About this programme
The Louisiana Growth Fund (Venture Capital Program) is one of the SSBCI-backed capital programs run by Louisiana Economic Development (LED) / LEDC. It directly invests capital into high-growth, scalable startups based in Louisiana, and is managed on the state's behalf by the venture firm Yellow Ventures.
It sits within Louisiana's broader $113 million SSBCI allocation, approved on December 6, 2022, of which up to $91.5 million is earmarked for the state's equity programs (venture capital and seed capital combined). Rather than a grant, SSBCI functions as an economic stimulus program that uses federal dollars to encourage private investment in businesses.
How it works
The fund makes equity investments of $250,000 to $1 million in qualifying startups, structured on a 1:1 matching basis with private capital, so a company must bring committed private match funding (from VCs, angels, family offices, and similar sources) alongside the state's investment.
The fund invests through Convertible Notes or Priced Equity; it does not accept SAFEs. Matched private capital must be secured within 90 days of the investment closing.
Once an application is submitted, the fund allows about 3 weeks for an initial response, followed by a 4-to-6-week diligence process; capital can be deployed within about one week of approval.
Who can apply
The company must be a high-growth, scalable startup based in Louisiana, structured as a C-Corporation (or able to convert to one), generating revenue, and at the seed-to-Series-A stage. Non-lifestyle industries are accepted.
The company must be able to secure committed private match funding alongside the state's investment.
Broader SSBCI eligibility (which the Growth Fund draws on) covers for-profit corporations, LLCs, partnerships, joint ventures, and sole proprietorships, for business purposes including start-up costs, working capital, business procurement, franchise fees, equipment or inventory, and property purchase, construction, renovation, or tenant improvements. Very Small Businesses (fewer than 10 employees) and Socially and Economically Disadvantaged Individual (SEDI) owned businesses are a program priority.
How to apply
- Complete the fund's initial application through the application portal on the Louisiana Growth Fund program page; expect about 3 weeks for a response.
- Go through a 4-to-6-week diligence process with the fund manager, Yellow Ventures.
- If approved, and once the required 1:1 private match is secured (within 90 days of closing), capital can be deployed in about one week.
Frequently asked
What does the Louisiana Growth Fund do?
It directly invests capital into high-growth, scalable startups based in Louisiana, matched 1:1 with private capital.
How much can a company receive?
Equity investments range from $250,000 to $1 million per company.
Does the fund invest in SAFEs?
No. The fund invests through Convertible Notes or Priced Equity structures only.
How is it funded?
It draws on Louisiana's SSBCI allocation, which totals $113 million, with up to $91.5 million set aside for the state's equity programs.
How long does the process take?
About 3 weeks for an initial response to the application, then a 4-to-6-week diligence process, with capital deployable within about a week of approval.
Who do I contact about the program?
Yellow Ventures manages the fund (admin@yellowventures.vc); LEDSSBCI2@la.gov handles general inquiries for Louisiana's SSBCI-backed capital programs.
More funding in Louisiana
Collateral Support Program (CSP)
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LED posts up to $250,000 in cash collateral to help Louisiana small businesses with 100 or fewer employees qualify for a bank loan.
FUEL Proof-of-Concept Fund
Future Use of Energy in Louisiana (FUEL), an NSF Regional Innovation Engine led by LSU · Louisiana
FUEL grants Louisiana clean-energy startups and researchers $100,000 to $125,000 to move a proof of concept toward market.
Louisiana Innovation Retention Grant (IRG) Program
Louisiana Economic Development (LED), established by the Louisiana Legislature · Louisiana
Louisiana matches federal SBIR/STTR Phase II awards with up to $100,000 to keep research-based startups and their jobs in the state.
Louisiana Seed Capital Program
Louisiana Economic Development Corporation (LEDC) via Louisiana Economic Development (LED) · Louisiana
State-backed co-investment capital for Louisiana early-stage startups, delivered through eight approved seed and venture funds.
Micro Lending Program
Louisiana Economic Development (LED) / LEDC · Louisiana
A state revolving loan fund offers Louisiana's very small businesses loans between $1,000 and $100,000 through partner lenders.
Research and Development Tax Credit
Louisiana Economic Development (LED) · Louisiana
Louisiana businesses can get a tax credit of up to 30 percent on qualified research spending in the state.
All 10 programmes in Louisiana →
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.