NEW ORLEANS — NO/LA Angel Network has announced that it is rebranding as the Gulf South Angels. The angel investment network plans to keep its headquarters in New Orleans while extending its footprint throughout the region.
Over the past decade, NO/LAAN’s 120 members have invested nearly $20 million in 102 investing rounds in 51 early-stage companies located in 18 States, with an average investment size of $400,000 per company. NO/LAAN recently was recognized as being in the top 10% of active angel groups in North America by the Angel Capital Association.
“The new brand name more accurately reflects what the NO/LA Angel Network has grown to become: an investing organization with a regional member-base that invests locally, regionally and nationally, supported by a sophisticated investment vetting process, a strong back office, member education, and post-investment stewardship and tracking,” said Mike Eckert, board chairman of GSA.
The Gulf South Angels will specialize in evaluating, funding and nurturing early-stage companies. GSA members primarily focus on Seed or Series A financing rounds, but also on Series B and C rounds in dynamic growth markets. They seek ventures with regional, national, or international scaling potential and a viable exit strategy.
GSA has syndication partnerships with angel groups around the country. It also manages two sidecar funds.
“The camaraderie and wealth of knowledge among our accomplished members instill confidence in investment decisions,” said Dan Schwartz, a Florida-based GSA member. “In addition, GSA’s syndication partners from numerous states give members access to better deals, and provide more capital for the companies we invest in.”
GSA prioritizes emerging industries and innovations but its investment portfolio is industry-agnostic. Past investments have spanned diverse sectors, from software to biotech to fashion to consumer packaged goods.
“NO/LAAN has supported us since day one, not only in our capital raise but also through the inevitable challenges that come with starting a business,” said Josh Johnston, CEO and co-founder of TrayAway, a NO/LAAN portfolio company. “They have been pivotal in our success and ability to grow from a local company to a global player supporting luxury hotels in 30+ countries.”
