1. A. Prior to a venture capital fund submitting a request to the Louisiana Economic Development Corporation (LEDC) for consideration of an investment, a prospective fund shall first submit an application for the applicant fund to be considered qualified or eligible to participate in this program. The application for the fund’s qualification or eligibility to the LEDC shall consist of detailed information covering three main categories, including:

   1. 1. the experience and qualifications of the fund’s existing or proposed management team; and
   2. 2. the business plan for the venture capital fund. The applicant can use its own format, as long as the basic information is provided. Moreover, the applicant shall provide additional information which is viewed as relevant. The LEDC or its staff may request additional information beyond that which is specified below and what is provided by the applicant.
2. B. After its receipt and review by the LEDC staff, the completed application for qualification will then be submitted to the next scheduled LEDC board meeting for its consideration of final approval.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104, 36:108 and 51:2312

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Economic Development, Office of Business Development and the Louisiana Economic Development Corporation, LR 48:1492 (June 2022).