NEW ORLEANS – 1834 Ventures, a New Orleans-based early-stage venture capital firm investing in companies from the Tulane University ecosystem, announced that David Mussafer, namesake of Tulane’s Mussafer Hall, chair of the Board of Tulane and benefactor of the Tulane Innovation Institute, has committed an anchor investment in the fund.
The Mussafers’ commitment brings 1834 Ventures to the doorstep of its $20 million fundraising target as the fund approaches its final close, with more than 95% committed to date.
Mussafer is chairman emeritus and managing partner of Advent International, one of the world’s leading private equity firms, and has been a long-standing supporter of Tulane University. His support of the Tulane Innovation Institute includes endowing the David & Marion Mussafer Chief Innovation & Entrepreneurship Officer position.
“1834 Ventures is doing something that genuinely matters — not just for Tulane, but for New Orleans and for Louisiana. Evan and Patrick have built something real in a remarkably short period of time, and I am proud to support their work and the founders they are backing,” Mussafer said. “The Tulane network has always punched above its weight. 1834 Ventures is making sure that talent and ambition stay in Louisiana and get the capital they deserve.”
Since its public launch in August 2025, 1834 Ventures has grown its portfolio to 15 startup companies led by founders from the Tulane alumni network or spinout companies born from the university’s research. Eleven of those companies are either headquartered in New Orleans or have expanded operations into Louisiana.
The fund has built an investor community of 66 investors across 17 states, anchored by a significant commitment from Louisiana Economic Development Corporation through the Louisiana Opportunity Fund.
Tulane and Louisiana Partnerships
Although independent of Tulane University, 1834 Ventures works closely with the Tulane Innovation Institute and the Tulane Venture Fund on co-investment, deal syndication, programming and ecosystem initiatives, serving as a bridge between the university’s commercialization efforts and the broader venture capital community.
“1834 Ventures has quickly become a cornerstone of Tulane’s innovation ecosystem,” said Kimberly Gramm, David & Marion Mussafer Chief Innovation & Entrepreneurship Officer at Tulane University and a member of the Advisory Board of 1834 Ventures. “The collaboration among 1834 Ventures, the Innovation Institute, and the Tulane Venture Fund reflects the strength of a community committed to supporting entrepreneurship. The Mussafers’ investment sends a strong message about the opportunities that emerge when alumni, investors, and university leaders rally behind founders.”
“From the beginning, our goal with the Louisiana Opportunity Fund has been to catalyze exactly this kind of investment in Louisiana’s innovation economy,” said Josh Fleig, chief innovation officer at Louisiana Economic Development. “1834 Ventures has demonstrated that venture capital and Louisiana are not mutually exclusive. The caliber of investors and companies they have attracted in their first year, and the Mussafers’ investment, validates everything we believed when we made this commitment to the fund and to the Tulane ecosystem.”
“When we set out to build 1834 Ventures, we made a simple bet: that the Tulane network was one of the most underleveraged assets in Louisiana,” said Evan Nicoll, co-founder and managing partner of 1834 Ventures. “One year in, we are seeing the results of what happens when that network chooses to reinvest in the region that helped shape them. The seeds have been planted to generate real impact for Louisiana’s economy.”
“None of this would have been possible without our partners, including the Tulane Innovation Institute, the Albert Lepage Center for Entrepreneurship, the broader Tulane community that has rallied behind this vision, and Louisiana Economic Development, who has been the engine behind it all,” said Patrick Hernandez, co-founder and managing partner of 1834 Ventures. “We look forward to completing the fund and turning our full focus to supporting the next wave of Tulane founders.”
1834 Ventures Launches Friends of the Fund Program
1834 Ventures also announced the formal launch of its Friends of the Fund program, a curated network of subject matter experts, advisors, mentors, venture capitalists and co-investors committed to supporting the growth of the firm’s portfolio companies and the broader Tulane entrepreneurial community.
In addition to his investment, Mussafer has joined as the inaugural member of the Friends of the Fund program.
“The Friends of the Fund program is designed to put the full weight of the Tulane network behind our founders, connecting them with experienced operators and investors who can help them grow faster and smarter,” Nicoll said. “We are grateful to David for being among the first to embrace this vision.”
1834 Ventures plans to expand the program in the coming months, with additional members to be announced.
The firm’s portfolio includes Orion Sleep, Cabana, Informuta, Beken Bio, Hello Gravel, RentCheck, Trak.AI, Thrivvy, NanoTrace, Exactics, Tympanogen, Storyboard, Griddy and OS BENEFiTS, along with a stealth company developing an agentic freight execution engine. Investments in Tympanogen, Storyboard, Griddy and OS BENEFiTS have been committed but are pending closing.
