Ochsner Ventures announced the creation of the Ochsner Louisiana Innovation Fund, a $10 million fund for investments in early-stage, innovative health and health-adjacent companies in Louisiana. The fund is a partnership between Ochsner Health and Louisiana Economic Development (LED) through the State Small Business Credit Initiative (SSBCI), a program of the U.S. Treasury Department.
The Ochsner Louisiana Innovation Fund will identify and invest in venture and seed-stage health companies that are headquartered or have a meaningful nexus in Louisiana. The fund will make equity investments in companies whose innovations will improve the health of Louisianans and the experience of healthcare professionals across the industry. Priority will be given to companies whose solutions advance Ochsner’s strategic priorities of accelerating value-based care, digital transformation of care delivery, and improving access and community health across the State, with a focus on supporting founders from socially and economically disadvantaged backgrounds (SEDI).
“The Ochsner Louisiana Innovation Fund is one of the many ways we’re inspiring healthier lives and building stronger communities,” said Pete November, CEO of Ochsner Health. "Supporting Louisiana entrepreneurs who are developing innovative programs, services and technologies, furthers our commitment to improve the health of the state and drives economic development and opportunity. We're grateful to Governor Jeff Landry and LED Secretary Susan Bourgeois for their leadership and are excited to work alongside them to grow jobs in the state.”
In the past six years, Ochsner Health has committed $12M to funds and companies in Louisiana. This includes nine investments in early-stage companies whose products and services range from healthcare delivery and health tech to life sciences and value-based care. These companies are located throughout the state and support over 235 jobs. Because of Ochsner’s size and focus on healthcare, its portfolio companies benefit from expertise and mentorship from top tier clinicians and healthcare management professionals, along with access to national networks of venture capital and healthcare experts.
Visit the program website to learn more at https://www.ochsner.org/ventures/funds.