Boot64 Nears Full Investment of $10 Million Fund, Plans $20 Million Successor

1 articles · Updated · NOLA.com · May 18

Boot64 has written 51 checks totaling nearly $7.5 million into 40 startups and expects to deploy almost all of its $10 million fund within about 60 days.
The Metairie-based firm was the first to close under Louisiana's state-run program that uses federal matching dollars for early-stage private investment, and Roberts said the ecosystem has matured with more funds and better-prepared founders.
Roberts said founders seeking capital need a clean, current data room and clear milestones for each raise, because disorganized diligence materials and vague spending plans quickly cool investor interest.
He pointed to traction benchmarks such as $1 million in annual recurring revenue at the early stage and roughly 3 times that for Series A, while warning startups not to overraise or perfect products before winning paying customers.
With four committed deals still to close, Boot64 plans to launch a new $20 million fund with Louisiana Economic Development as an investor again.

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