attracting much-needed outside investment into the Greater New Orleans region.