NEW ORLEANS — The Louisiana Impact Fund has announced its initial closing and launch of a Louisiana-based, lower middle-market private equity fund dedicated to investing in companies located in or meaningfully connected to Louisiana. Led by Co-Founders and Managing Partners Joseph Seremet, Jared Quoyeser and Joshua Cummings, the Louisiana Impact Fund (LIF) is targeting $100 million in total capitalization focused exclusively on acquiring and growing businesses located in the state so that ownership, jobs and wealth remain in Louisiana.
“Our purpose is simple: help founders and owners scale or transition their companies without handing ownership and decision making to out-of-state buyers,” said Jared Quoyeser, Co-Founder and Managing Partner. “We will measure success first by returns, and second by how we grow and keep headquarters, wealth, jobs, and next-generation leaders here at home.”
Strategy & Focus
LIF plans to invest in established Louisiana companies by taking ownership stakes, including both controlling and non-controlling interests. The fund will focus in part on founder transitions, ownership changes and expansions that provide capital for growth, while allowing companies to keep their headquarters in Louisiana. Fund leaders say its investor network may help companies expand existing contracts and make operational improvements.
“Our playbook is pragmatic and Louisiana-first,” said Josh Cummings, Co-Founder and Managing Partner. “We pair disciplined investment and underwriting criterion with hands-on value creation and scaling strategies that include customer introductions, talent support, operating efficiencies, incentive assessment, so companies can grow in place. The goal is simple: build stronger and bigger businesses to keep ownership, jobs, and wealth in Louisiana.”
The fund’s target industries include industrial services; engineering and construction; distributed power; infrastructure projects delivered through engineering, procurement and construction firms; energy technology and innovation; advanced manufacturing; healthcare; logistics; and software.
Why Louisiana, Why Now
Louisiana has a large number of closely held businesses, many of which are approaching ownership transitions, seeking capital to expand, or evaluating partial or full sales.
“Too many great Louisiana companies get sold to out-of-state buyers—and with them go decision-making and, eventually, jobs,” said Joseph Seremet, Co-Founder and Managing Partner. “We’re here to change that trajectory by giving founders a competitive, values-aligned option to stay rooted in Louisiana while accessing the capital and capabilities they need to scale.”
State, Employer & Banking Perspectives
Some of the most recognizable names, companies and employers in the state are supporting the vision and goals of this new fund including Ochsner Health, b1BANK, Gray Stream and the Reilly Family. Though not an investor, Louisiana Economic Development (LED) is also a key partner that will also help the fund support and identify promising companies and deal opportunities.
“The Louisiana Impact Fund reflects our commitment to helping businesses grow, expand and remain a part of our state’s economy,” LED Secretary Susan B. Bourgeois said. “When ownership and decision-making stay here at home, we create quality jobs, attract new investment and strengthen community leadership across the state. This partnership shows the power of Louisiana-led growth and our shared focus on creating lasting opportunity for our people.”
“Stronger local companies mean stronger, healthier communities,” said Pete November, President & CEO of Ochsner Health. “We see the impact when businesses expand within our state: stable jobs, talent retention and attraction and reinvestment that lifts entire regions. LIF’s commitment to keeping companies and talent in Louisiana is an important step forward in empowering local businesses to innovate, grow and drive meaningful, long-lasting progress in our communities.”
“Local ownership is a competitive advantage,” said Jude Melville, Chairman & CEO, b1BANK. “When founders choose in-state capital partners, key decisions stay close to the communities they affect, payroll dollars circulate locally and supplier ecosystems deepen. LIF’s mission to keep companies and jobs in Louisiana is the kind of long-term alignment that strengthens our economy, leveraging scarce capital many times over.”
“We are a multi-generation Louisiana family business,” said Sean Reilly, CEO, Lamar Advertising Company, speaking on behalf of the Lamar Group and the Reilly Family. “We’ve seen what happens when companies keep their headquarters here—good jobs, stronger suppliers and civic leadership that endures. LIF gives founders a Louisiana choice to grow and transition without exporting ownership. That’s how you build generational prosperity in this state.”
“The Stream family is proud to support Louisiana Impact Fund in its initial close. We believe that the fund’s objectives and its unique LP Network will produce powerful results,” said Gray Stream, speaking on behalf of the Stream Family. “This Fund’s focus on keeping jobs, wealth and businesses in-state aligns deeply with our family’s multi-generational commitment to supporting Louisiana’s success. The Fund’s strategy of deploying disciplined capital in the middle-market to grow Louisiana’s entrepreneurial base is exactly the kind of impact-oriented investing that our portfolio has always sought. We look forward to working with the team and supporting the Louisiana business leaders that will drive financial returns and prosperity in our state.”
“This fund is exactly the kind of homegrown investment initiative Louisiana needs,” said Justyn Dixon, President and CEO of North Louisiana Economic Partnership. “When we can match Louisiana capital with Louisiana companies, it keeps ownership, innovation and opportunity here. LIF represents a shared commitment to helping Louisiana businesses grow in Louisiana – and that’s how we build long-term prosperity for our people and our communities.”
Louisiana Impact Fund – Investors and Business Network
The LIF brings together a group of investors that includes employers, entrepreneurs and institutions from across the state. Beyond providing capital, these investors may connect portfolio companies with potential customers, suppliers and workforce opportunities within Louisiana.
The fund’s founding limited partners include Acadian Ambulance Service; John E. Atkins; Business First Bancshares; Scott Ballard; Blue Cross and Blue Shield of Louisiana; Rock Bordelon; Bradley and Henry Busch; Daryl Deshotel; JJPF Investments; North Louisiana Economic Partnership; Ochsner Health; Reilly Family; Stream Family; Bryan Schroder; and Heidi Raines (Redmond).
Jones Walker LLP serves as fund formation counsel to LIF and Bennett Thrasher serves LIF’s third-party fund administration advisor.
