Tulane University Innovation Institute announces first venture investment
August 12, 2024
Tulane Ventures, an initiative of the Tulane University Innovation Institute to support entrepreneurs and small business owners throughout the region, announced its first funding recipient, healthcare startup Nest Health.
The New Orleans company, founded by former Louisiana Department of Health Secretary Dr. Rebekah Gee in 2021, received $250,000 from the startup fund. The fund provides access to capital, markets, and networks essential to growing their businesses.
Nest Health will use the funding to fuel plans to expand its services to communities across the United States. The company brings healthcare by doctors, family advocates, and mental health specialists into the homes of families who need it the most. Primary care, behavioral and mental health support, vaccinations, nutritional education, and chronic condition management are all provided services.
"We are pleased to announce the official launch of Tulane Ventures with our investment in Nest Health, which is poised to scale across the country,” said Kimberly Gramm, managing director of Tulane Ventures and the David & Marion Mussafer Chief Innovation & Entrepreneurship Officer of the Tulane Innovation Institute. “Nest Health provides a needed shift in family healthcare delivery, and we look forward to supporting Dr. Gee and her team.”
Tulane University’s Innovation Institute received a $5 million grant from the state of Louisiana through the U.S. Small Business Credit Initiative. Tulane University matched the award with another $5 million, enabling the Innovation Institute to launch the $10 million fund to invest in underrepresented, early-stage ventures in Louisiana, focusing on the health/medical, climate/energy, and artificial intelligence/technology sectors.
Tulane Ventures aims to bridge the funding gap, often called the "valley of death," by investing in promising Louisiana-based startups and providing them with the necessary resources to grow. The selected companies will also benefit from consulting, mentoring, guidance, and partnership opportunities through the Tulane Innovation Institute’s extensive network.
“Nest Health is honored to be Tulane Venture Fund’s first investment,” Gee said. “We represent a female-founded company that is transforming health care in New Orleans and beyond by supporting children and their parents. Nest identifies families who are not able to access care and then provides concierge care to them. We could not be prouder of our partnership with Tulane or more excited about the future.”
Gramm made the announcement at a special event on Aug. 7, 2024, at Tulane University’s Freeman Auditorium. The event featured a screening of “Show Her the Money,” an award-winning film that highlighted the challenges female founders face in securing venture capital.
For more information on Tulane Ventures and how to apply for funding, visit tulaneventures.com
* Tulane Venture Seed Fund project is organized and operated according to the requirements of state and federal programs. Specifically, it is part of the State Small Business Credit Initiative (SSBCI), a federal program administered by the U.S. Department of the Treasury under the American Rescue Plan Act of 2021. It provides funding to states to support small business financing and investment. The program offers matching funds to states to help small businesses through measures such as venture capital programs. In Louisiana, the SSBCI programs are administered by the Louisiana Economic Development Corporation (LEDC), which works with organizations such as Tulane’s Innovation Institute. The LEDC is responsible for deploying Louisiana’s share of federal funds to support small businesses and start-ups. Tulane Ventures bases its funding decisions on the merit of the proposed business plans, and not on the demographic identity, race, or sex of the applicants.
