29 Jan NOLABA News – Venture capital firm to open New Orleans subsidiary

CityBusiness

By Lance Traweek

Valmiki Capital Management LP, a New York based asset management company, announced Friday that Peggy A. Babin will join the firm as president and CEO of a locally formed subsidiary.

Babin will run Valmiki 504 LLC’s venture capital operations in New Orleans.

Babin joins Valmiki after tenure at Tulane University, where she served as associate dean at the AB Freeman School of Business.

She begins in February and will recruit a team to work with local portfolio companies. Valmiki’s strategy is to bring world class investing expertise and connections to the New Orleans startup network.

The board of directors of Valmiki 504 includes James W. McFarland, executive director of the Tulane Energy Institute and the former dean of the Tulane business school.

McFarland said the “availability of professionally managed venture capital is a necessity for the Louisiana startup ecosystem to flourish.”

The firm will launch two venture capital funds to satisfy the needs of Louisiana’s startup companies and investors – Valmiki Bayou Partners I & II LP.

Valmiki partners have primarily funded $5 million as anchor investors and the firm is in the process of raising additional capital from local investors.

The advisory boards of the funds consist of Tulane alumni with global experience in investment research and portfolio management, including Eric Handler and Motez Bishara.

The funds have made investing commitments to six local companies and are likely to announce a number of joint ventures with local academia, incubators and business organizations within the next few months.

Valmiki Capital was founded in 2008 by Ravi Suria, who has had a career in investment research and management.